Inventory value without cost price
What to do if your inventory value is not correct because you missed the cost price when registering stock.
Inventory value is typically calculated based on the cost of your products. If a product is missing a cost price, this affects the inventory value calculation.
What happens if there is no cost price?
If a product lacks a cost price and there is also no price listed on the goods receipts, the items are counted as 0 DKK in the inventory value . This means that the displayed inventory value may be lower than the actual value. If a goods receipt has a price, that price is used.
Under Statistics → Inventory Statistics, on the Inventory Value Over Time tab, you can see how many items in stock were valued at 0 DKK on a specific date because they lacked a cost price. Below the key figures, for example, it says “3 items in stock without a cost price are listed as 0 DKK,” and the link leads to the “Missing Cost Price” tab under Inventory → Cost Prices.
Note that a cost price you add now will not correct the days that have already been saved. Those days will remain with the incorrect value, and the correction will appear in the next night’s report at the earliest.
How to Add a Cost Price
- Go to Products and click Edit on the product
- Under General, you’ll find the Cost Price (excl. tax) field
- Enter the purchase price excluding VAT
- Click Save
The inventory value will be updated during the next nightly calculation. If you want it updated immediately, you can instead use Update Inventory Value under Inventory → Cost Prices. Read more in Cost Prices and Inventory Value.
Update the cost price for multiple products
If you have many products without a cost price, you can:
- Update the cost price for multiple products via bulk editing
- Import cost prices via CSV import
See also “Calculating Inventory Value” for a full explanation of the calculation.
Tip
An accurate cost price is important for getting a true picture of your profit margin and inventory value. Make it a priority to enter the cost price for your best-selling products first.
Need help? Contact us at support@shoporama.dk.
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