I need clarification on matters regarding sambapos capturing the cost of goods. I have read through various tutorials and know how to set the cost of a product.
I know that the Cost of goods has to be obtained through purchasing, setting inventory items, and recipes.
My question is why am I not able to pull the cost of a particular product after selling. That means that the cost column is not showing any figure.
Does it mean that I have to purchase daily so that the cost of good can reflect on my report
My bar warehouse is running on negative stock, this is because some items are not issued by the systems when they are received. They issue the items manually hence most of the bar stock is running at a negative figure. Could this be the reason why the system is not giving me my cost reports?
Kindly advise
I believe that average cost is moved into the report after every work period.
If you plan to keep your stock in order you will have to put in daily what you bought no?
This is probably because you have more than one warehouse and only one purchase transaction directed at one warehouse not both. Create another transaction type for your bar warehouse.
Thank you for your kind reply, I have realized that in sambapos there are 2 ways that you can capture the Cost of Goods sold. You can either have fixed cost or inventory based costing.
This is how you set up the fixed cost as illustrated in 2016
In my case though am talking about capturing the cost when setting up inventory.
I am browsing through various post and this have captured my attention.
Cost is only going to be accurate if you recorded purchases with prices for what you sold. It averages based on the various prices you pay when you make purchases. If you know for a fact that the price will never change then put a fixed cost. But most cases people would never do that because in real world prices fluctuate.
It does not matter how many warehouses you have. Cost is based on your purchase transactions. Cost doesnt care if your using 15 warehouses to issue anything. All it cares about is your price you paid and when you sold it.
so on this occasion you suggest we can do away with the cost that we normally set on inventory items.That is can we enter set up inventory items with zero cost and then set fixed cost as indicated above
Thank you for this clarification, I will have to test both before making any more comment.I need to fully understand samba costing mechanism first because am getting erratic cost reports
Fixed cost just puts a fixed amount when you purchase. If you change that amount it will alter cost. So basically the only factor for cost is purchases and what you paid for it and when you sold it.
Yes I just wanted to clarify since he is using multi warehouse. Cost is really simple in Sambapos. People get confused because of the Fixed cost option in inventory items setup.
All that option does is set a fixed price that auto populates when you do a purchase transaction. It has nothing to do with cost calculations.
There is stock transfer between main store and the bar store,what i meant is that beyond purchasing the items are not being transferred to bar store.The inventory at the bar is running to negative and Zero.I will address that by limiting the zero sales though.
I thought this could be the reason why my cost report has always been erratic
Cost is only based on purchases. If you didn’t make a purchase and you sold the item it will mess up cost. You also have to enter prices paid. They need to be accurate.
If you set it up to take inventory from a warehouse on sales but you never move inventory there. It will not record that as an item sold that you purchased. So yes it will mess it up.
ohh now i understand what @Jesse you are saying.You mean when we input the inventory item we leave the cost as 0 right.
When we are doing a purchase we can input the cost as per the cost we got the product from supplier and the cost report will be the average
Btw you can make seperate purchase transaction types for bar, food etc. It will put it in the correct warehouse at purchase. And cost will be correct so will inventory when it’s sold.
