In Brightpearl, a "cost price" can refer to one of two things:
- The price of a product on a cost price list
- The actual cost price of a unit of inventory after it's been received into the system
This article will discuss each kind, their differences and their applications.
Cost price lists
A price list is a list containing every product and their expected price. You will have price lists describing the price you sell your products at, but you will also have price lists describing the price you expect to buy your products for.
If a product is purchased from several vendors, it may have a cost on several different price lists.
Characteristics of a cost on a cost price list include:
- Assigned to a product
- Can be viewed on the product list (Products > List products/services) and on individual product records
- Used to automatically populate the "Price" and "List price" columns when creating purchase orders or credits
- Used to suggest a price when writing stock on manually
- Used as an estimated cost on sales order before they've been shipped
- Updated through a product record, a product import or a price list import
- Does not have any impact on accounting
Actual cost price
When inventory is received into the system, that unit of inventory is assigned a cost price representing its value. This is the price used to calculate the final cost of sales and the one that is used for accounting purposes.
Characteristics of the actual cost price include:
- Assigned to a unit of inventory
- Can be viewed on the inventory detail report (Products > Inventory detail) and on the inventory audit trail (Products > Inventory audit trail)
- Used to work out the total cost on the inventory summary report (Products > Inventory summary)
- Used in sales reporting once sales have been marked as shipped
- Used when posting cost of sales accounting