Product Costs

Overview

Sellercloud allows you to control the cost determination of your product in order to avoid selling any product at too low a price. Costs can either be adjusted manually, or you can enable the relevant configuration options to set a trigger that will update costs dynamically.


Manage Product Costs

To review or update the product costs:

  1. Go to Catalog > Manage Catalog > Open the product whose cost you want to update.
  2. From the Toolbox, select Purchasing.Products Costs - Purchasing
  3. The Cost panel displays the currently determined Last Cost, Average Cost, and Salesman Cost of the selected product.                                                                                                                                                  Note: the Site Cost is not shown here.The image shows the Cost panel.
  4. You can update the different costs from the Cost panel:
    1. Last Cost: The Last Cost is the amount paid to buy a product by the last Purchase Order which has been received. You are not allowed to change it manually, except when making edits to PO details.
    2. Average Cost:
      1. Click on the icon (Average Cost Icon) in the Average Cost field.
      2. On the newly opened page, click on the Plus icon of the Average Cost Details panel.average Cost Details
      3. In the pop-up window, set the new amount and the reason for the update and click Add.
      4. For further details, refer to Managing Average Cost.
    3. Salesman Cost: To make the Salesman Cost automatically update each time the product’s Site Cost changes, check the Enable Salesman Cost from Settings > Client Settings > General Client Settings. Once configured, the Salesman Cost will be calculated as a specified percentage from the product’s Site Cost. For details, refer to Sales Rep Commission and Managing Salesman Cost.
  5. You can also update a product’s Site Cost from Catalog > Manage Catalog > Open the product > Press Edit > Go to the Purchasing panel and enter the actual value in the Site Cost field > Press Save.Site Cost

With Sellercloud, you can configure your Client Settings to avoid selling a product at too low a price. To access these cost-related configuration options, go to Settings > Client Settings > General Client Settings. Once there, you will be able to access the following tools:

CLIENT SETTING DEFINITION
Update Product SiteCost Based On PO LastCost Automatically updates the Site Cost based on the cost of the item as it was received in the last Purchase Order.
Enable Update Cost when adjusting Inventory Automatically updates the product’s Average Cost once the inventory is adjusted.
Update SiteCost when updating AverageCost Automatically updates Site Cost based on the item’s Average Cost.
Protect Site Cost Prevents any user without a Client Admin role from editing the Site Cost.
Add Flag to Inventory Arrivals Page Sets a flag on the Inventory Arrivals page, once the product Average Cost is changed. Hovering over the flag will show the original and new values. This reminds you to adjust the Site Cost accordingly.

 

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