One of InventoryLab's most useful features is its ability to track key accounting information easily during the List process! All of the information entered is transferred to your Inventory replenishment lines.
When adding an item to your batch, you have the ability to enter the following information:
Total Cost per Unit: Enter your buy cost for the product, per unit.
Supplier: Enter the supplier from which you purchased your product.
Purchased: Enter the date you purchased your item(s).
If you enter a purchased date while you list, any sales for the inventory will debit the appropriate buy cost based on the FIFO (first in, first out) order.
What's next?
Do you have discounts or other costs that must be included in your purchase costs? No problem! Check out our Total Cost Calculator article to learn how to enter and account for this information!
Total Cost Calculator
Do you need to add multiple purchases in List 2.0? Check out how to do so via Bulk Edit in Inventory.
Bulk Edit Replenishment Accounting Information