Our company does not specify the item cost because the cost for one item change a lot.
However, when we create a PO, the Item Cost is automatically updated to the last price of the item in PO.
I wanted to delete this automatic update, so I went to Edit - Preference - Item & Inventory - Company Preference, but there was no Automatic Cost & Price Updates button in our QB.
For reference, our QB is Premier 2019 Desktop Version.
Where can I find the Automatic Cost & Price button?
I appreciate you taking the effort to figure out how to use QuickBooks' shortcuts and capabilities, @AleumusaShinark. I'll share some insight about cost and prices updates in QuickBooks Desktop.
The option for the Automatic Cost & Price Updates button is unavailable. It's exclusive to QuickBooks Desktop Enterprise.
You can download a free 30-day trial of QuickBooks Desktop Enterprise if you want to try it. Check out this article for more details.
In addition, I added this article on how to set up advanced Inventory in QuickBooks Desktop Enterprise.
Let me know if you still have any queries about inventory items. I'm always willing to lend help.
Thank you for returning to the thread, @AleumusaShinark. I can walk you through the steps of adding inventory costs to QuickBooks Online.
The result you want for the item will decide the choice you make. Select "Yes" if you need to alter the selling and markup prices to the new amount.
If you want to keep the existing values, select No. You can always modify the products and services in this field later in QuickBooks.
In addition, I recommend reading the following post for answers to frequently asked questions concerning QuickBooks items: Add, edit, and delete items.
Alternatively, I added this article that you can use if you need to adjust inventory quantity for your future reference.
If you have any further queries about your sales items in QuickBooks Desktop, I'm here to guide you. Be safe.
I'm not using online version. I'm using desktop version.
And I will upgrade to 2022 desktop version soon
If I upgrade to a new version, will the cost problem be solved?
I’ve got you covered, @AleumusaShinark.
Before anything else, the instructions provided above are intended for QuickBooks Desktop users.
If you're going to upgrade to QuickBooks Desktop Enterprise in the future, yes, you have options on how your costs and prices will be handled by QuickBooks.
I’ve attached a screenshot that show the preference for Automatic Cost & Price Updates:
Also, here's an illuminating guide that provides information on how to create price rules and set conditions in the program: Use Advanced Pricing.
If you have any other questions or concerns besides your cost situation, just let us know. We’ll be here anytime. Take care always!
Thank you for your reply. However I think you don't understand what I'm saying. I don't want to upgrade to the Enterprise version... just upgrade to the 2022 Quickbook desktop version.
I already know about the automatic cost & price updates you mentioned. However, the problem is that that function is not in my QB.
I'll ask you again.
1. Is there a way to turn off automatic cost & price updates in 2019 desktop version?
2. Can I adjust the automatic cost & price updates for the 2022 desktop version? Is the enterprise version the only answer?
Let me clarify things for you about turning off the Automatic Cost & Price Updates, AleumusaShinark.
You can turn off the Automatic Cost & Price Updates through the Company Preferences. However, you won't be able to see this option on the Premier 2019.
But I can still provide the steps for you.
Also, even if you upgrade to the 2022 version of your Premier, you won't be able to use the Automatic Cost & Price Updates. This feature is only available in Enterprise. Check out again this link for more details: Use Advanced Pricing.
If you want to use the Advanced Pricing on the Premier version, you can send feedback. Let me show you how:
Your valuable feedback goes to our Product Development team to help improve your experience in QuickBooks.
Since you were originally managing a purchase order (PO), these entries are a part of the Accounts Payable (A/P) workflow. I'm adding this article to learn how to record POs in QuickBooks: Learn about the Accounts Payable workflows you can use.
Let me know if there's anything else you need by commenting below. I'm always right here to guide if you have follow-up questions.