Kindly see below picture. When I enter bill and save bill. Cost is not updating automatically. Cost is showing zero.
I want when I enter bill this cost automatically update when I enter bill.
Thanks and regards,
When you enter a bill with a new cost, there should be a pop-up to let you choose if you want to update the cost or not. Refer to the screenshot below:
It's possible that the Never update the cost for this item was selected. You can go to the Edit > Preferences > General > My Preferences and tick the Bring back all one time messages box, then OK. Once done, you should see it once you enter a new bill.
Also, you can run the verify and rebuild data in QuickBooks Desktop. This is to check if the reason for this behavior is due to a damaged file.
Keep your posts coming if you need anything else. Have a great day!
Thanks for your reply. I try both solution but not working.
I also create new inventory item, but Item cost not updating and item cost popup changed pop up is also not showing.
I appreciate you following the steps provided above, @talk2khurram.
Let me provide additional troubleshooting steps to fix this. We can use File Doctor to fix company file issues in QuickBooks Desktop. But before we proceed, make sure to create a backup copy.
To start, download and install QuickBooks Tool Hub. This helps fix common errors in your company file. Follow the on-screen steps to install this, then double-click the icon to open the tool hub.
The next step is to run Quick Fix my File.
If the same thing happens, let's run QuickBooks File Doctor. This is used to scan and fix data issues in your file.
The scan time depends on your file size. Once the scan finishes, open QuickBooks and your company file to check if you still get the same result.
I've also added this article to help you manage items in QuickBooks Desktop: Add, edit, and delete items.
Let me know how it goes. I'll look forward to your reply if you have other QuickBooks concerns. Have a great day.
Thanks for letting us know the result, @talk2khurram,
If you're still unable to update the inventory costs after trying out the solutions listed on the thread, I highly recommend getting in touch with our Support Team.
Our representatives can help diagnose the company file and check what's causing this odd behavior. To get our support, follow the steps below:
I'm also adding this article about our contact options and support availability for your reference: Contact QuickBooks Desktop support
Kindly update me with the outcome after contacting support. I want to make sure this is resolved so you're able to work with the program without any issues.
I don't think there is anything wrong.
The cost on the item is just a memo, a default. It works just like non-inventory and other "two sided" items that have both a purchase and sales price.
Even if you updated the cost based on your most recent purchase per the prompt mentioned here, it would still not be the average cost, but just the last rate you paid for the item.
The "Cost" field does not represent the actual average cost for the item that will be used to calculate COGS when you sell the item. To see the average cost, see the bottom of the item window as you edit it or run a report, like the Inventory Valuation Summary, which shows actual cost for all of your items in a column.