Dynamic sales price

dmerkenhof · ‎October 16, 2020

Hi all,

I'm currently trialing QBO and I am wondering about a thing.

Is it possible to calculate a sales price based on the average purchase price of a product?

Some purchase prices of products change very often. For example this time a product could be €5 per piece and we buy 100 of them. We sell 50 of them with a fixed margin of 10%. So there are 50 left with a purchase price of €5 per piece. The next time we buy 100 piece for €6 per piece. Now the average purchase price is €5,66 for the 150 pieces in stock, so I would like the sales price to be automatically calculated to €6,23 per piece.

Is this achievable?

Thanks in advance for your replies!

Fiat Lux - ASIA · ‎October 16, 2020

QB Online only offers FIFO. You need to have an inventory management app to calculate average cost.

dmerkenhof · ‎October 16, 2020

So it doesn't actually offer inventory management? That's a bummer.

MaryLurleenM · ‎October 16, 2020

Hello there, dmerkenhof.

You can search online for a third-party app that can integrate with QuickBooks which offers inventory management. Once you add an app, it'll show on your Apps tab.

Here's an article for reference on inventory tracking in QuickBooks Online:

Let me know if you have other questions.

dmerkenhof · ‎October 16, 2020

Thanks! I will sure have a look at that!

Fiat Lux - ASIA · ‎October 17, 2020

@dmerkenhof

Intuit has acquired an inventory management app

https://go.tradegecko.com/register?code=fiat-lux

You may compare it with another app.

https://www.zaperp.com/ref/25/