Sometimes, you may enter the package cost incorrectly when the transfer is received. If this is identified, there is an easy way to change the cost and make sure the cost on all associated sales is correct. When you edit the cost of a package, if items from that package have already been sold, you can update the associated orders with the new package cost.
For example, if the cost of a package was incorrectly entered as $1.10 per item, and the cost was actually $1.00, and two items were sold and recorded with a cost of $1.10, when the package cost is updated, those two items will have their cost per item changed to $1.00. As a result, reporting will be updated with the new cost data.
With this tool, you can determine whether or not you want the cost for sold items to be updated retroactively if a package's cost is changed. When such a change is made, it is recorded in the Activity Log for reference.
How do you use it?
Changing the Package Cost
1. Navigate to Inventory.
2. Select Packages.
3. Select or search for a package, then click the Kebab Menu, the three‑dot icon.
4. Select Edit from the drop-down menu.
5. Enter the new package cost in the Cost field.
6. When the cost of a package is changed after items have already been sold from it, you’ll have the option to adjust the cost of those previously sold items. This option only appears if sales have already occurred from that package. By adjusting the cost of items sold, GrowFlow Retail will update cost and profit calculations to ensure your reporting is more accurate.
NOTE: We recommend you consult your accounting/finance department if you have any questions.
Tip: If you accidentally enter an incorrect cost per item or total package cost during transfer intake, you can edit the package cost afterward to correct it.
Impact on Reporting
When the cost of an item is changed for a completed order item, it changes the cost of goods and profit on the day it was sold.
Below is an example of a Sales Report where the package cost was originally $10.00 per item.
5 items have been sold, so the Cost of Goods is $50.00, and the Gross Profit is $40.00.
The cost of the package was then changed to $11.00.
When the Sales Report for the same day is run again, the figures have changed. For the 5 items that have been sold, the Cost of Goods is now $55.00, and Gross Profit is $35.00.
To learn more about what can be edited in the package details, see How to Edit Package Details.