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
Navigate to Inventory.
Select Packages.
Select a package and click the Kabab Menu (the 3 dots) icon in the top-right corner of the screen.
Select Edit from the drop-down menu.
Enter the new package cost in the Cost field.
When the package cost is changed and items have been sold from that package, you have the option to adjust the cost of the items that were already sold.
This option ONLY appears if items have already been sold from that package.
By adjusting the cost of items sold from that package, cost and profit amounts in GrowFlow Retail will be more accurate.
We recommend you consult your accounting/finance department if you have any questions.
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.
Activity Log
When the Package Cost is changed, that information is recorded in the Activity Log (Reports > Activity). See the example below.
