Hi there,
I'm trying to get an accurate amount of Total Inventory Value in my Inventory By Category report. I know these numbers aren't correct because I've recently added a lot of stock and Unit Costs.
On the Inventory by Category page, I get the red banner at the top telling me to update my unit costs.
When I click that, I get moved to the Inventory History page.
I'm wondering 3 things -
1. Most of these items have unit costs in the Item, yet when I see it on the Inventory History page, it shows a blank unit cost with a Default Unit Cost to the right greyed out. (see screenshot below). Why would unit costs I've already entered not be applied? Within individual items, there is no option to select a "Default Unit Cost", there is just a "Unit Cost" field. Also, many items have variations, but all variations have their own Unit cost entered.
2. If I select the bulk Action of Reviewing and then Applying all Default Unit Costs, will that mess everything up? Does it apply that Default Cost to my inventory reports GOING FORWARD or to all previous historical reports?
3. I read on another screen (I can't find it now, but it was in the Square Dashboard) that setting a new Unit Cost will only affect the Inventory being added GOING FOWARD and not historical inventory reports. If I want to get an accurate Inventory Value currently with the Unit Cost applied to all Inventory in Stock, can I work around that by REMOVING all the stock for Items (zeroing it out), then RECEIVING STOCK for those same items, and the Unit Cost will apply to that "new" inventory count and my Total Inventory Value will be accurate? (meaning the previous inventory that I wrote down, removed from Square, then added back as a separate Receiving Stock action?)
For example:
Slab Bacon, 28 in stock, Default Unit Cost $7 greyed out, Unit cost not entered
If I select "Fill in Default Unit Cost" to Slab Bacon will it show my Inventory Value as $0 because the 28 in stock was entered BEFORE the Default Unit Cost? Or will it show $196 (28x7) because the $7 unit cost will apply to all 28 units in stock?
Thanks.
