Cost prices in EposNow

Cost prices in EposNow

The product cost price in EposNow is used to track your profit margins on your sales. This is how it works:
  1. Stock is added to EposNow
    1. let's say quantity 10 is added for product X
  2. EposNow creates a stock batch for quantity 10 with whatever cost price is set for the product currently
  3. Each time stock is added, a new stock batch is added
  4. When a sale is made, stock is deducted from the oldest stock batch and the profit margin is recorded as the difference between the cost price of that batch and the sold price
The cost prices of product can be updated, but the cost price recorded in a stock batch cannot be changed.

If you have products on EposNow that did not have a cost price set, then you may have stock batches where the cost price is zero, and even if you now go and set a cost price for the product, the cost price in the existing stock batches will not be updated as that what the cost price was at the point in time when that stock batch was added. The only way to correct this is as follows:
  1. Set the stock of the product to zero
    1. This will remove any existing stock batches
    2. Please check with EposNow if there are any side-effects to doing this on reporting
  2. Set the stock of the product back to the correct level
    1. This will create a new stock batch with the correct cost price so that future sales will have the correct profit margin
You may choose to do the above in bulk using the EposNow bulk import app.

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