About costs and prices

An important part of any business is the numbers, especially the difference between what a product costs you and the price you sell it for. Accurate costing and pricing information is essential, as are the tools to set them quickly.

Term Definition
Cost Amount you pay when you order a product from your supplier
Default cost Amount you pay when you order a product from your default supplier
Raw cost Cost of a product in the currency of the supplier you buy it from
Cost average Average cost of the entire quantity of a product you have in stock
Pricing level cost Unique cost you set that is associated with a pricing level

Costs shown in reports

Costing is an essential factor in sales, commission, and inventory valuation reports. This table shows the types of cost shown on reports.

Category Report Cost shown
Sales Gross Profit Cost average at time of sale
Inventory All reports except Inventory History Report Current cost average
Inventory history All reports Cost and cost average at time of entry
Product General by default supplier Default cost
Commission by profit All reports Cost average at time of sale

Costs shown in Intelligence reports

Category Cost shown
Products Cost average at time of sale
Quotes Cost
Invoices Cost average at time of sale
Sales Cost average at time of sale
Inventory Current cost average

Costs shown in documents

Document Cost used
Quote Default cost (pricing level cost will override)
Order Default cost (pricing level cost will override)
SRO Default cost (pricing level cost will override)
Invoice Default cost appears when a product is added, but is replaced by cost average when the invoice is saved. Pricing level cost is overridden if a pricing level is chosen.
Purchase order Cost of the supplier attached to the PO
Supplier invoice Cost from the original purchase order

Costs in accounting exports

The costs that are included with the files that are exported in OnSite’s accounting exports files are at Tools > Export to MYOB or Tools > Export to QuickBooks.

File Cost used
Invoices Cost saved in the invoice
Purchases Cost saved in the Supplier invoice
Inventory adjustments Cost Average or the cost edited during the adjustment
Have more questions? Submit a request