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PARDONMUSHAMBI
June 2, 2022
Solved

Automatic update of cost of goods from bill of materials QUICKBOOKS PREMIER.

  • June 2, 2022
  • 2 replies
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I am using Quickbooks Premier Accounting Edition. My critical issue is this: - Is there a way that the cost can just update itself to the bill of materials cost rather than me having to manually change it? We feel short-changed here. Our company is still exceedingly small and as such, we may not need to purchase the enterprise edition. I believe one of the many functions of an accounting system is its ability to update costs in real time. Updating automatically eliminates the human error aspect of accounting and i feel this way since we produce about fifty assorted products and going one by one changing the cost defeats the whole purpose of having a system.

I will appreciate any suggestions to my problem

Best answer by jaapkrijger

Hi, I encountered the same issue and it's actually worse than you think. Even with inputting new purchases, the price is never updated in your assemblies. The solution I found to ensure all assemblies are updated at once is:

1. Rename the purchased item OLD_XXX

2. Register a new stock item with original name and updated price

3. Merge OLD into the new item

Now all assemblies will reflect the new price.

 

As for the cost in the two fields you point our in the assemblies themselves, you'll need to update manually.... I know....but do we say?

2 replies

AlcaeusF
AlcaeusF
June 2, 2022

Hello @PARDONMUSHAMBI,

 

I appreciate you for adding a screenshot about the feature you need in the Premier version. I'm here to clarify things about updating the cost of goods sold in QuickBooks Desktop.

 

The features you can use when navigating QuickBooks will depend on the version. As of now, the automation for the cost is only available in QuickBooks Desktop Enterprise.

 

It's a great suggestion to be able to include the option in other versions like Pro and Premier. The option will benefit many users when managing the inventory.

 

We continue to provide updates to improve our product. As we assess the requested feature, I encourage sharing your feedback directly with our product engineers.

 

Here's how:

 

  1. Open QuickBooks Desktop.
  2. Click the Help tab at the top menu bar.
  3. Hover your cursor to Send Feedback Online, then select Product Suggestion or Help System Suggestion.

 

While waiting for a future update, the only workaround is updating the information manually.

 

Some QuickBooks features can help with tracking products you build using inventory parts. For more details, I've attached a link you can use to learn more about how you can check your stock and pending builds, as well as reorder components from vendors: Track the products you manufacture.

 

Don't hesitate to drop a comment anytime you have additional questions about managing inventory in QuickBooks. I'm always available to lend a hand.

J
jaapkrijgerAnswer
June 28, 2022

Hi, I encountered the same issue and it's actually worse than you think. Even with inputting new purchases, the price is never updated in your assemblies. The solution I found to ensure all assemblies are updated at once is:

1. Rename the purchased item OLD_XXX

2. Register a new stock item with original name and updated price

3. Merge OLD into the new item

Now all assemblies will reflect the new price.

 

As for the cost in the two fields you point our in the assemblies themselves, you'll need to update manually.... I know....but do we say?

    AlcaeusF
    AlcaeusF
    July 12, 2022

    Hello @jaapkrijger,

     

    I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

     

    We love to see members supporting one another! Have a great day.

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