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Topic: Update cost prices
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| By: Colin Foster | Posted on: Mar 12 2023 at 04:52:22 PM | Possibly me missing something in the manual, but how do you amend the costs of inventory items - especially their selling prices (but also cost prices as I tried to raise a PO with a new price & that didn't seem to be reflected in the inventory).
Client has several thousand parts & some of these receive regular updates (especially at the moment). Some are a %age increase, others go up by a fixed amount & others are a part by part basis | |
| By: Guest | Posted on: Mar 14 2023 at 06:22:41 AM | In the program setup (bottom of the menu bar at the left of the program window) is an option to have MiniMRP update purchase prices based on the purchase orders you create. But the price doesn't update as soon as you create a PO. It is updated only when you receive the items at the new price.
If you wanted to increase the price of everything by a specific percentage then one way would be to list "All Components" and export that to CSV. Open the CSV with excel and make a simple formula that adds that percentage in a new column. Then import that CSV back in to minimrp and it'll update the prices. I would suggest making a backup before doing the import in case you pick the wrong options. One thing to look out for when importing is the Revision column. So if you've exported the part number and revision then you must do the import of the part number AND revision. If the part number and revision of importd parts doesn't match what's already in the DB then it'll think theyre new parts and create new ones. | |
| By: Colin Foster | Posted on: Mar 17 2023 at 12:21:52 PM | Hi,
Thanks for that.
Obviously, for stock valuations, stock has to be at the lower of Cost or NRV, but with prices rising so quickly, what my client is (ideally) looking for is a quick way to increase prices so that he can work out the latest cost for a sub-assembly & final build... so possibly the export, tweak & reimport might work.
It's a pity that the "Sell At" price doesn't seem to roll up into the BOM as that would be another way of achieving this whilst, at the same time, keeping the cost prices correct for stock valuation purposes | |
| By: Guest | Posted on: Mar 18 2023 at 03:38:35 AM | Don't forget, we have no way of knowing the cost of stock, in a stock valuation. Other than the current / last price. If this has been automatically updated on receipt, the actual cost of any stock left prior to that is unknown. I.e. we have no average or fifo costing etc.
As other have said, this is a real problem with Minimrp and anyone that holds stock. | |
| By: Guest | Posted on: Mar 19 2023 at 07:25:49 AM | But it's not a real problem for 'everyone'.
There has to be limitations otherwise it wouldn't be "Mini" and everyone has different priorities. My priority would be integration with out accounting system. Our accounting system does do FIFO but it doesn't do BOMs.
We're coming away from a huge MRP package that did everything but that needed continuous training and cost a ton of $$ in updates.
mini mrp has limitations. Some of them annoy the hell out of me but I could think of a dozen additional features I'd rather have before FIFO costing. | |
| By: Guest | Posted on: Mar 22 2023 at 07:32:14 AM | Perhaps you should list some of those addtional features, then Support will know what people really want and not say "No one has ever asked for that".
My point was - if the system allows auto cost update, it MUST provide stock valuation averaging. Otherwise anyone holding stock may be working with the wrong information, thats all. | |
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