Setting Up Standard Cost Items

To maintain a standard cost for items, you need to do the following:

Define which GL codes can be used for tracking a standard cost.
Assign those GL codes to the items for which you want to track a standard cost.
Define the standard cost amount for items that are assigned the GL codes for standard cost.

To set up standard cost items

1. Select the Std. Cost check box on the Inventory GL Code Maintenance screen for each GL code that will be assigned to standard cost items. See Creating GL Codes for more information.

2. Assign a standard cost GL code to each item you want to maintain a standard cost for on the Inventory Maintenance screen. See Adding Items to the Inventory.

3. On the Site Prices and Quantity screen, type the standard cost in the Std. Cost field.