Standard Cost

Standard cost is a method of forcing TireMaster to maintain a steady cost for an item because the item’s true cost often fluctuates. When an item is sold, its standard cost posts to the general ledger.

TireMaster also uses an item’s standard cost as the ordering price for purchase orders and receiving documents when Base Price - Use Instead of Last Cost in PO/RD Line is set to No on the Inventory tab of the System Controls screen. Unless the cost is changed on a receiving document or vendor invoice document, the standard cost posts to the general ledger when an item is received.