Updating the sales price from a bill

When you receive a bill with new product costs from your vendor, you can update each product's sales price (profit margin) based on the new cost. This keeps your selling prices in sync with your actual landed costs.

Before you start

• You have created or are in the process of creating a bill with inventory items
• You want to adjust the sales price of one or more products based on the vendor's new cost
• The product's cost and markup (or target margin) are understood

Steps

1. On the bill form, add line items as usual (see "Adding lines").

2. For each product whose sales price you want to update:

   • Enter the product, quantity, and vendor's unit price on the line
   • Review the product's current sales price (if shown on the line or in a tooltip)

3. Look for an update or sync option:

   • Some bill lines include an Update Sales Price button or link
   • Or, in the product detail, there may be a Recalculate or Update Margin option
   • Click it to open the pricing update dialog

4. Set the new sales price:

   • The system may show the new cost and the current markup percentage
   • You can either:
     • Keep the same markup percentage (e.g., 50% margin) and let the system calculate the new sale price
     • Manually enter a new sales price if you want to change the margin
   • Confirm the new price

5. Apply the update:

   • Click Apply or Update to save the new sales price to the product catalog
   • The bill itself is not affected; the update applies to future sales of that product

6. Finish and save the bill — the bill and the price update are both recorded.

Accounting impact

• The bill records cost and increases Accounts Payable (no effect on sales price at the accounting level)
• The sales price update affects future invoices and sales orders; it does not retroactively change historical transactions
• Margin or gross profit on future sales will reflect the new cost and price

Tips & common mistakes

• Markup vs. margin — markup is a percentage of cost; margin is a percentage of selling price. Confirm which your system uses before updating.
• One-time price changes — if a vendor's price is a temporary deal, consider whether to update your standard sales price; avoid frequent small adjustments.
• Competitive pricing — before updating, check if your market position allows the new price; price increases may require approval or affect sales.
• Batch updates — if many products have new costs, you can update prices for multiple items in one bill; do this systematically to avoid inconsistency.