Inventory Items — Standard cost — Recalculate

The Recalculate Standard Cost feature in Manager allows you to update the standard costs of your inventory items. This guide explains how to access and use this function.

Accessing the Recalculate Function

1. Navigate to the Inventory Items tab.

2. Ensure the Standard Cost column is visible:

   • If you do not see the Recalculate button, it means the Standard Cost column is not displayed.
   • Use the Edit Columns feature to show the Standard Cost column.
   • For more information, see Edit Columns.

3. Click the Recalculate button located above the Standard Cost column.

Alternatively, the Recalculate button is also available when drilling down into the Inventory on hand account from:

• The Summary tab.
• Financial statements such as the Balance Sheet, Trial Balance, or General Ledger Summary.

Using the Recalculate Feature

1. Press the Recalculate button.

   • Manager will calculate the standard cost for each of your inventory items.

2. Review the Updated Standard Costs:

   • If the standard cost for an inventory item has changed since the last recalculation, the new updated Standard Cost will be presented.

3. Accept the Changes:

   • Click the Batch Update button at the end of the screen to apply the new standard costs.

4. If No Changes Are Detected:

   • You will see the message All values are up to date.

   • Click the Go back button to return to the previous screen.

Tips

• Regularly recalculating standard costs ensures that your inventory valuations remain accurate.
• Making the Standard Cost column visible can provide quick insights into your inventory items' cost basis.

For further customization of your views, refer to the Edit Columns guide.