The Cost and Net fields provide a way to record original price of products or override splits to give a set amount to sold items.
Traditional store inventory that you purchased from a wholesaler would be a good reason for using the cost field to record the original purchase price of an item.
When adding a consigned item, the net field can be used to place a net amount to consignor owed; overriding what would normally be a product split. The net value will be what the consignor is owed on a payout regardless how much the item sold for; including if the item received any discounts.
Adding Cost of a Store-Owned Item:
In Ricochet,
Click Products
Click New Item in the upper right to create a new item
OR
Click the edit pencil icon to the right of an existing product to edit the item
Complete/Edit the product details and price that the item will be sold for
In the Cost/Net field enter the original cost of the item
Click Save/Update.
Adding Net for Consigned item:
In Ricochet,
Click Accounts
Click Consignors
Click the edit pencil icon to the right of the consignor needing edited
Click the Inventory tab
Click Add New in the upper right to create a new item
OR
Click the edit pencil icon to the right of an existing product to edit
Complete/Edit the product details and price that the item will be sold for
In the Cost/Net Field, enter the amount the consignor will receive when the item has sold
Click Save/Update.