All Collections
Inventory
Adding Cost/Net To Inventory
Adding Cost/Net To Inventory

How to edit and add costs and net from your store's inventory.

Shandara Hart avatar
Written by Shandara Hart
Updated over a week ago

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,

  1. Click Products

  2. 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

  3. Complete/Edit the product details and price that the item will be sold for

  4. In the Cost/Net field enter the original cost of the item

  5. Click Save/Update.


Adding Net for Consigned item:

In Ricochet,

  1. Click Accounts

  2. Click Consignors

  3. Click the edit pencil icon to the right of the consignor needing edited

  4. Click the Inventory tab

  5. 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

  6. Complete/Edit the product details and price that the item will be sold for

  7. In the Cost/Net Field, enter the amount the consignor will receive when the item has sold

  8. Click Save/Update.

Did this answer your question?