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Sconners's avatar
Sconners
Member
2 months ago

Inventory - why is the "Standard Cost" field GST inclusive when nothing else is?

As the title states. It is insanely irritating that I have to manually add GST to every single item I enter into my Accountright inventory in the "Buying Details" field. If the price given by m...
Sconners's avatar
Sconners
Member
2 months ago

Doreen_P

Unfortunately I've already tried that mate. I've obviously tried every option I can find. 


As soon as you create a Purchase Order it reduces the price you input by 10% down from $72.01 to $65.46.

 

 

 

Genreve_S's avatar
Genreve_S
MYOB Moderator
2 months ago

Hi Sconners, 

 

Sounds like you've been wrestling with this inventory amount for a while now. In AccountRight, the Standard Cost field is always treated as GST inclusive, so your $72.01 drops to $65.46 when the purchase is ex‑GST.

To stop that happening, you can either:

  • Enter the inc‑GST price as the Standard Cost, or
  • turn off Setup > Preferences > Inventory > “Use Standard Cost as the Default Price on Purchase Orders and Bills” and just type the ex‑GST price you want on the PO.

There’s definitely room for improvement there.

 

Regards,
Genreve 

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