Forum Discussion

Gerald1's avatar
Gerald1
User
4 years ago
Solved

Inventory item - Standard cost

Greetings,   When creating a new item, under Buying Details tab, there is a text box called Standard Cost.   I am puzzled why Myob advises dollar value entered under Standard Cost must include ta...
Inventory
  • IanChait's avatar
    IanChait
    4 years ago

    Hi Gerald1 

     

    I wouldn't advise using Standard Costs. It doesn't give an accurate Gross Margin by product, and there isn't a varaince account for the difference between actual and standard cost. I have one very dissatisfied client at the moment.

     

IanChait's avatar
IanChait
Ultimate Partner

Hi Gerald1 

 

I wouldn't advise using Standard Costs. It doesn't give an accurate Gross Margin by product, and there isn't a varaince account for the difference between actual and standard cost. I have one very dissatisfied client at the moment.

 

Gerald1's avatar
Gerald1
User
4 years ago

Thanks for your reply and suggestion Ian. Since it is optional, I have taken your suggestion and decided not to use it.