Within the software, we can have the inventory system update the cost of the inventory on a regular basis. There is two main options to achieve this, which includes:
- Periodic – typically done during month end
- Perpetual – done in real time
- Once you set this to perpetual, your inventory in your accounting report will be changing on the go.
- Make sure that all your locations are allocated a line of accounts (in your CoA). Without a line of account, the inventory cannot be updated.
In order to set this up, go to:
Main Menu > Settings > Inventory Settings > Inventory Costing Mode (at the bottom of the page).