Tag: Item Rate

Item Rate in Purchase Order and Vendor Bill when no Purchase Price was Set in the Item Record

The purchase price of non-inventory items can be specified in each individual item record. However, if no purchase price is specified for a Non-Inventory Item for Purchase, the “Rate” field behaves in a persistent manner. This means that whenever a new Purchase Order is generated, the Rate field automatically adopts the rate used in the… Continue reading Item Rate in Purchase Order and Vendor Bill when no Purchase Price was Set in the Item Record

How the rates are populating in item Purchase transactions

The auto-populated Unit Price (default rate) for an item in the purchase transactions (e.g. Purchase Order, Vendor Bill, Vendor Credit) is derived based on this hierarchy: 1. Purchase Price of the Vendor as set in the Item record (If Multiple Vendors feature is enabled in the account) 2. Purchase Price as set in the Purchasing/Inventory tab of the Item record 3. Last Purchase Price used in any purchase transaction type    a. Based on Transaction Date, not Date… Continue reading How the rates are populating in item Purchase transactions