Change the Average Cost of an Item in QuickBooks

You may need to adjust the Average Cost of an Item to ensure accurate profitability. The proper way to do this is to make the change in QuickBooks. That change will then flow to FieldEdge so that future Invoices and Quotes utilize the new cost.

1. In QuickBooks, go to the List pull-down menu and select the Item List.
2. Right click anywhere on the list and select Adjust Quantity/Value On Hand.
3. Change the Adjustment Type to Total Value.
4. Enter the Date & Adjustment Account in the header.
5. Enter the first Item you want to change.
6. Enter the New Global Value you want.
   • Note: You can calculate this by multiplying the Qty on Hand by the desired Average Cost.
7. Repeat steps 5 & 6 for each Item you want to update. Click Save & Close when finished.
   • Important: This update may take a couple of minutes to reflect in FieldEdge. This will not change the Average Cost of Items already on Invoices. If you wish to adjust the Average Cost of Items on an Invoice, delete the existing Item on the Invoice, wait until the Item updates, and then add it again to the Invoice.