Invoice Cost Change Report

Invoice Cost Change Report

Invoice Cost Change Report Overview 

The Invoice Cost Change Report will display the changes in the cost of the product(s) on an invoice. The system will display records of changes in the cost of the product(s) on an invoice only for the specifically selected date range. The system will also display the UPC, the product name, the vendor part number, the old cost on an invoice, the new cost on an invoice, the date and time stamp of changes to the cost of the product(s), the old profit margin in percent, the old retail price of the product, and the system-generated suggestions for a new price.

Reaching the Invoice Cost Change Report  

To reach the Invoice Cost Change Report, follow the below steps:
  1. Step 1: Log into Control Center
  2. Step 2: Choose Point of Sale
  3. Step 3: Choose Reports
  4. Step 4: Choose Inventory Reports
  5. Step 5: Choose Invoice Cost Change Report 
See Figure A. You will see many types of inventory reports that will be useful to your retail business. By clicking the "Choose Report" drop-down menu, you will see the different types of inventory reports.


                                                                                            Figure A
By clicking "Invoice Cost Change," you will be redirected to the "Invoice Cost Change Report," where you can see relevant filtering and sorting options.

                                                                                                      Figure B

1. Generating the Invoice Cost Change Report

To generate the "Invoice Cost Change Report," follow the steps below. (See Figure B above.)
  1. On the "Invoice Cost Change Report" page, you will see the "Choose Report" drop-down selection.
  2. By clicking the drop-down selection, you will see different types of inventory reports in alphabetical order.
  3. Search for "Inventory Report" from the list and click on it.
The following data gets fetched in tabular format when you click on the "Generate Report" button in the top right corner; the "Invoice Cost Change Report" will be displayed as highlighted in Figure C.


                                                                                                 Figure C

                                                                                                Figure C(1)

Fields:
  1. Item Name: This column displays the list of item names whose prices have been manipulated.
  2. UPC: It is a Universal Product Code (UPC) that helps in keeping track of items at the store that are assigned to the items listed in the adjacent Item Name column.
  3. Vendor Part: This column displays the vendor part number, a unique number provided by the vendor for the product included in the invoice cost change.
When a retailer places an order, the vendor sees the part number because the product's UPC is observed differently in the vendor's system. This part number is assigned to the vendor, is unique, and can't be used anywhere else other than with the associated product.
  1. Invoice Number: This column displays the record of invoice numbers on which the listed product(s) have undergone any cost change. 
  2. Invoice Date/Time: This column displays the invoice date on which it was originally created. 
  3. New Invoice Part Cost: This column displays the new vendor part cost of the product (parent) that was ordered.
  4. Original Invoice Part Cost: The column displays the vendor part cost of the product that is unique and set by the vendor.
  5. Original UPC Cost: This column displays the original UPC cost per item for the ordered items.
  6. New UPC Cost: The New UPC Cost will display the new/updated UPC cost per item for the ordered items.
  7. Original Retail Price: This column displays the Original Retail Price (Store Selling Price) of the product associated with the price.
  8. Suggested Retail Price: This column displays the suggested retail price generated by the system for the item whose cost has been altered. This is generated, keeping the profit margin in perspective.
  9. New Margin: This column displays the new margin based on the original profit margin calculation. 
  10. New Retail Price: This column shows the new retail price (new selling price) of the product on the invoice after the cost change.

2. Filter Options:

Let's understand the custom filter options to generate the Invoice Cost Change Report by setting up specific criteria.

2.1 Save Filter and Custom Filters for "Invoice Cost Change Report"

You can generate the Invoice Cost Change Report for all store locations with the "Show All" option or a customized report with "Custom Filter." 


                                                                                        Figure D

You will see the different tabs to filter the items for the "Invoice Cost Change" report. You can choose the required filter category.
  1. You can select the saved custom filter from the drop-down selection.
  2. The "Manage Filters" button will open the list of the saved custom filters. See Figure E.
                              Figure E
  1. Select Filter: You can select any filter from the list to generate the desired "Invoice Cost Change" report. Select the filter from the list and then click on the "Select Filter" button.

2.1.1: Filter Items by Different Categories

Select the "Manage Filter Category," say "Vendor," and you will see many options listed below. See Figure F below.


                                                                                           Figure F

See Figure G. Now, let's see how to check the "Invoice Cost Change Report" with different filters. The data in the "Invoice Cost Change Report" can be filtered into different categories as well. The filter options are:
  1. Vendor: If you select "Vendors," you will get vendor-specific data for the group that is entered in the product details. 
  2. UPC: It stands for Universal Product Code (UPC), which helps in tracking items at the store. This UPC column displays the UPCs of the items that are listed. 
  3. Department: If you select "Department," you will see a report of items that are transferred department-wise. 
  4. Manufacturer: If you select "Manufacturer," you will see the manufacturer-specific inventory data in the report of the items that are transferred.
  5. Category: If you select "Category," you will see the product's category-wise inventory data in the report. You can check the inventory data in the report at the category level. You need to select the level from the "Category" drop-down selection. 
  6. Tag: If you select "Tag," you will get the tags-wise inventory data for the group that is entered in the product details. When you select the "Tag," the specific tag group will be enabled. 
  7. Invoices: If you select "Invoices," you will get invoice-specific inventory data for the group that is entered in the product details. 

                                                                                         Figure G

1. Selected List: You will have one flag to decide whether you want to "Include" or "Exclude" the selected records when Figure G is generated.
  1. Include: If the flag is selected as "Include," it means the "Invoice Cost Change Report" will be generated by applying the selected records. See Figure G above.
  2. Exclude: If the flag is selected to "Exclude," it means the "Invoice Cost Change Report" will be generated without including the selected records. See Figure G above.
2. Clear Selection: You can remove any record from the list by clicking the "Remove" (x) icon. If you want to remove the whole selection, click the "Clear Selection" button.
 

2.1.2 Save Custom Filter

You can also save the configured custom filters for future use. By clicking the "Save Filters" button, a pop-up will appear to allow you to enter the name of the custom filter.


                                                                                 Figure H
  1. Click on "OK" to save the filter; once saved, click on "Apply" to apply the filters to the report.
2.2 Date Range
  1. You can filter your sales data in the report between the dates and select a specific time from the Start Date and End Date drop-down calendars.
  1. By clicking the edit box, you will get the drop-down calendar to select the specific date range. You can also manually enter the date in mm/dd/yyyy format.
  1. You can also generate a report with a specific time duration (till morning/evening), and you can select the particular time (hour and minutes) from the date selection. See Figure I.

                                                                                                       Figure I

2.3 Presets

Presets drop-down menu is provided to select the specific duration/interval to generate the "Invoice Cost Change" according to the selected time period.


                                                                                            Figure J

3. Worksheet Form

This is a form to display the Invoice Cost Change Report, where you can directly set the "New Retail Price" from the report page itself.


                                                                                                      Figure K

See Figure L.
1. To set the New Retail Price, click on "Apply" as highlighted in Figure K.
2. Set the value of the New Retail Price of the item adjacent to the dedicated row.
Say, if you fill in the value of the New Retail Price of the item ($1 Million Fever #1159) as $10.00.


                                                                                           Figure L

3. Click on the "Save" button as highlighted in Figure L, and the product ($1 Million Fever #1159) will now be retailed at a $10.00 price. 
See Figure M.


                                                                                                     Figure M
4. Difference Filter

The Invoice Cost Change Reports can be filtered with different filters: 


                                                                                     Figure N

1. Include All Differences: This report filter will include all records in the report with all the differences calculated by the system between the Original Invoice Part Cost and New Invoice Part Cost. 

See Figure N above.

2. Include Difference Greater Than: This report filter will include all records in the report with all the differences greater than the "Diff. Amount" value calculated by the system between the Original Invoice Part Cost and the New Invoice Part Cost. 


                                                                                                        Figure O

3. Include Difference Lesser Than: This report filter will include all records in the report with all the differences lesser than the "Diff. Amount" value calculated by the system between the Original Invoice Part Cost and New Invoice Part Cost. 


                                                                                           Figure P

4. Include Difference Under/Over: This report filter will include all records in the report with all the differences that are greater, lesser, or equal to with respect to the "Diff. Amount" value calculated by the system between the Original Invoice Part Cost and New Invoice Part Cost.


                                                                                                  Figure Q

5. Sort By:

The Sort By option will sort the invoice cost change report into 8 different formats. See Figure R.

                                                                                  Figure R
  1. Name Ascending: This filter option will sort the item Names in ascending alphabetical order and display the report in that order.
                                                                                            Figure R(1)
  1. Name Descending: This filter option will sort the item Names in descending alphabetical order and display the report in that order. If the name starts with a numerical value, it will be displayed first.

                                                                               Figure R(2)
  1. UPC Ascending: This filter option will sort the UPC of the items in ascending alphabetical order and display the report in that order.

                                                                         Figure R(3)
  1. UPC Descending: This filter option will sort the UPC of the items in descending alphabetical order and display the report in that order.

                                                                               Figure R(4)
  1. Invoice Date/Time Ascending: This filter option will sort the Invoice Date/Time in ascending alphabetical order and display the report in that order.

                                                                               Figure R(5)
  1. Invoice Date/Time Descending: This filter option will sort the Invoice Date/Time in descending date/time order and display the report with it.

                                                                             Figure R(6)
  1. Location Ascending: This filter option will sort the Location in ascending alphabetical order and display the report in that order.

                                                                         Figure R(7)
  1. Location Descending: This filter option will sort the Location in descending alphabetical order and display the report in that order.

                                                                                         Figure R(8)

6. Group By:

This filter will group the report by location when selected.

                                                                                      Figure S
  1. None: By default, the "None" option is selected, and it doesn't have any effect on the report format.
  2. Location: Selecting this option will group the report by the "Selected" or "All" location.

                                                                                   Figure S(1)


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