How to update cost

Poster automatically calculates the cost according to the supplies and stock balances.

Max avatar
Written by Max
Updated over a week ago

To update or set new cost for ingredients and products add supplies.

Add supplies to your stock timely. If the dish ingredients are missing in stock, the dish cost and food cost ratio will be incorrect.

⚠️ You can’t change the cost by editing products or dishes.

To add a supply:

  1. Go to Inventory → Supplies in the management console.

  2. Click Add.

  3. Enter supply's time and date.

  4. Select a supplier or add a new one if the needed is not on the list.

  5. Select storage where you keep the products once supplied.

  6. Add existing ingredients and products.

  7. Enter their quantity, price per piece, or total sum.

  8. Click + Add payment in the Payment field above, and select the Account to pay for this supply.

    💡 Edit the amount of the supply payment:

    • To get supplies on credit terms. For example, if the supply is paid far later than it's received. Enter “0”, and Poster will automatically calculate the debt balance;
    • To split the supply payment between different financial accounts. To do this, after editing the payment amount, click + Add payment again and fill in the information about each transaction: Account, Payment Date, Time, Amount.

  9. Click Save.

💡 Cost of products and ingredients is calculated by the weighted average formula:

total cost of ingredient in stock / amount of ingredient in stock.

For example, you've added two supplies of apples with different weight and cost: 50 pounds for $5 per pound and 25 pounds for $7 per pound. Poster will calculate the average cost:

(50 pounds × $5 + 25 × $7) / (50 pounds + 25 pounds) = $5.67 per 1 pound of apples.

Feel free to write me if any questions left. I'll be back to help soon!

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