Monitor and Update Standard Costs

Keep track of your Standard Costs

1.  View the Standard Cost of your parts.
2.  Compare those costs to the Last Purchase Cost.
3.  Change the Standard Cost to the Last Purchase Cost. 
Information on Costing Methods can be found here:  Costing Methods
If you use standard costs to markup part prices, the Monitor & Update Standard Costs tool can be used to change standard costs to equal the current last purchase cost.  To access this tool. click on Monitor & Update Standard Costs under the Things To Do List.
In the pop-up, click on the Generate List of Parts button
Enter the appropriate inventory warehouse at the top of the screen, select a radio button to generate a list of parts with a last purchase cost that is greater than or less than the current standard cost, then enter an amount or percent under variance before clicking Generate.
A list of parts will be generated and displayed.  Use the Select AllDe-select All, and Select check boxes to select which part prices to modify, then click Update Standard Costs at the bottom of the screen to change the standard price to be equal to your last purchase cost for the selected parts.