Forum Discussion

Jayce89's avatar
Jayce89
Experienced Cover User
5 years ago

Keeping track of supplier costs and item costs

Hi MYOB, 

 

I've currently set-up individual cost of sale accounts for each of our ingredients e.g. pork trim, pork shoulder, pork fat. I"ve also created a cost of sale account for each supplier. 

 

At the moment I am able to keep track of how much of each ingredient I am buying in a dollar value however, I cannot see how much I am spending with each supplier. We have 4 suppliers of pork which we regularly buy from. Is their a way to maintain this current set-up but also have MYOB keep track of how much I am spending with each supplier in total? This would be extremely helpful if we are able to do this. 

 

Please help. 

Inventory
  • Neil_M's avatar
    Neil_M
    5 years ago

    Hi Jayce89 

     

    You could look at running the purchase Register Detail [All Purchases] report. This report can be filtered by a single, multiple or all suppliers as well as the status of the purchase (such as closed or open). Additionally, this report can also have a column added to it through inset/modify >> Show/Hide to show how much as been paid on each purchase

  • Neil_M's avatar
    Neil_M
    Former Staff
    5 years ago

    Hi Jayce89 

     

    You could look at running the purchase Register Detail [All Purchases] report. This report can be filtered by a single, multiple or all suppliers as well as the status of the purchase (such as closed or open). Additionally, this report can also have a column added to it through inset/modify >> Show/Hide to show how much as been paid on each purchase

    • Jayce89's avatar
      Jayce89
      Experienced Cover User
      5 years ago

      Hi Neil, 

       

      Thanks so much! this is perfect. 

       

      Since i've created individual COST OF SALES accounts for each item am I correct in assuming the Expense Account for each Supplier Card can be left blank? Currently, I've created a COST OF SALES account for each supplier to be in place here but I've noticed the balance remains at $0.00 because it is only for non-item purchases which never occur. 

       

      • Neil_M's avatar
        Neil_M
        Former Staff
        5 years ago

        Hi Jayce89 

         

        If the supplier was never going to be used for anything other than item purchases, then yes you could omit entering the Expense account on the supplier card. This field is designed for use on non item invoices where you’re tracking the costs spent on a specific supplier through an account unique to them

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.