Add a cost
To add a cost to the the Cost Admin database In , the costs of the products, materials or recurring expenses that you typically use while working on a job can be stored in the Cost Admin database (at Business > Settings > Costs). When you are working on an estimate, quote or job you can quickly access a cost from the database, simply by typing its name in the description field (on the cost information screen). :
- On the toolbar click the Settings
icon.
- On the General Settings tab, make sure that the Costs section is selected.
- On the Costs screen (Costs), make sure that the Cost List tab is selected.
- Click the + Create New Cost button.
- On the New Cost screen, provide information, as required (see Data field reference, below).
- Save your changes.
Edit a cost
To edit a cost item in the the Cost Admin database:
- On the toolbar click the Settings
icon.
- On the General Settings tab, make sure that the Costs section is selected.
- On the Costs screen (Costs), make sure that the Cost List tab is selected.
- (optional) In the search box, type any part of the description of the cost you want to edit. displays the descriptions of any costs that match what you have typed.
- Drill down on the cost description.
- On the Edit Cost screen, view or change information, as required (see Data field reference, below).
- Save your changes.
Data field reference
Field | Description |
---|---|
General Information | |
Description |
A descriptive name for the item, such as Cat 6 ethernet cable, mileage or hot water cylinder. |
Unit Cost |
The cost per item. |
Unit Price |
The price of each item based on the Unit Cost and the markup. The price is calculated automatically using the default markup % set in your Markup % Organisation Setting. However, you can override the default Markup % by specifying a different value in the Calculate Markup dialog, or by typing a value directly into the Unit Price field. |
Supplier |
Name of the supplier of the item. Select the supplier from the drop-down list or add a new supplier if required. |
Cost Code |
A code number or characters that uniquely identifies the item – usually the supplier's reference code. The code can also be used to set a default description for use with new progress invoices for deposits (see Create a default progress invoice description). All costs in the Cost Admin database should have a code value in this field. The code field is mandatory when you import costs, as uses the code value to avoid creating duplicate items. |
Type |
The type of cost item.
|
Billable |
Indicates if the item is to be included in invoices for billable work (billable is the default setting). If you do not wish to bill for the item, drag the switch left to make it non-billable. |
Cost Notes |
Any information that you wish to display in the cost line for this item in quotes or invoices. |
Tax on Invoices, Quotes and Estimates | |
Tax 1, Tax 2 |
Use this tax field only if the tax rate on this item is different from your default tax rate used on invoices, quotes and estimates. Select a tax rate from the drop-down list. You can specify two tax rates if you need to cater for a regional tax and a federal tax rate on the item. If only one tax rate is applicable, leave the other tax rate at its default value: Client financial setting. |
Tax on Purchase Orders | |
Tax 1, Tax 2 |
Use this tax field only if the tax rate on this item is different from the default tax rate used on purchase orders. Select a tax rate from the drop-down list. You can specify two tax rates if you need to cater for a regional tax and a federal tax rate on the item. If only one tax rate is applicable, leave the other tax rate at its default value: Supplier financial setting. |
Xero Tracking (this section is available if you have ever connected your account to Xero. If the connection is not currently active, the Category and Option drop-down lists will be empty. For details, see About Xero (settings)) | |
Category |
Use this field to select a tracking category you have set up in Xero. You can have a maximum of two active tracking categories at any one time. For further details, see Xero GL account codes and tracking categories. |
Option |
If you have selected a tracking category, you can use this field to choose the option you wish to track. For example, if the tracking category is the Sales Region, you might select Northern region. A tracking category can have as many options as you require. |
Interface Information | |
Income Account |
Use this field to specify an income account that will be used instead of the default income account (see Set up the Xero interface for details). |
Cost of Sale Account |
Use this field to specify a cost of sale account that will be used instead of the default cost of sale account (see Set up the Xero interface for details). |