Your reports need to know what each product cost you. The cost type tells ConnectBooks where to get that number. You'll only see the cost types that fit your stores.
The cost types
Cost type | Where the cost comes from | If it's missing |
Default Cost | ConnectBooks picks the best source for your setup (see below). | Uses the next source in line. |
QuickBooks Cost | The latest average cost in QuickBooks. | Nothing. |
QuickBooks Historical Cost | QuickBooks' average cost at the time of each sale. For example, a January sale uses January's cost. | Nothing. |
Manual Cost | The cost you typed on the Listings page. | Nothing. |
Sellercloud Cost / Goflow Cost | The cost from Sellercloud or Goflow. | Nothing. |
ConnectStock Cost | ConnectStock's FIFO cost (oldest units first). | Nothing. |
ConnectStock Cost with Fallback | ConnectStock's FIFO cost. | The item's own cost in ConnectStock. |
Item Cost | The cost you typed on the item in ConnectStock. | Nothing. |
When each one shows: QuickBooks Cost and QuickBooks Historical Cost show if a store tracks inventory in QuickBooks. Sellercloud and Goflow show if you sync costs from them. The ConnectStock options show if you use ConnectStock.
How Default Cost picks
You use Sellercloud or Goflow: once a store's sync start date is on or before the report end date, Default uses the synced cost. Sales before the sync start date get no cost. If your report ends before your sync start date, your manual cost is used.
You use ConnectStock: if the whole report is after your ConnectStock start date, ConnectStock's FIFO cost, with the item's cost as backup. If the report crosses the start date, ConnectStock's FIFO cost after it, with no item cost backup, and your manual cost before it.
Otherwise: your manual cost from the Listings page. If there isn't one, the latest QuickBooks cost. If you display items by QuickBooks Item Name, it's the other way round: the latest QuickBooks cost first, then your manual cost.
Set your default
Open your profile menu and click Default Settings. You need to be an account admin to see Default Settings.
Under Reports, pick a "Default Cost Type on Reports".
Click Save Changes.
Your reports start with this cost type. You can still change it on any report.
Frequently asked questions
Which one should I use?
Default Cost works for most people. It picks the right source for your setup.
Why don't I see some cost types?
They only show when they fit your stores. For example, the ConnectStock options only show if you use ConnectStock.
What's a fallback?
A backup. If the main source has no cost, ConnectBooks uses the backup so your report still shows a cost.