This is for you if you track inventory in QuickBooks with average cost.
Example
Last year a product cost $1.50. This year it costs $3.00. Your reports should show $1.50 for last year and $3.00 for this year.
ConnectBooks can do this. It pulls each product's cost history from QuickBooks, so past periods use the cost from that time.
Step 1: Check your costs in QuickBooks (optional)
In QuickBooks, go to Reports and open Inventory Valuation Detail.
Click Customize.
Under Filters, pick the product under Item.
Set the date range to All.
You'll see each purchase and its cost over time.
Step 2: Sync historical cost
Go to Accounting Export and pick the store.
At the top:
QuickBooks Online: click "Sync Historical Cost". It runs in the background.
QuickBooks Desktop: turn on the "Sync Historical Cost" switch. It runs the next time the Web Connector runs, and turns itself off when done.
Big accounts can take a few hours, since we pull the full cost history from QuickBooks.
QuickBooks Desktop: settlements don't export while the sync runs. Need to export now? Turn the switch off, export, then turn it back on.
Step 3: Pick the cost in your reports
In your report's filters, pick a cost type:
QuickBooks Cost: today's average cost from QuickBooks, used for every date.
QuickBooks Historical Cost: each sale uses the QuickBooks average cost from the day it shipped. Best for past periods.
These only show if the store tracks inventory in QuickBooks.
Set your default (optional)
Click your profile icon at the top right and choose Default Settings.
Under "Default Cost Type on Reports", pick QuickBooks Cost or QuickBooks Historical Cost.
Click Save Changes.
Frequently asked questions
I don't see Sync Historical Cost.
It's only for stores linked to QuickBooks on an inventory plan.
I don't see Default Settings.
Only account admins can see it.