Introducing New Costing Method 'Last Purchase Price' in Odoo.
Costing Method: Last Purchase Price
Key Highlights
Product's Cost as Last Purchase Price
This module allows you to update your product's cost as your last purchase price and changes the stock valuation based on that.
A New Costing Method
A new costing method is added to the list and can be chosen from product category form.
Compatibility
Designed to work with both Odoo Community and Enterprise editions.
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Set Product Cost.
Product form showing the cost.
Set Costing method
Select the Product category and set costing method as Last Purchase Price.
Set Price Difference Account
Set a price difference account in product form.
Create Purchase Order
Purchase order created with new cost.
The Cost is Updated
Cost updated in the product form with the new cost.
Journal Items
Journal item generated by the price change.
Automatically posting price difference related accounting entries to the 'Price Difference Account' when we use automated inventory valuation.
A new costing method is added to the list and can be chosen from product category form.
Cost price of products will be updated with their last purchase price.
The Last Purchase Price method calculates the cost of inventory based on the most recent purchase price of the item, ensuring that the value reflects the latest market conditions.
Inventory valuation using the Last Purchase Price method can fluctuate based on recent purchase prices, which can lead to more accurate financial reporting and better cash flow management.
Yes, in systems like Odoo, the Last Purchase Price is automatically updated whenever a new purchase order is processed, ensuring that inventory costs remain current and accurate.
Latest Release 18.0.1.0.0
4th October, 2024- Initial Commit
