Cost Tracking
Cost Tracking ensures precise monitoring of inventory usage and associated costs. By enabling this feature, businesses can enforce accurate tracking of materials used for jobs and systematically record their costs. This simplifies inventory management, eliminates discrepancies, and enhances financial visibility across projects and processes.
When activated, inventory quantities are automatically adjusted in real-time, and costs are accounted for seamlessly, enabling businesses to gain deeper insights into job costing, profitability, and resource allocation. This feature is essential for maintaining accurate stock levels and optimizing operational efficiency.
Prerequisites: Account owners and those with administrator access.
Instructions
- From the main Dashboard, click the Administration tab.
- You will enter the Administration Dashboard.
- Click on Inventory Settings.
- Click Cost Tracking to enter the Admin Settings (Invoice Settings) page.
- The Force Inventory and Cost Tracking field allows you to enable or disable forced inventory and cost tracking:
Set to Yes to ensure that inventory usage and related costs are always tracked for jobs, invoices, or processes involving materials or items.
o Inventory quantities will be deducted automatically when items are used.
o Associated costs will be systematically recorded for accurate job costing and financial reporting.
- Once complete, click Save Changes.
- A green confirmation banner will appear at the top of the page confirming “Settings Saved”.
