Correct product cost

It’s important to have accurate product costs to ensure Neo calculates the correct unit selling price using the product markup. The product cost is also used when reviewing the total cost on hand of your inventory using the Inventory Valuation report.

Correct a product’s unit cost price:

1. Click your name in the menu bar. Then select Products.
2. Search for one of your products. The product list will filter as you type.
3. In the search results, click the name of the product you want to update.
4. In Unit Cost Price box, enter the supplier’s cost for one selling unit of the product, excluding tax.
   Note: The amount in the Unit Selling Price box is automatically calculated based on the cost and the markup rate.
5. Click Save.