Lightspeed | Changing supplier prices after go live

The article will show you what you need to do when changing supplier prices on a product shortly after the migration from NetSuite to Lightspeed. 

When receiving stock, the inventory value (increase) is the number of units x the supplier price. 

Scenario

If you are doing a stock count and the inventory value of the product is wildly out, this is what happened and how to fix it. 

But when doing the inventory count, the value does not match the retail nor the supplier price at all.

What happened

If, in the initial migration purchase order, the stock was received into the system with an incorrect supplier price, or a box of 10 price instead of the single bottle price, the system remembers this price as that was the price you 'paid' when purchasing this product. If you are making changes to the stock count, then it will take this initial price to calculate the inventory value. 

The solution is to reset the supplier prices for the impacted stock to 0, then add the correct supplier price. 

Solution

1. Navigate to Catalog > Products. Use the filters to locate the product(s) you wish to adjust. Click Export list... and select CSV format.

   
   

2. Navigate to Inventory > Inventory count and click Add inventory count. Name the inventory count as "COGS correction". Select an outlet, then click Partial count. 
3. Scroll down to Filter products and add the products you want to adjust. Click Start count.

4. 

5. Do not count any products, click Review instead. Then, click Complete. This will revert your inventory to zero for the selected products. Click Submit.

6. 

7. Now, navigate to Inventory > Stock control > Order stock and create a purchase order for all the products in your inventory count.
8. Receive the stock order under Inventory > Stock control > Receive stock. Once you receive the order, your inventory will be added back to Retail POS and the COGS will reset to match the supply price of the product.