Hello,

No, changing price will have no effect of previous sales. It will be used for the future sales only.

Thank you

yes, I understand, but the system is not increasing or decreasing the profit, either we increase or decrease the price, am talking about future sales.

Hello,

If you change the price, system will use that new price for all future sales.

SMA has 2 profit/loss report, first general ledger (total sales - total purchases) and second from daily/monthly sales that is calculate as (total products revenue - total products cost) The second method do use the cost as per your inventory accounting method in settings.

Thank you

Yes, I understand your point completely.

When I initially created the product, the cost was $470, and the price was set at $520. Subsequently, I updated the cost to $440. However, when making a sale for this product, the system continues to calculate the profit using the previous cost of $470, rather than the updated cost of $440.

Hi @Faisal Arshad
The SMA system uses the cost you applied during purchase or transfer to calculate profit, so editing the cost via the product module will only affect future purchase or transfer costs, just like price.
An alternative solution will be to edit the latest batches of product purchases and transfers.

My name is @Enyinnaya Gift . I am an Independent software developer with in-depth knowledge of SMA system. I have done a lot of customization for many happy clients across the globe.

You can check out highlights and a demo of my latest customization by Clicking HERE - Highlights

You can also reach me via any of the following mediums for a real-time discussion on your customization request:

-Skype ID: enyinnayag
-Wechat ID: genyinnaya
-Email: [email protected]
-WhatsApp: +2348068355192

am waiting for @Mian Saleem to reply to my request

if we increase or decrease the price , then system work fine , but if we increase of decrease the cost , then it does not affect the profit (it use the cost that was initially added while adding the product)

Hello,

I am confused now. The price and cost are different things. Please do mention your inventory accounting method so that I can answer accordingly.

If you are changing the cost then it might not have any effect on the sale till you have finished the previous stock. Please refer to the documentation.pdf for to know more how the inventory accounting feature works. There is FAQ Can you please explain Inventory Accounting (FIFO/LIFO/AVCO)?

Thank you

Faisal Arshad That's the same thing I said: increasing or decreasing the product cost will not affect the profit because the SMA system is designed to use the cost you used when you added quantity, either through the purchase, or adjustment, or transfer from one location to another. The new cost will only apply to the new or future quantity that you add.

But an alternative solution will be to edit the latest batches of product purchases, or adjustments, or transfers and change the cost to your new cost.

My name is @Enyinnaya Gift . I am an Independent software developer with in-depth knowledge of SMA system. I have done a lot of customization for many happy clients across the globe.

You can check out highlights and a demo of my latest customization by Clicking HERE - Highlights

You can also reach me via any of the following mediums for a real-time discussion on your customization request:

-Skype ID: enyinnayag
-Wechat ID: genyinnaya
-Email: [email protected]
-WhatsApp: +2348068355192