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It is truly unbelievable and completely unacceptable that this isn't a standard feature/option of any modern accounting system, let alone have one of the biggest platforms on the planet give it no consideration for YEARS! Not to mention the plethora of support questions and versions of this request that are littered throughout this community.

Why isn't such a basic and obvious request being considered? I would expect this to be a consideration for a lean start up with a 1 man dev team let alone a mammoth with a dedicated dev team. Please help me understand?

Agree with comments below, absolutely amazed that Xero does not provide such a basic facility

I cant believe this is still not a standard function... the point of paying a premium for software is to run our business smoothly and make a profit.. up to date information should be paramount - XERO seem set on creating issues for users rather than solving them.. this is literally a NO BRAINER!!
Unless you manually record these then manually go in and update them, you are leaving money on the table every time you sell an inventory item.. margin mark up should also be an option to ensure you are always recouping your costs and margin.

Option to update product cost changes
I think it would be great for Xero to have the option when entering a Bill and you enter the cost you get a pop up asking if you would like to update the cost in your product and services list. Would save having to open the Product and services in an additional tab or on second screen to input new costing

Such a surprise and very disappointing that this is not standard in Xero, it's in MYOB!! You can access the products and services directly through the bill when inputting AND it automatically updates the purchase price so you are aware of the last price that was paid. This is critical so that if there is a discrepancy it can be monitored, and the sale price can also be amended to cover the purchase cost increase. If I knew this before I changed to Xero I would have thought twice before changing over!!

It's not just the purchase (cost) pricing, but the sale price that needs to be able to be updated when entering stock/bills. This will save considerable time,and I would consider it a critical function.
In MYOB you had the option to be able to update both cost and retail prices right there in the one screen as you entered a bill.
This really needs to be a standard feature in any accounting package no matter how basic.

also a feature to increase all products and services by an amount (% or £) each year or whenever it becomes necessary.
Dont want to keep importig/exporting data.
This was a feature on qb desktop.

With the constant rising of prices, this feature is becoming critical!

This is one of our biggest frustrations with Xero. We previously had MYOB that automatically recorded our last purchase cost. Now we are losing time and potentially profits having to remember to update the hundreds of items that we purchase. This should be a standard feature and I'm a little surprised that it isn't.

In MYOB when you entered a supplier invoice it automatically updated the product cost. This is beneficial when there are supplier increases (especially the little sneaky ones they don't tell you about) or when you negotiate a better discount and they (believe it or not) reduce the price a little.

We have prices that constantly fluctuate and it is very time consuming to have to constantly update the price item by item. Very frustrating. I agree with Riaan would have expected it to be a standard - or at least have the option to turn this on or off as needed.

This is something I expected to be standard. If the system update the "on hand", why not the cost price?

Hi Kelly

That still requires us to remember that an item has changed at the point where we sell it. What we need to be able to do is easily record that the cost has changed at the point when we BUY it.

Hi Kelly, it is more critical to be able to edit the inventory items from the Bills so that when we enter a Bill from our supplier if the cost of the inventory item has increased (as has been happening due to inflation) then we can quickly and easily update the sales price in the inventory so that we can maintain the correct margin on our products. Can you please extend the edit function from invoicing into bills as well.

It's not the ability to edit from new invoicing, but rather when the items are purchased ie from a bill, that it is important to update the cost.

We really need the ability to edit inventory straight from bills. I'm double handling things and it leads to mistakes and inaccuracies when I'm invoicing. Please consider making this change!

It would be better if the products were able to be edited from Quote documents. Since we almost always start with a Quote. This is in response to being able to edit items from invoice lines.

Hi @Kelly, I still don't think this solves our issue. Firstly, you have only addressed items we invoice but not items we are billed for. If we are uploading bills into the system and they include items that we track, then there is no way for us to update the pricing of each item like you are suggesting we do in the "new invoicing"...This option of automatically updating prices when creating invoices and bills are both important, but I do feel like most of us are referring to bills.

Another issue with inventory is when I assign items to a project from a bill why does it not take it out of stock or show anywhere in the inventory section that items are allocated to a project? I feel like assigning items to projects is only half doing the job. Yes, an expense "a dollar value" is charged to the project by doing this action, but nothing about it affects the stock count. From what I understand the only time we can affect the stock count is once the item has been invoiced, but, if materials are being used to make an item then technically they are no longer in stock or for better words they have been allocated to a job. Or the items were delivered before the bill was entered into Xero and the purchased items are already being used...If I wait until invoicing an item before stock is affected then this is not an accurate or true representation of stock count...Also my company will never invoice each individual item because that would create a 100+ line item invoice. A product bundle system would work much better where many items make 1 product.

Not having this feature takes away the autonomy of Xero. Our stock controller is very frustrated that prices do not update automatically when billed for a different amount, prices for us are almost always changing, nothing stays the same price for very long.

This would be amazing, especially paired with the ability to set a standard markup or margin so that when you entered a bill that saw the cost price on an item had increased then it automatically updates the sales price in inventory according to the standard margin or makeup set.