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I cant believe a software update or development to make this happen has never been implemented, - If you running Xero to track inventory you are garanteed to loose money. Since we moved completely over to xero we been loosing money on this product cost issue, If I had known from the begging that Xero does not update cost with the Latest bill, I would not have made the move to xero....

WE buy from several different suppliers both supplying the same basic product and if the latest price was automatically updated would make life a lot easier.

THIS! 2.5 years ago shared with the 'team' and its still not a thing in Xero. Ridiculous.

To do a simple price adjustment to a bill or a PO and have it automatially update to the most recent purchase price is a simple fix that should be done as the process to go in and manually adjust inventory and then price is laborious when it could be done simply in 30 secs rather than the day it has taken me to get a response from Xero Central for what to me seems a fairly simple transaction

Would love to be able to amend the price in Xero ONCE, instead of having to 1) alter the pricing in your Purchase Order and 2) edit the price in Products & Services?
This generally occurs when you send a supplier a Purchase Order from Xero and the supplier sends you an order confirmation with the updated pricing due to a price increase since your last purchase.
Once the change has been made in Xero, we should be able to produce a new Purchase Order to the same supplier, the price will be showing the updated price

Agree with all of the OPs
I'm not seeing anything from Xero that's current, only the April 27, 2023 response. Am I missing something more recent?

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!!

This is so important, we waste so much time having to then go into the item and update the price.

Products & Service should ask if we wish to update cost when entering an amount that is different to the one in the system. We still have prices from 5 years ago in the Products and Services because as we enter bills with new prices, it does not update the back end.

Products & Service should ask if we wish to update cost when entering an amount that is different to the one in the system. We still have prices from 5 years ago in the Products and Services because as we enter bills with new prices, it does not update the back end.

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!

I 100% agree. This should be a standard option. We waste time and potentially money if we get busy and forget to update our last cost.

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.