Inventory Costing Software, From Receipt to Margin

Inventory costing software works out what each unit in stock cost you, freight and duty included, and keeps that figure current as new stock arrives. Every sale is then costed at that figure, which is what gives you a margin report and an inventory value you can trust without a month-end recalculation.

Average Cost, which is moving average cost, and First In First Out, chosen per variant. Average Cost is the default: every receipt blends into one cost per variant, which suits a business whose purchase prices drift between orders. Under FIFO a sale is costed from the stock it uses up. A variant’s method cannot be changed while any location holds stock of it, so decide with your accountant before the first receipt.

It updates when goods are received, which is the moment the cost actually changes. There is no overnight job and no month-end recalculation. A purchase at a new price moves the average as soon as the receipt is recorded, and every sale after that reads the new figure. To see the arithmetic on your own numbers, try the moving average cost calculator.

They are included, as long as you record them on the purchase order. Extra cost lines are distributed across the line items by value and raise each product’s landed unit cost before it reaches costing. They do not sit in a general expense account disconnected from the goods that caused them. See landed costs.

It syncs to Xero or QuickBooks Online. Each stock movement posts a journal to the accounts you map, for stock on hand, cost of goods sold and inventory adjustments, so nobody writes a month-end journal to make the books agree with the warehouse. Your accounting platform stays the book of record. Accounting integrations are paid add-ons on the Starter and Business plans and included on Scale; see pricing.

Yes. The Stock on Hand report shows the moving average cost and total cost of every variant against the live position, so you can read what your stock is worth right now. For a date in the past, Historic Inventory exports what a location held on that day, with its cost.

If your product count is small and steady, purchase prices are flat and freight is small, a monthly spreadsheet is a reasonable system. The comparison above shows where it stops keeping up: prices that vary between orders, freight and duty large enough to matter, and more sales than a monthly recalculation can follow.

No. Keep the products Qoblex manages untracked in Xero, or as non-inventory items in QuickBooks. If both systems track an item, each keeps its own average cost and books its own cost of goods sold, and the two will not reconcile. Untracked, the only cost posted is the one Qoblex calculated, landed costs included.

Because the product’s moving average cost was zero when it shipped, usually after stock came in without a cost: an adjustment or stocktake import at 0, or a purchase received at a price of 0. Correct the cost on the product and later shipments are costed properly. Sales that already shipped need repairing, as fixing sales with zero COGS explains.