If you accidentally receive items from a Purchase Order at the wrong cost and want to correct it for reporting purposes, you have two choices. You can either use item adjustments or a Purchasing Return.
To use Inventory Adjustments
You may prefer this method if you only have a few items to correct.
1. Go to Inventory >> Adjustments and adjust the items out (enter a negative quantity), entering the same incorrect cost at which you received the item.
2. Adjust the items back in (enter a positive quantity) at the desired cost.
To use a Purchasing Return
You may prefer this method if you have a lot of items to correct.
1. Go to Purchasing >> Returns and create a new Purchasing Return against your previous Purchase Order. Include the items you want to correct and make sure the cost matches their received cost.
2. Create a new Purchase Order for the items at the correct price.
3. Receive the merchandise at the desired cost.
What Won't Work ...
Changing an item's Default Cost will not correct this problem. This is because Default Cost is a placeholder value that does not relate to a specific transaction. On its own, Default Cost does not say what an item actually cost. Only the cost shown on Purchasing Receipts counts toward the average cost figures in Heartland Retail's Reporting and accounting functions.