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Adding baseline costs to your catalog items

Written by Aneesah Ahamed
Updated over a week ago

Purpose

The Fully Loaded Baseline Cost is a global cost value tracked on a Catalog Item, representing a baseline cost associated with a SKU when it's first introduced to Settle. This cost is not specific to any vendor but provides a standard baseline for financial reference and reporting across inventory.

By adding a baseline cost, you'll be ready to start tracking your COGS as soon as you have a catalog in Settle even prior to creating any POs.

This field allows:

  1. Onboarding Baseline Costs: When you first onboard to Settle or add a new SKU to your catalog, this allows you to capture your pre-existing baseline costs.

  2. Fallback Cost Reference: In cases where inventory is found or adjusted, this cost gives a reliable fallback reference for the item’s value in financial statements.

Please note:

  • If no baseline cost is set during catalog creation, the value defaults to $0.00.

  • Updating the cost will recalculate all instances of calculations where this was used.

  • When calculating costs for inventory events, if no cost value is found, Settle will fall back on this default.

  • This cost should be fully loaded meaning it should include unit costs, plus any additional expenses.

Adding baseline costs to a catalog item

  1. Navigate to the Catalog Page
    Access the catalog section from the main menu.

  2. Select a Catalog Item
    Find and click on the specific catalog item to which you want to add a baseline cost.

  3. Access the Purchase Tab
    On the catalog item’s detail page, navigate to the Purchase tab and scroll to the bottom.

  4. Add Baseline Costs
    Click the "+ Add Baseline Costs" button and input the relevant cost details.

You can also add catalog items in bulk by uploading a CSV file with catalog items and baseline costs. 👉 Read more about uploading catalog items and baseline costs using a CSV file

Using baseline costs for COGS

From here, you can download your Product Cost Report to keep track of your weighted average costs.

👉 Read more about Product Cost Report.

Do you want to have this information auto-sent to A2X? Contact your Customer Success representative to join our A2X beta group.

👉 📹 For a step-by-step walkthrough on creating and managing a universal catalog in Settle, check out our YouTube tutorial

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