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:
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.
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
Navigate to the Catalog Page
Access the catalog section from the main menu.Select a Catalog Item
Find and click on the specific catalog item to which you want to add a baseline cost.Access the Purchase Tab
On the catalog item’s detail page, navigate to the Purchase tab and scroll to the bottom.Add Baseline Costs
Click the "+ Add Baseline Costs" button and input the relevant cost details.
Using baseline costs for COGS
From here, you can download your Product Cost Report to keep track of your weighted average costs. Download your End of Month Report to see COGS and more.
👉 Read more about Product Cost Report.
👉 Read more about End of Month Report.
Do you want to have this information auto-sent to A2X? Contact your Customer Success representative to join our A2X beta group.