After we activated the Item price in R3, noticed that the cost price and purchase price are input incorrectly. ALso notiices that even though the date was set 1/1/2014, the activation date refers to today’s date (3/3/2015!). How can we rectify. we need to set the active price (back date to 2014). we didn’t input any transactions as yet. Wondering if anyone could suggest. i can create a new cost version (but because we need to input 2014 transactions).
Also bit confused with cost vs purchase price. as we buy/sell items, could cost price equal purchase price (or is cost price to include purchase + cost to maintain in inventory etc.,)