If you are tracking stock levels for your dry goods (corks, capsules, labels, glass etc) in vintrace then you have ability to track the cost of those as well. By including those items on a Bill of Materials (BoM) for a finished wine stock item, when that item is bottled in vintrace, the dry good cost will transfer to the finished product. This, along with all the costs associated with the bulk wine, will give you a true Cost of Goods Sold (COGS) for the finished wine.
Dry-Goods used in bottling will impact the Packaging category for finished products you create.
A note about Average versus LIFO or FIFO costing on dry-good stock
By default, vintrace assumes the average weighted cost for all dry-goods stock items that you track in vintrace. For those that wish to use the LIFO or FIFO method, it will require you to have Lot/batch tracking enabled on your dry-goods inventory items. Each receival requires you to specify a lot/code and the cost of that lot is tracked independently of any other lots that you already have in stock. By selecting the appropriate lot when depleting these stock levels you can achieve LIFO or FIFO costing.
Setting the default price for dry goods
Your dry goods items are configured under Winery Setup > General stock items.
You can set the Order price field to reflect the current per unit agreed price from your supplier. As you receive new stock at a different price, this value will automatically be updated. By receiving stock without a purchase order, ie, directly via Inventory > Receive, this price, if set, will automatically be loaded into the Price field on the Receival. Where a Purchase Order price is set, it will override any default Order price set on the Stock Item itself.
Capturing costs at dry good receival
If you don’t have an Order price set and don’t use Purchase orders from vintrace you may still capture the cost at the point of stock receival. Simply enter the unit price into the Price column on the Receive screen.
Adding costs to your dry goods at a later date (after receiving an invoice)
If you haven’t raised a purchase order in vintrace or you didn’t know the cost of the dry goods at receival (ie, you got the invoice weeks later), you can still add the cost information easily. Use the Quick Search, Inventory > Search or the Search > Stock Overview to locate the dry goods in stock and select the appropriate distribution (select the desired lot if Lot/batch tracking is turned on).
Go to the History tab and then find the receival Action in the list.
Click View on the right; the stock receival will open.
Then click Correct; you may update the price and/or any quantities received and this will have a ripple forward effect to any costs that need to be updated; ie, if you were updating glass already used in a bottling but the invoice wasn’t received until well after the bottling was recorded, the costing change will still ripple forward to that finished bottled product.
Ensure that the Reason for correction is entered and click Save.
Adding additional costs at the point of bottling
If you wanted to add additional costs as part of the Packaging operation you can do that by clicking Add extra costs.
For more information on packaging in vintrace, click here.
Examples of extra costs include cellar labor, forklift costs, third-party bottling line charges. You must have already set these up as cost items in order use them to add extra costs.