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How to set a purchase price for a product in WooCommerce
How to set a purchase price for a product in WooCommerce

How a WooCommerce user can set the purchase price of a product in WooCommerce.

Dimitris Athanasiadis avatar
Written by Dimitris Athanasiadis
Updated over a week ago

In inventory management, and in the real world, it is crucial to know the price a product is paid for to be supplied by the product suppliers. So with this in mind, the newest versions of our WooCommerce extension allow the user to set a purchase price for each product in WooCommerce which is synchronized with the respective field in Megaventory (Default Purchase Price).

How to set the purchase price (cost of the product to be supplied by your supplier) step by step

  1. Go to the WooCommerce administration panel and find or create a product

  2. In the pricing area of the product (where you can define also the regular and sales prices) you will find an additional field with the label "Purchase Price".

  3. Fill in this field using the regular price formatting rules.

  4. Fill in any additional information that is required (such as SKU, Description, etc).

  5. Save the product.

Note: If the product has already been created in Megaventory, the purchase price will not be synchronized to Megaventory. This is done because our extension prioritizes the purchase price that exists in Megaventory, thus you can only change it in Megaventory. However, in cases you have no prior purchase pricing information in Megaventory about this product, this feature helps to set the initial purchase price correctly.

In general, for product creation, it is best to have a purchase price defined in order for Megaventory to calculate a more accurate value of your inventory.

If you have any further questions, feel free to ask us via the live chat support.

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