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what is difference b/w Standard Cost, Current Cost and list price? RRS feed

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    With every product defined in MS CRM, there are 3 prices attached:

    1. List Price
    2. Current Cost
    3. Standard Cost

    What is major difference among these 3?
    Sohaib Ahmad [Business Management Solution Professional] http://www.solutiontalk.blogspot.com
    Saturday, August 29, 2009 11:26 AM

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    Here is an exerpt from the Help files.

    List Price
    This is a monetary amount that is based on the list or sales price. Quote, order, and invoice prices are generated from this information.

    Standard Cost
    This is a monetary amount that is based on the typical cost of the item. Quote, order, and invoice prices are generated from this information.

    Current Cost
    This is a monetary amount that is based on the current or temporary cost of the item. Quote, order, and invoice prices are generated from this information.

    Best Regards, Donna

    Best Regards, Donna
    Wednesday, September 9, 2009 7:20 PM
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    If you are using MS Great Plains, List price is sale price
    Current cost are cost to replace the items, this field will be pull to cost sale invoice, quote and order.
    Standard cost are production cost. I hope this is help. I had trouble figuring this out in the beging of GP implementation too.

    Wednesday, October 28, 2009 8:37 PM

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    Functionally, there is not a lot of difference as they can all be used for the basis of the price in the price list. List Price is generally considered to be the 'standard price' or RRP. As for the current cost and standard cost, I'm yet to see a good explanation of the difference but they appear to be little more than two slots for the costs of goods.

    What I generally tell clients is they can mean whatever you want them to mean.

    Leon Tribe
    Want to hear me talk about all things CRM? Check out my blog
    http://leontribe.blogspot.com/
    or hear me tweet @leontribe
    Want to hear me talk about all things CRM? Check out my blog http://leontribe.blogspot.com/ or hear me tweet @leontribe
    • Proposed as answer by Leon TribeMVP Saturday, August 29, 2009 8:22 PM
    Saturday, August 29, 2009 8:21 PM
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    Here is an exerpt from the Help files.

  • List Price
    This is a monetary amount that is based on the list or sales price. Quote, order, and invoice prices are generated from this information.
  • Standard Cost
    This is a monetary amount that is based on the typical cost of the item. Quote, order, and invoice prices are generated from this information.
  • Current Cost
    This is a monetary amount that is based on the current or temporary cost of the item. Quote, order, and invoice prices are generated from this information.
    • Best Regards, Donna
Wednesday, September 9, 2009 7:17 PM
  • Question
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    Here is an exerpt from the Help files.

    List Price
    This is a monetary amount that is based on the list or sales price. Quote, order, and invoice prices are generated from this information.

    Standard Cost
    This is a monetary amount that is based on the typical cost of the item. Quote, order, and invoice prices are generated from this information.

    Current Cost
    This is a monetary amount that is based on the current or temporary cost of the item. Quote, order, and invoice prices are generated from this information.

    Best Regards, Donna

    Best Regards, Donna
    Wednesday, September 9, 2009 7:20 PM
  • Question
    Sign in to vote
    0
    Sign in to vote

    If you are using MS Great Plains, List price is sale price
    Current cost are cost to replace the items, this field will be pull to cost sale invoice, quote and order.
    Standard cost are production cost. I hope this is help. I had trouble figuring this out in the beging of GP implementation too.

    Wednesday, October 28, 2009 8:37 PM