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

Question
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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.comSaturday, August 29, 2009 11:26 AM
Answers
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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- Proposed as answer by Donna EdwardsMVP Wednesday, September 9, 2009 7:21 PM
- Marked as answer by Sohaib [CRM Professional] Thursday, October 29, 2009 4:29 AM
Wednesday, September 9, 2009 7:20 PM -
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.- Marked as answer by Sohaib [CRM Professional] Thursday, October 29, 2009 4:29 AM
Wednesday, October 28, 2009 8:37 PM
All replies
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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
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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 -
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, DonnaWednesday, September 9, 2009 7:17 PM - List Price
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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- Proposed as answer by Donna EdwardsMVP Wednesday, September 9, 2009 7:21 PM
- Marked as answer by Sohaib [CRM Professional] Thursday, October 29, 2009 4:29 AM
Wednesday, September 9, 2009 7:20 PM -
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.- Marked as answer by Sohaib [CRM Professional] Thursday, October 29, 2009 4:29 AM
Wednesday, October 28, 2009 8:37 PM