How can I enter cost for a new inventory item that we intend to sell even though there is no quantity?

NetSuite assigns an estimated cost that shows in the GL Impact of any inventory-affecting transactions even if there is no quantity for the item – that is, as long as there is a historical cost where the system can pull up cost.

 

It is enough to enter 1 quantity for the item you want to assign historical cost to. Enter the cost you want to assign in the rate/new value/amount field to one of the following transactions:

 

1.      Inventory Adjustment*

2.      Inventory Worksheet*

3.      Purchase Order – Item Receipt (1 quantity) and Sales Order – Item Fulfillment (1 quantity)

 

*If you choose to create #1 or #2, then you need to delete the said transaction afterwards.

 

After this, the item will have cost in the standalone sales transaction or item fulfillment you will enter, even though its quantity on hand is zero.