If your inventory page shows many products that say "Not Set", that indicates these products did not have a lot cost associated with them.
Here's a quick video 🎥 on why this happens and how to fix it from our Customer Care Team
This is most common when looking at Inventory page (or Sales Reports for a time that was before Thrive Inventory by Shopventory was installed). Thrive Inventory does not know what your products cost before we were managing things, so no retroactive profit calculation is made automatically.
This can even happen if you create a new product, add quantities and save. Then, come back and add a cost.
No matter how it happened, you can backfill all costs that say "Not Set" at once with current default costs.
To do this, navigate to the Advanced tab in your Settings pages and launch the task 'Set default cost on all lots without cost':
This task will apply the default cost to any lots that are "Not set" on your inventory page.
As a reminder, the default cost is the cost listed inside the product edit page:
The default cost can also be seen as a small grey number on the inventory screen:
Using the snapshot here as an example, running the 'Set default cost on lots without cost' task would replace the blue 'Not Set' with the $15.00 default cost in grey.
NOTE: In order for this task to apply the lot cost, there has to be a quantity remaining in that lot. Any lot with a blank or zero quantity will not be affected. Also, a default cost must be set!
Inventory costs are calculated using Lot costs
(You can learn more about lot costs vs. default costs in our Inventory Costs article.)
Even if a product has a Default Cost entered, the Lot Cost must be set for accurate calculations in the Reports section of Thrive Inventory.
Click on the current cost in blue on the Products & Variants tab to set the lot costs (click on the below images to expand to full screen):
Things to Note:
Lot costs cannot be added if there are no quantities in stock. A product must have a quantity of at least 1 in order to update its lot cost.
If your Quantity tracking is "Disabled", go into the product to enable tracking first. Then a quantity can be added and lot costs will be tracked.
Updating the lot cost will also re-calculate the reports. For sales reports that predate the lot history, you'll have to backfill using the Default Cost.
Bundles do not have their own lot costs, and costs cannot be edited. The reason for this is a bundle's cost depends on the cost of its components. See more in the Inventory Costs article.
If seeing costs as "Not Set" on SALES REPORTS, you can backfill those lots using the current default cost.
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