A client asked: How are the List Price, Standard Cost and Current Cost related to the calculation of quotes, orders and invoices?
If you select Settings > Product Catalog > Products and select the first item, you will see the List Price, Standard Cost and Current Cost. These are entered when a Product is created. To illustrate how the fields are used during the creation of a quote, try the following:
* Select an Account (e.g. Adventure Works)
* Double click to open the Account
* Click New to create a Quote > Enter the required information > Save
* Select Existing Products > Click New Quote Product
* Enter required fields > Return to Information > Click Recalculate
* Save and Close > Return to Settings > Product Catalog > Products
* Double click the Product > Review List Price, Standard Cost and Current Cost
The List Price and the Quantity in the Quote make up the selling price on a quote. The Standard Cost and Current Cost are there for data entry purposes only and can be used in reports or views.