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Currency

Your inventory has a primary Price field for tracking the selling price of an item. However, in the real world, there are often other important monetary values you need to track. The Currency custom field is the perfect tool for this.

This field is specifically designed to store any monetary value. It automatically formats the number with your chosen currency symbol and the correct decimal places, ensuring your financial data is always clear, consistent, and ready for calculations.

When to Use a Currency Field (Real-World Examples)​

Use this field whenever you need to track a monetary value other than the main selling price.

For Business & E-commerce:

  • Cost Price / COGS: This is one of the most powerful uses. Track how much you paid for an item to accurately calculate your profit margins.
  • MSRP: (Manufacturer's Suggested Retail Price) Store the official retail price to compare with your own pricing.
  • Shipping Cost: Log the cost to ship an item from your supplier.
  • Sale Price: If an item is on a temporary promotion, you can track the sale price here without changing the main price field.

For Equipment & Asset Tracking:

  • Purchase Price: Keep a record of the original cost of a piece of equipment for accounting and depreciation.
  • Insured Value: Track the declared value of an asset for your insurance policy.
  • Current Market Value: Log the estimated resale value of a piece of equipment.

For Personal Collections:

  • Purchase Price: Remember what you originally paid for a collectible.
  • Appraised Value: Store the official value from a professional appraisal.
  • Last Sold Price: Keep a note of what a similar item recently sold for at auction for market tracking.

Key Features and Usage​

The Price/Currency field is essential for financial insights:

  • Profit Calculation: This field is a core component of the Formula Engine. You can create an equation to calculate your profit on every item automatically: Price - Cost Price = Profit.
  • Advanced Filtering: Easily find items based on financial data. For example, you can filter your list to show "all items with a Profit less than $10" or "all assets with an Insured Value greater than $1,000."
  • Accurate Financial Reporting: When you export your data, these custom fields provide a complete financial picture of your inventory beyond just the sale price.

How to Create or Edit a Currency Field​

Follow instructions in the Custom Fields guide.

Properties of Currency Fields​

  • Currency
    • e.g., USD
    • Optional
    • This is the currency symbol to display next to the number. If not set, the field will display wil be in USD.