Hi,

Can you try follow the below steps.

First you have to inherit the product template and add the 'digits' attribute to the field standard_price like the below.

class ProductTemplate(models.Model):
    _inherit = 'product.template'

    standard_price = fields.Float(
        'Cost', compute='_compute_standard_price',
        inverse='_set_standard_price', search='_search_standard_price',
        digits=dp.get_precision('Product Cost Price'), groups="base.group_user",
        help="""In Standard Price & AVCO: value of the product (automatically computed in AVCO).
            In FIFO: value of the next unit that will leave the stock (automatically computed).
            Used to value the product when the purchase cost is not known (e.g. inventory adjustment).
            Used to compute margins on sale orders.""")

Then you have to add an xml file to define the 'Product Cost Price' with the digits you want as below:

<record forcecreate="True" id="decimal_product_cost_price" model="decimal.precision">

    <field name="name">Product Cost Price</field>

    <field name="digits">4</field>

</record>

Regards

You can access the decimal precision menu from Settings > Technical > Database Structure > Decimal Accuracy, this will show all the decimal precision used in your system, in order to change product cost decimal precision by default decimal precision is used that goes with the name "Product Price" in this record changing the digits will change the precision. note:This will change decimal precision for product price in all documents as well as in cost and sales price also existing data WON'T be updated by this change.





If you think my answer satisfies your problem please validate and upvote, Thanks.

Hello Vivek,

I must put my answer to you here and not in the comments as there I have no means to attach images.

So let's start from scratch in my setup so that images explain the situation better.

I have the Decimal Precision in the Technical Menu set as Product Price => 4

Now let me create a new product that I by in Yards and manage my stock in cm. The product is sold to me in Rolls of 36yds. So I define it like that and you can already get a hint of where the problem resides: just look at the Cost field - 2 decimal places only. But just follow my reasoning.

Then buy the product as shown below (and indeed the Price does have the 4 decimal places I need), each Roll of 36 yds costs me €6.00:

Of Course I do mention in the inventory tab that I can only buy the product in Rolls of 3,291.840 cm (this is 36.000 yards I have 3 decimal places defined for the UoM's)

I now create a new PO for 2 rolls and the first error (that I mention in another post) appears here immediately. You can see that I defined the product as costing me €0.1667/yd in the product master form and the PO document rounds it 0,17/yd. It should have imported the field correctly. That is to say: YES indeed, the PO document does use 4 decimal places in the product purchase price but it ignores its precision and rounds it as if it were a 2 decimal places price.

But OK after adjusting the purchase price manually, which the document does let me do I save the PO, confirm it, receive it and bill it. Interestingly the Vendor Bill does get the supplier price right:

Now before I return to the product form I just check the Stock valuation of the product and it gives me a cost of zero. At first I was like, why? Then it dawned on me that each centimeter of this product costs me €0.001823053368329... (this is the €0.1667/91.44). That is to say that the valuation just rounded my stock valuation to zero in spite of me giving the system all the necessary inputs so that this would not happen?

Now the product form after all these operations does something even worse! It shows me the Cost Price as €0.17 per each centimeter and with only the 2 decimal places.

This would mean that my journals must be wrong somewhere. So I check by going into Inventory->Reporting->Valuation and indeed I now have 3,583.7 centimeters of product valued at €1,097.50 which, ironically is 0.1667*3583.7.

I must say this is not the intended behavior right?

This is a compound sequence of errors by odoo, which I am surprised it never surfaced with anyone before. Or am I doing something profoundly wrong?

I hope this explains my problem in depth and sufficiently. Can you check that your system does the same thing?

Thanks,

In Odoo 16, the decimal precision for the cost price of a product is determined by the decimal precision for the currency of the company that the product belongs to. To change the decimal precision for the cost price of a product, you can go to the Accounting module, select the company that the product belongs to, and then go to the Currency tab. In the Currency tab, you can edit the decimal precision for the currency by changing the value in the "Decimals" field.

To access the Accounting module in Odoo 16, go to the Settings menu and click on the "Accounting" option. In the Accounting module, you can find the list of companies by going to the "Companies" tab. Once you have selected the company that the product belongs to, you can go to the Currency tab and edit the decimal precision for the currency.

Please note that the decimal precision for the currency may affect other fields and calculations in the Accounting module, so you should carefully consider the implications of changing the decimal precision before making any changes.