What happens when a price changes for historical tracking of purchase orders?

When a price changes for historical tracking of purchase orders, using snapshot fields allows the preservation of previous prices while still updating to reflect any changes. Snapshot fields create a point-in-time record of the data as it was at the moment a transaction or record was created. This means that when there is a change in price, the new price can be updated, but the old price is retained in a separate field designated for historical purposes. This ensures that accurate historical data can be accessed later for reporting and analysis, providing a complete view of the transaction history.

The method of using snapshot fields is essential in practices involving auditing and reviewing past transactions, allowing businesses to track pricing trends over time without losing valuable historical information. This is particularly important for financial records and inventory management, where understanding past prices can influence future decision-making.

The other options do not adequately capture the functionality of Quickbase in handling historical data. Automatic updates to the current price would not preserve historical information, while erasing old prices defeats the purpose of tracking price changes. Logging prices manually is less efficient and prone to human error compared to automated tracking through snapshot fields.