Entering purchase price after delivery

I’ve been testing ERPNext for the past few hours to see if it’s a good solution for my small business but I have a question.

How can I easily enter the purchase price of products after I have already received them and created a purchase receipt?

The procedure at my company is:

*Enter material requests
*Submit purchase orders without item prices
*Products get delivered: submit purchase receipts.

After delivery it takes 1-2 weeks for the invoice to arrive at which point I know the price of the items and would like to enter it into ERPNext so the value of my stock is updated.

As per the current design the stock value is updated at the time of receipt of the material that is submission of purchase receipt.
You can create a Purchase order without item price,Create a purchase receipt and keep it in draft status and submit it once you have the invoice.
Note:- Under buying settings Uncheck the check box for “Maintain same rate throughout purchase cycle.”

Hope this helps.

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If you are only concerned about the landed cost (shipping charges, import duty etc), which make you delay to enter the rate in the Purchase Receipt, then you can add those cost after making Purchase Receipt. To add those cost after submitting Purchase Receipt, use Landed Cost Voucher document.