Adding Price List Codes

Price lists store pricing information for all of your inventory items. You can have as many price lists as you need to handle different locations, different countries, and different currencies. More...

Note: Each price list code supports one set of prices (including discount, tax, and price check information) in each of the currencies that you use in your business. You do not need to have separate price list codes for each currency.

To add a new price list code:

1. Open Inventory Control > I/C Setup >  Price List Codes.

2. Click Create New.
3. In the I/C Price List Codes screen for Price List Code, type a code to identify the price list using up to six characters.
4. For Price List Description, enter a description for the price list (for example, "US mail order prices").
5. On the Discounts tab:
   1. For Price By, select whether the price of the item is based on weight or on quantity. More...

      If you select Weight, you can set volume discount amounts or percentages based on item weight. The weights are calculated in Order Entry by multiplying the unit weight of an item times the quantity ordered, and converting the weight to default units.

   2. For Price Decimals, select the number of decimal places (0 - 6) to use for displaying and printing prices and costs.

   3. For Selling Price Based on, select the default method for calculating the selling price of items assigned to this price list. More...

      • Discount. Discounts the base price for the item. (You assign base prices when you assign items to the price list.)
      • Markup on Markup Cost. Marks up the "markup cost" entered for the item (You assign markup costs when you assign items to the price list.)
      • Markup on Standard Cost. Marks up the standard cost of the item. (You assign standard costs when you add location details for items.)
      • Markup on Most Recent Cost. Marks up the most recent cost of the item.
      • Markup on Average Cost. Marks up the average cost of the item.
      • Markup on Last Cost. Marks up the last cost of the item.
      • Markup on Alternate Amount. Marks up the alternative amount specified for the item. (The name of the alternative amount is specified on the Processing tab of the I/C Options screen.)

      Note: If pricing by weight, you can only choose between Discount and Markup on Markup Cost.

   4. For Pricing Determined by, select the method to determine price discounts for items. More...

      • Customer Type. Pricing depends on the customer's type (A, B, C, D, or E). Customer types are assigned to customers in Accounts Receivable
      • Volume Discounts. Pricing depends on the quantity of an item the customer purchases.
   5. For either Discount on Price by or Markup on Cost by, select whether to use a percentage or an amount to discount the price or mark up the cost.
   6. In the table on the lower part of the tab:
      • In the first column if you selected Volume Discounts for Pricing Determined by, enter a quantity (in the stocking units for the item) where the discount or markup changes. (If you selected Customer Type for Pricing Determined by, this column already displays the customer types.)
      • In the second column, specify the discount or markup as a percentage or amount.
6. On the Price Check tab, specify how Inventory Control checks price overrides for Order Entry orders that use this price list.

   1. For Price Check Type, choose how you want Order Entry to respond to price overrides. More...

      • None. Order Entry does nothing about overrides.
      • Warning. Displays a warning message and lets the user continue.
      • Error. Displays an error message and rejects the price override.
      • Approval. Requires a supervisor’s approval for price overrides.
   2. For Check, select whether to check the unit price or the sales margin.
   3. If you selected Unit Price for Check, choose the base (Check Base) to use to determine whether the price falls within an acceptable range: the cost plus a percentage, the cost plus a fixed amount, or a fixed range.
   4. For Cost Base, choose the type of cost to use for calculating the acceptable range.

   Note: This field is not available if you choose Fixed Amount for Check Base.

   5. In the table, enter the range of prices that can be approved by each user. You can create several price approval levels for sales clerks and supervisors. More...

      1. Click Add Line to add a line to the table.
      2. Enter (or click and select) the user for whom you want to specify a price approval range.
      3. Specify the price approval range.
      4. Repeat steps i-iii for each user who you want to be able to approve price changes.
7. On the Taxes tab, add the tax authorities that tax sales of the items associated with this price list. More...
   1. Click Add Line to add a line to the table.
   2. In the Tax Authority column, enter (or click and select) the tax authority (such as a state or province).
   3. In the Customer Tax Class column, enter (or click and select) the customer tax class for the tax authority.
   4. Repeat steps a-c for each tax authority.
8. Click Save.
9. Repeat steps 2-8 for each price list code that you want to add.