Adding Items to Price Lists

You can add items to as many price lists as you want. Each price list can include prices—including discount and sale amounts—in each of the currencies that you use in your business. More...

Typically, when adding item prices to several price lists, you:

  • Assign items to their first price list.
  • Print the Price Lists report to check that the items appear on the price lists to which you assigned them.
  • Use the Copy Item Pricing screen to copy items to other price lists, converting prices according to currency exchange rates or adjusting them for different purposes.

Each price list code can support 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 add price list codes for each currency.

  • Add the price list codes you want to use.
  • Gather the existing pricing information for each item in your inventory.

To assign items to price lists:

  1. Open Inventory Control > I/C Items and Price Lists > Item Pricing.

  2. Use the Finder or the navigation buttons for the Item Number field to display the item you need, and then do one of the following:

    • To add the item to a price list, click New.
    • To update an item on a price list, select (highlight) the item on the table, and then click Open.
  3. If you use multicurrency accounting, enter a currency code for the prices that you are adding, or use the Finder beside the Currency Code field to select the currency code you need.
  4. In the Price List Code field, enter or select the code for the price list you want.

  5. On the Prices tab:

    1. Change the description for the item price, if necessary. (The item description appears as the default description.)

    2. In the Price By field, specify whether the price is based on weight or on quantity. More...

      Specify whether the price of this item is based on weight or on quantity.

      If you specify weight, Inventory Control lets you set volume discount amounts or percentages that are determined by 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.

    3. In the Price Decimals field, specify the decimal places to use when displaying and printing this item price.

    4. In the Base Price Type field, specify how to calculate the base price. You can enter a base price for a single unit of measure or for multiple units of measure, or you can calculate the base price from a cost. More...

      • Enter a base price for a single unit of measure and specify the unit.

        (You can select this option, and have Inventory Control calculate the base price using the item cost. After choosing this option, select the Zoom Zoom button button to perform the calculation.)

      • Enter base prices for multiple units of measure, and set a default unit of measure for I/C Shipments.

        Note: The default price is in effect only if you do not specify a price for the stocking unit. If you specify a price for the stocking unit, I/C Shipments will automatically use it as the default.

        You can still set additional prices for volume or customer type discounts on base prices for multiple units of measure.

      • Calculate the base price as the cost plus a percentage or amount.

        If you are calculating volume discounts by weight, you cannot calculate the base price from the cost (because the cost is based on quantity).

    5. Enter the base price using the Base Price field. More...

      You use this field differently depending on your choice for the Base Price Type. If you selected:

      • Base Price for Single Unit of Measure

        Enter the normal or suggested selling price for the item, and then, in the Pricing Unit field, enter the unit on which the base price is expressed.

        To calculate the base price using a cost as a starting point:

        1. Click the Zoom Zoom button button beside the Base Price field to display the Base Price for Multiple Units of Measure screen
        2. Fill in the fields on the screen that appears.
        3. You must fill in a location for the cost.
        4. Click Proceed to return the calculated base price to the Base Price field, where you can edit it.
      • Base Price for Multiple Units of Measure
        1. Click the Zoom Zoom button button beside the Base Price field to display the Base Price for Multiple Units of Measure screen.
        2. In the table, enter a set of base prices:
          • Unit of Measure. Enter the item units or use the Finder to select the item units in which the base price is expressed.
          • Base Price. Enter the normal or suggested selling price for this item unit of measure, including in the price any taxes that you assign to the item on the Taxes tab.
          • Default. The program forces you to select a default unit of measure and price for entering I/C shipments.
          • The first line you enter is automatically set as the default price, and you can only set it to No by choosing a different line as the default.
          • Double-click the Default column for the line which you want to be the default.
          • The default price and UOM is in effect only if you do not specify a price for the stocking unit. If you specify a price for the stocking unit, I/C Shipments will automatically use it as the default.

        Note: In Order Entry, when you specify the unit of measure for an order detail, Order Entry checks to see if you defined a base price for the specified UOM. If you did not define a base price for the specified UOM, Order Entry uses the default pricing UOM.

        The default pricing UOM is in effect only if the order UOM does not match a defined pricing UOM.

        If you specify a price for the stocking unit, I/C Shipments automatically uses it as the default.

      • Base Price Calculated Using a Cost
        1. Click the Zoom Zoom button button beside the Base Price field to display the Default Base Price screen.
        2. In the Calculate Base Price Using field, specify whether to add a percentage or amount to the cost.
        3. In the Cost Base field, select the cost to use as the base.
        4. In the Percentage / Amount field, enter the percentage or amount that you are adding to a cost.
        5. If you have a multicurrency system, in the Exchange Rate field, specify the exchange rate or the rate type and rate date.

    6. In the Sales Price Type field, specify how to calculate the selling price for the item. More...

      • Enter a sale price for a single unit of measure and specify the unit.

        (You can select this option and have Inventory Control provide a starting point for the sale price based on the item cost. After selecting this option, click the Zoom Zoom button button to perform the calculation.)

      • Enter sale prices for multiple units of measure and set a default unit of measure for Order Entry.

        Note: The default price is in effect only if you do not specify a price for the stocking unit. If you specify a price for the stocking unit, I/C Shipments will automatically use it as the default.

        You can still set additional prices for volume or customer type discounts on sale prices for multiple units of measure.

      • Calculate the sale price as the cost plus a percentage or amount.

        If you are calculating volume discounts by weight, you cannot calculate the sale price from the cost (because the cost is based on quantity).

    7. In the Sale Price field, specify whether to enter a sale price for a single unit of measure or for multiple units of measure, or calculate the sale price from a cost. More...

      You use this field differently depending on your choice for Sale Price Type. If you selected:

      • Sale price for a single unit of measure

        Enter a sale price for the item if you are including sale prices on price lists.

        Note: You can also calculate the sale price using a cost as a starting point, and edit the calculated amount in this field. To do so, click the Zoom Zoom button button and fill in the fields on the screen that appears. Note that you must fill in a location for the cost, and you must click the Proceed button when finished to return the calculated sale price to the Sale Price field, where you can edit it.

      • Sale prices for multiple units of measure

        If you are entering sale prices for multiple units of measure, click the Zoom Zoom button button to display the screen for entering multiple units.

        You must also specify the default UOM and price if specifying several sale prices.

        Note: In Order Entry, when you specify the unit of measure for an order detail, Order Entry checks to see if you defined a price for the specified UOM. If you did not define a price for the specified UOM, Order Entry will use the default pricing UOM.

        The default pricing UOM is in effect only if the order UOM does not match a defined pricing UOM.

        If you specify a price for the stocking unit, I/C Shipments will automatically use it as the default.

      • Sale price calculated using a cost

        If you are calculating the sale price from a cost, click the Zoom Zoom button button, and then:

        1. Specify whether to base the price on a single unit of measure.
        2. Click the Zoom button beside the Sale Price field to display the Default Sale Price screen.
        3. Specify:
          • Whether to add a percentage or an amount to the cost.
          • The type of cost.
          • The percentage or amount to add.
          • The exchange rate if a multicurrency database.
    8. If you entered a sale price, in the Sale Starts and Sale Ends fields, enter the range of dates over which the sale price applies.
    9. If you are setting up the price list to calculate selling prices by marking up your cost, enter a markup cost, and then specify:
      • In the Markup Unit field, enter or select the item units in which the markup cost is expressed.
      • In the Markup Factor field, enter the factor (number) by which you want to multiply the markup cost to calculate the desired selling price for the item.

        Note: This is a reference field (used on reports), and is not used to calculate the selling price. You enter the actual markup on the Discounts tab.

  6. On the Discounts tab:

    1. In the Selling Price Based on field, specify the default method for calculating discount prices on this price list. More ...

      Use this option to specify how the discount prices of items assigned to this price list will be calculated by default.

      • Discount. Inventory Control calculates the selling price by discounting your base price for the item.
      • Markup on Markup Cost. Inventory Control calculates the selling price by marking up your "markup cost" for the item (entered on the previous tab).
      • Markup on Standard Cost/Most Recent Cost/Average Cost/Last Cost/Alternate Amount 1 or 2. Inventory Control calculates the selling price by marking up the cost you keep for your items (including the value you enter as "Alternate Amount 1" or "Alternate Amount 2" on the I/C Options screen).

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

    2. From the Discount on Price by/Markup on Cost by list, select the method to use to discount or mark up customer discounts. More...

      • Percentage. The program either discounts the base price, or marks up the cost you select using the percentages you specify in the fields in the lower part of the screen.
      • Amount. The program either discounts the base price, or marks up the cost you select using the amounts you specify in the fields on the lower part of the screen.

    3. From the Pricing Determined by list, select the method to use to determine price discounts for items. More...

      • Customer Type. Inventory Control determines prices according to the customer’s type (A, B, C, D, or E).

        Note: "A, B, C, D, E" denote the types of customers to which the discounts or markups you enter apply. Customer types are assigned to customers in Accounts Receivable and looked up when you add orders in Sage Order Entry.

      • Volume Discounts. Inventory Control determines prices according to the quantity of an item the customer purchases.

    The selections you make for the Selling Price Based On, Discount On Price By/Markup On Cost By, and Pricing Determined By fields determine the remaining fields that appear on the Discounts tab.

  7. If you use Sage 300 Premium, click the Price Check tab, and then specify how to handle price check overrides in Order Entry. More...

    Price Check Type. Specify the type of warning or message Order Entry displays for price overrides.

    • Do nothing (if you choose None).
    • Display a warning message and let you continue.
    • Display an error message and reject the price override.
    • Force you to get a supervisor’s approval on price overrides.

    Check. Specify whether to check the unit price or the sales margin.

    Check Base. If you are checking the unit price, specify a percentage or an amount cost range, or a fixed range to check.

    Cost/Margin Base. Specify the cost on which you are calculating the acceptable range of unit price or sales margin. (This field does not appear if you selected a fixed unit price.)

    User ID / Greater Than… / Less Than…. Enter the range of prices available to each user ID. If you want, you can create several price approval levels for sales clerks and supervisors.

    The Default price check range applies to all users who are not specifically listed in the table. If you delete the price check for the Default user, the program only performs checks for the listed user IDs.

  8. On the Taxes tab, fill in the tax information as follows:

    Authority. Enter a tax authority (such as state or province) or use the Finder to select the tax authority that taxes sales of the item.

    Cust. (Customer) Tax Class. Enter the customer tax class or use the Finder to select a customer tax class for the tax authority.

    For more information about tax authorities and tax classes, see the help for Tax and Bank Services (in the Sage 300 System Manager help).

  9. Click Add.

Repeat steps 2 through 9 for each price list code that you want to add.

  • After assigning items to their first price list, you can use this screen to assign them to other price lists, depending on your needs.

    You can also use the I/C Copy Item Pricing Screen to assign items on one price list to another price list.

  • Print the price lists that include the information you changed, using the Price Lists icon in Price/Sales Analysis Reports folder, to check the new record information.
  • Compare the price lists you printed before making changes to those printed afterwards to verify that you made all changes correctly.