I/C Update Item Pricing Screen

You can increase or decrease the base price or the markup cost by a set amount. You can also enter an amount for calculating the sale price from the base price.

If you have a multicurrency system, you can specify an exchange rate to change the price or markup cost. Once you select "exchange rate," you must select the currency code on which you want to base the rate.

If you have a multicurrency system, you must select the currency you are updating on the price list.

For example, you might update Canadian currency prices on your wholesale price list using exchange rates, and base the new prices on the US currency prices.

If you have a single-currency Inventory Control system, this field will not appear.

You can override the exchange rate supplied by the rate type.

If you choose to adjust the base price or the markup cost by percentage or amount, you must specify whether you are increasing or decreasing the price or cost, and then specify the amount or percent of the adjustment.

The margin is the difference between the markup cost and the price (either sale price or base price) expressed as a percentage of the price.

The markup factor, on the other hand, is a multiplier of the markup cost. In other words, a margin of 33% is the same as a markup of 1.5.

The markup factor is a multiplier applied to the markup cost to calculate the sale price or the base price.

Example: To set the base price to 1.5 times the markup cost, enter a markup factor of 1.5.

For base price and markup cost, enter the percentage of change over the previous figure as a whole number.

Example: If the new base price is 1.5 times the previous price, enter the percentage increase as 50.00000.

For the sale price, enter the percentage to decrease the base price.

Specify how you want Order Entry to respond to price overrides. Order Entry can:

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

Specify the price list or alphabetical range of price lists that you want to update (for example, from EUAU to EUUK).

If you are changing the sale price, you can also enter starting and ending dates for the sale.

If you are selecting item numbers by item segment for updating, you must choose the item segment you want, then specify a range of the segment.

Specify how you want to select item numbers for updating. You can specify a range of item numbers, categories, item segments, vendor numbers, or optional field values. You can choose from any character optional fields that are active.

You can use the Update Item Pricing to update any of the following information:

• Base Price. Select this option to add, increase or decrease item base prices.
• Sale Price. Select this option to add, increase, or decrease sale prices for a range of items. You can also specify the beginning and ending dates for the period during which the sale price applies.
• Markup Cost. Select this option to increase or decrease the cost on which markups are currently based.
• Price Check Type. Select this option to change how Order Entry responds to price overrides (for example, displaying an error message or requiring price approval).
• Price List Dates. Select this option to update the period for which the selected price lists are valid.

Select the method for updating the base price, sale price, or markup cost.

Note: The exchange rate option appears only if you have a multicurrency Inventory Control system.