About Price Lists

You use price lists to store pricing information for your inventory items. When you associate an item with a price list, you specify the base and sale prices for the item.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.

Inventory Control uses price lists for information purposes. You can see item prices when you ship goods from Inventory Control. You can print item prices on Inventory Control reports, item labels, and bin/shelf labels.

Order Entry uses price lists to calculate prices on orders and invoices.

Overview of Price List Setup

Setting up price lists for your items in Inventory Control involves the following general steps, which are described later in this topic:

1. Add a new price list code using the I/C Price List Codes screen. For each price list code, you select default options for customer discounts, price checks, and taxes for the items associated with that price list.
2. Associate items with the new price list using the I/C Item Pricing screen.

Note: You must add inventory items and price list codes before you can associate items with the price lists. You do not need to create price list codes before you add inventory items.

Adding Price List Codes

You use the I/C Price List Codes screen to add the price list codes you need.

You assign a unique code to identify the price list. (Price list codes can contain up to six upper-case letters and numbers.)

For each price list, you also specify default settings for items that you add to price lists, including:

• Options for calculating customer discounts for the items you add to price lists. More...

  Discount options include:

  • How to calculate customer discounts, such as by discounting the selling price, by marking up the markup cost, or by marking up the standard cost.
  • Whether to calculate customer discounts or mark ups by a percentage or a specific amount, as well as the percentages or specific amounts to discount or mark up.
  • Whether to base customer discounts on customer type, or on the number of items purchased (volume discount).

  You can override these options when you add item prices to the price lists.

• The rounding method (up, down, or none) to use when calculating discount or markup prices. If you discount or mark up prices by a percentage, you can also specify a number to which you want all prices rounded, such as the nearest five cents.
• Tax authorities (such as a state or province) and customer tax classes that apply to items on the price list.

Note: When you set up price list codes, they contain no items or prices.

Associating Items with Price Lists

To have items appear on a price list, associate the items with the price list code using the I/C Item Pricing screen.

Maintaining Price Lists

Inventory Control includes the following screens for maintaining price lists for inventory items:

• I/C Price List Codes screen. Add new codes to identify price lists, as well as change default discount (or markup) and tax information for each price list.
• I/C Item Pricing screen. Associate items with price lists, edit pricing information for items, and remove items from price lists.
• I/C Update Item Pricing screen. Change prices or costs for a range of items on one or more price lists.