7.2. Price List Setup

Price Lists

The first step of the price list setup is creating a base price list which is usually the vendor price list. The vendor price list is mainly determined using the product's purchasing information (from the Purchasing tab in the Product window). Usually you only need to define one vendor price list and then based on it, multiple customer price lists. By structuring price lists like this, whenever the vendors update their prices, all you have to do is update the vendor price list and then run a process to generate the customer price lists. Only the products that appear on price lists can be sold to customers.

If you procure a product from more than one vendor, multiple price lists should be created for each vendor (e.g. Vendor Price List A, Vendor Price List B,Vendor Price List C). In this case, when entering a vendor order for a particular supplier, the list of the vendor's available products will be restricted to that vendor's products.

To create or modify a price list in SocrateCloud, open the Price List window, located in the Product Setup -> Price List Setup menu. The following fields are available:

• Name, Description - are used to identify the price list within the system;

• Active - indicates whether the price list is active in the system;

• Default - indicates this price list will be used by default by SocrateCloud processes and reports;

• Currency - the price currency used;

• Price Precision - determines the number of decimals used when computing the price. Setting the price precision value to be lower than the standard precision value is useful when selling low-price products (e.g. 0.5 cents) in 100 or 1000 batches. Regardless of the value selected, the line of the invoice or order will always be rounded up to the value of the currency's Standard Precision;

• Sales Price list - indicates whether the price list is used for sales (checked) or purchasing (cleared);

• Price includes Tax - check to indicate that the prices in this price list include taxes (usually VAT). This is known as the gross price. When processing an order or an invoice, SocrateCloud will calculate how much of the total price is represented by the taxes, and will do this by looking at the invoice/order lines;

• Enforce price limit - check to prevent users from entering prices on documents lower than the product limit price.

  • Note: if a user has a role that allows him to overwrite the limit price, then he may enter an order/invoice under the limit price;

The Reference section contains information about the source price list (when dynamic price lists are used)

• Master Price List - select a price list that will determine the prices in this price list;

• Percentage - select a percentage which will be applied to the master price list in order to obtain the prices on this price list;

• Update Existing Record - if checked, this price list will be updated automatically using the parameters defined in this section;

In the Price Simulator section, a price name is assigned to the price list, that can be used to update product prices on multiple price lists In order to be used the Price Name field must be completed with an appropriate value: "Price_1" corresponds to the Price 1 field in the Product window, "Price_2" corresponds to the Price 2 field, etc. Details in Price Simulator.

Price List Versions

All the price lists in SocrateCloud have versions. These facilitate the maintaining of parallel lists for different calendar dates. Based on the document date, when determining the product price, the most recent version will be used.

A version can be entered manually, or it can be generate using a discount schema from a base version. When generating a price list version, should there be no base version selected, the product purchasing price information will be used (from the Purchasing tab in the Product window). A price list version can only contain a particular product once.

The Version tab is used to manage the price lists versions which contain the product prices. The following fields are available:

• Price List - the corresponding price list for this version;

• Name, Description - are used to identify the price list version within the system;

• Active - indicates whether the version is active in the system;

• Discount Schema - select a price schema used to calculate the prices for this version;

• Base Price List - select a price list that will be used used to generate prices for this version;

• Valid from - select the version date. Based on a document's date, the version with the most recent date will be used.

The Create Price List button is used to generate product prices for the price list version. The prices will be generated by applying the selected discount schema to the "Base price list" (if selected) or to a previous price list version within the same price list. You also have the option to delete any existing price records by selecting the corresponding checkbox.

• When generating price lists in a different currency other than the base one, there must be an exchange rate defined between the two currencies, otherwise the prices generated on the new list will be equal to -9999999.

• These prices will be calculated depending on the price schema's sequence order. The lines with a greater sequence value will overwrite the existing prices. The sequences should be introduced from general to specific.

Secondary windows:

• In the Product Price tab you can manage product prices. If you modify or enter new prices in this window, these will be overwritten the next time you generate a Price List. To prevent this problem, it would be best to adjust the price schema.

• In the Product Price Ext tab you can enter product price information, when prices depend on quantity (Extended Prices component is required).

• Details in Price Categories.

Promotional Price Lists

Starting with the 13.02 version of SocrateCloud, a new Price List was added to the Accounting Processor: Price List - Promotions.

Use the Price List - Promotions window found in Product Setup -> Price List Setup -> Price List - Promotions. Enter the Name and the Currency. A general Price List for Promotions and other particular ones for each Business Partner or Business Partner Group will be defined.

A promotions list will entail one or more versions indicating the promotion's term of validity. A version can be associated to a marketing campaign, in which case, if applied to a document, the associated campaign will automatically be printed on the respective documents. Inside a version you can include products and their applied promotional price.

Applying Promotions on Documents:

• The promotional price will be used on the documents if there is any valid promotion going on for a customer, customer category, or one that is generic (without a customer or customer category selected).

• In the Info-Product window, the promotion line will be highlighted with a distinct colour and the window will be displayed with the Promotion version selected by default.

• In the Sales Order's details, the Promotion field will be added and will be automatically completed and linked to the corresponding promotion version.