Pricing - Cost and Selling Price

Cost Prices

The Cost Price is derived from a Costing or it can be manually updated. When it is automatically updated, an adjustment can be added to cover handling and landed costs.

The Sell Price is the standard list price which can be derived from  Costing, the Cost Price or it can be manually updated.

When it is automatically updated, a MU% and a Rounding factor can be used.

Costs and Prices are assigned to a Unit and to a Currency. Duplicates, which have the same Unit and Currency are not allowed.

When Costs or Prices are set to be manually updated, the Cost Adj % and Sell Adj % fields are automatically updated.

Fields

• Active - The status of the Cost/Sell Price

• Est - Sets whether or not the price can be used in Estimates

• Unit - The Unit to which the price is converted

• CUR - The Currency in which the prices are displayed

Cost Price 

• Cost Price  - Sets how the Cost Price will be updated

• Cost Adj %

• Unit Cost 

• / - The Quantity that the Unit Cost applies to - default = 1

• Fixed Cost  - Hidden by default

Sell Price 

• Sell Price - Sets how the Sell Price will be updated

• VAT Type 

• VAT - Sets whether Sell Price is Exc. or Inc. VAT

• MU % - Markup % on the Cost Price - applicable when the Sell Price is auto-updated.

• Round - Rounds the Selling Price up to the value specified - applicable when the Sell Price is auto-updated.

• Unit Sell 

• / - The Quantity that the Unit Sell applies to - default = 1

• Fixed Sell

• GM % - Gross Margin % (Profit / Sell x 100)

Selling Prices

This view provides access to all the Selling Prices in the Items module which can be filtered by: Category, Price List, Currency and  Status. (Item Status).

The Currency filters are mandatory -  you can only view prices in one currency at a time

When a Price List is not selected, the Updated field indicates whether the Cost and Selling Prices are Manually (M) or Automatically (A) updated - eg. A/M = Cost Price is automatically updated and Selling Price is manually updated.

Conditional formatting is used to highlight the low and high Profit, MU% and GP% values.

Fields 

The Blue fields are editable

• Description,  Reference, Code, Sub-category, Category

• Customer - The Customer linked to the Item

• Sup Price - The highest active Supplier Price (based on the Unit Price, excluding the Fixed Price)

• Costing Price - The highest Costing Price (based on the Unit Price, excluding the Fixed Price)

• Cost Adj % - The adjustment applied to the Costing to get to the Cost Price

• Unit Cost 

• /

• Fixed Cost

• MU % - Markup % on the Cost Price - applicable when the Sell Price is auto-updated.

• Round - Rounds the Selling Price up to the value specified - applicable when the Sell Price is auto-updated.

• Unit Sell 

• /

• Fixed Sell

• GM % - Gross Margin % (Profit / Sell x 100)

• Cost/Sell - The model used to auto-update the Cost and/or Sell Prices - Automatic or Manual

• Updated - The Date and User who last updated the price

Importing prices

Functionality is provided to update the Selling Prices and Price Lists using an imported .CSV file . See Menu > Import Selling Prices. The Columns must be:

• CODE - The Item Code which is used to match the Item - must be enclosed by double quotes - eg. "Code"

• DESCRIPTION - The Item Description (For easy reference) - must be enclosed by double quotes - eg. "Item, Colour, Size"

• UNIT - The Item Unit which is used to match the Item - must be enclosed by double quotes - eg. "UnitName"

• SELLPRICE - The Selling Price (Unit Price)

• PRICELISTCODE1, PRICELISTCODE2, etc.  - The code of the Price List to be updated.

General Setting > Default: Copy and Paste Pricing Import file - Default = No. This allows you to Paste the .csv file instead of selecting it from your hard drive.

Actions (Selling Prices) 

• Batch Updates - See Descriptions below

• Delete Prices - Prices linked to Costings will not be deleted.

• Auto-update the Cost Price from the Highest Costing  - This will set the Cost Price to default to the highest Costing (Supplier Price if the item is Supplied or Costing Total if the Item is Produced). When the Costing is updated, the Cost Price will automatically be updated too.

• Auto-update the Selling Price from the Cost Price - This will cause the Selling Price to update when the Cost changes. This is a safe way to maintain your required margins.

• Manually Update the Selling Price - This will require you to review and update your Selling Prices manually.

• Manually Update the Cost Price - This will require you to review and update your Cost Prices manually.

• Export Selling Prices (.csv) - Will Export the Prices in the Selling Price grid view and add a field for each Price List which is in the same Currency.

• Import Selling Prices (.csv) - Imports Selling Prices from a file identical to the Export file.

Batch Updates (Selling Prices)

• Adjust the Cost Price by % - Add a percentage to the Cost Price to cover Handling, Breakage, Shrinkage, Landing Costs, etc.

• Selling Price by MU% - Adjust the Selling Price by marking up the Cost Price (Markup % = Profit / Cost Price * 100)

• Selling Price by GP% - Adjust the Selling Price to achieve a certain Margin (GP% = Profit / Selling Price * 100)

• Selling Price by Profit - Adjust the Selling Price by adding a fixed Profit amount in your local currency.

• Round the Selling Price - Round the selling price up to the nearest multiple of a number - eg. 123.45 rounded to the nearest multiple of 5 = 125.00

• Price Qty (/) - Set the quantity to which the Prices apply. The default = 1, but for low-value items you may work in Price/1000

• Add Currency - Prices will be added for the selected currency - if it does not exist.

• Status - Set the Cost/Sell Price to Active