To set prices, follow these steps:
Once items have been added to the inventory, they can be easily priced and updated.
Go to Inventory> Pricing.
Use the search options to filter specific items.
Click on the Price A field for updating a product price.
Enter the new price and press the Enter or the Tab key.
The new price will be automatically recorded and the GPM updated.
The system will automatically set the Price A for open market products, based on the landed cost and the GPM that has been established for the company at "Setup".
When the E-commerce is enabled , you can set up a price per product that will apply on E-commerce transactions. When this field is available, you can perform actions like Export to Excel or Pricing Mass Updates that will include the web price. In any case, the next conditions must be given:
- The customer's default price should be the A.
- The setting Landed Cost as Price must be disabled.
- The setting Hide Prices & Costs must be disabled.
- If there is no Web Price, the system will apply the price A in E-commerce.
- When the Product Price Reminder setting is enabled, the system will suggest a web price by default (this also depends on the Max Age set up in the Price Reminder Setting).
To change the Inventory Type information for a line item, just click on the Type field and enter the letter that matches the new inventory type you wish to assign, as follows:
M: Open Market.
S: Standing Order.
The user will have the option to use the tab navigation key to set price A and price B in an easy way. This option only applies when setting prices for Inventory and Staging Area items.
Go to Inventory > Pricing and Search the lines that need to be updated.
Click on the Options button and select the "Enter key behavior for Price A and Price B" link to see the two available options:
- The Enter key will move the focus within the price columns vertically: When pressing the Enter key the focus will change to the field below within the same column.
- The Enter key will move the focus from column Price A to column Price B only, in a zig-zag manner, so only these fields can be updated: When pressing the Enter key the focus will change to the field in the next column. Where the user can update Price A, and then Price B for the same line item.
Staging Area Price
By clicking on the gear icon, users can display all the available columns. The Staging Area Price column will allow the user to price the items from the Staging Area. By entering a price there, the system will automatically update all products that are identical in the staging area and that come in for Open Market.
For an easier way to price Staging Area items, the system allows users to set the price directly from the Inventory > Pricing page.
Go to Inventory > Pricing and click on the Staging Area Items link.
Items in transit can be priced by setting the value under the Price A or Price B columns. Once the pricing has been updated and the user hits enter, the system will save the information.
Keep in mind that the system will only update the Staging Area items that match that have no customer or the customer is Open Market.
Price Per Unit
The users have the option to set the prices per units for those product lines that may be sold as units.
To have this option available, please keep in mind that the Sell By Units setting needs to be enabled. Please refer to Sell By Units to activate this option.
After activating this option follow the next steps to see the Price Per Units column:
Go to Inventory > Select Pricing tab> Click on "staging area Items" > Use the filters to find the lines to update.
Click on the Gear Setting icon. The "Default Columns" window will display. There you need to check the "Price Per Unit" option, so that you can view this column on the screen. Click on Save.
The Price Per Unit column will appear. Enter the price information per unit. Finally, this will be the price that each unit will be assigned after opening that box using the automatic or manual process to open boxes.
- If the user has a value in this column for a certain line of product and splits the line, the system will assign the same Price Per Unit to the new line that is created.
- If a multi-location company has a value in this column for a certain line item and transfers this product to another location, the system will maintain the same price per unit previously assigned.
For an easier way to price Hard Goods items, the system allows the user to set the price directly from the Inventory tab.
Follow the steps below:
Go to Inventory > Pricing > Click on Hard Goods Products.
Use the search option to filter specific items.
Click on the Unit Cost and Unit Price fields for the line items that need to be updated.
After the Unit Cost and Unit Price are updated, the user will have the option to enter a discount percentage and a minimum discount quantity required to be invoiced for the discount to apply for each product line item.
Finally, on this window, the user will have the option to Export the information to Excel.
For an easier way to price Inventory in Units, the system allows the user to set the price directly from the Inventory tab. To do so, follow the steps below:
Go to Inventory > Pricing > Click on Inventory in Units
Use the search option to filter specific items.
Click on the Price field for the product line item that the price will be updated.
Enter the new price and press the Enter or Tab key.
The new price will be automatically be recorded and the GPM will be updated.
- If multiple units are available with different pricing, the maximum pricing will be the one displayed on the sales screen.
- If there are no units available, all future units of this same product will be priced based on the last selling price per unit.
- When the settings
Once the future sales inventory is created (for more information please read Setting and Creating Future Sales), you will be able to see this inventory and set the prices on it by going to Inventory>>Pricing>>future inventory.
The prices that will apply for this inventory will be those of the price list for future sales or the price assigned in the PO for future sales. Remember if the setting Override Future Price with On hand Price is enabled, the system will use the price set up for the On-hand inventory until the date set up in the mentioned setting according to some conditions. The system will pop up a message if this is the case:
Roles enabled to perform this action: Admin, Sales Manager, Inventory.
Price B is open and can be used to enter an alternative price that will be displayed at the Order Entry screen. This price will not have any effect on the system and will not be used for any calculations. It is a simple reference value.
Change the Other Charges Field
This field can have negative values, but keep in mind that the total of negative Additional Charges within a PO cannot be greater than the product landed cost.