Product Price

[519 | Inventory | Maintenance | Product Price

1. The Price Class is attached at the inventory level and many products can share the same price class. This method is used if you need to have different products that share the same pricing structure. 
   1. Promotional Price - Ability to set a price for a specific date range.
   2. Price Break  - Ability to set prices by quantity.
2. Inventory price is unique for each inventory record. Refer to Figure 2 below. The following options are available: 
1. Price Level - Ability to set prices by customer groups. Price Label in POS will be enables if a price is setup.
2. Cost Plus Markup - Ability to add a percentage markup to an item based on cost price.
3. Promotional Price . Same as 1.1.
4. Quantity Break. Same as 1.2. 
5. Debtor Specific Price - Ability to set price structure by debtor and inventory item combination.
   1. Cost Plus Markup . Same as 2.2. 
   2. Promotional Price . Same as 1.1.
   3. Quantity Break . Same as 1.2.

Below is a detailed explanation of each pricing option:

Price Level

Inventory Price Level is used together with the customer masterfile. There is a maximum of ten price levels that can be configured. Price levels are unique to each inventory item, and once the different price levels are defined, they can be attached to a customer.

Cost plus markup

This option allows the item to be sold based on a percentage markup on cost price. Cost Price is defined on the inventory masterfile, and since cost price does not include tax, tax will be added if the item is configured to be taxable.

Note: If the tax code is inclusive, cost plus markup will still add tax amount on top of the markup percentage.

Promotional Price 

Promotional Price can be used to set a price of an item over a specifc period in time.

Quantity Break 

This price structure allows prices to be defined based on quantity. There are two options with quantity breaks:

1. Quantity breaks without modulus
   In this configuration, the first quantity break must be setup with a quantity of 1. This defines the price of a single item is sold. The next quantity break can be configured to define prices for the quantity sold.
   For example:
   Quantity Break 1, Quantity = 1, Unit Price = $100. This means that the price to sell 1 item is $100 each.
   Quantity Break 2, Quantity = 5, Unit Price = $95. This means that the price to sell 1 to 4 items is $100 each, however if 5 or more items is sold, the price wil be $95 each. < BR > Up to 5 quantity breaks can be configured.
   
2. Quantity breaks using modulus
   When modulus is turned on, notice the label "Unit price" changes to "price". This means that the price entered will be charged for multiples of the quantity breaks configured.
   The first quantity break must be setup with a quantity of 1. This defines the price if a single item is sold. The next quantity break can be configured to define prices for the quantity sold.
   For example:
   Quantity Break 1, Quantity = 1, Price = $100. This means that the price to purchase 1 item is $100.
   Quantity Break 2, Quantity = 5, Price = $450. This means that the price to purchase 1 to 4 items is $100 each, however if a quantity of 5 is sold, the line total will be $450. This means the unit price will be $450 divide by 5. < BR > If 6 items are purchased, the first 5 quantity will be sold at $450 and the 6th quantity will be sold at $100 giving the line total of $550. < BR > Upto 5 quantity breaks can be configured.
   

Debtor Specific Price

Figure 2 : Product Price