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Pricing Mark Up Groups

This Help File Page was last Modified on 06/10/2016

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Pricing Mark Up Groups

This Help File Page was last Modified on 06/10/2016

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Pricing Mark Up Groups

This Help File Page was last Modified on 06/10/2016

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The Pricing Mark Up Groups Form is used to create any number of special purpose Mark Up/Mark Down Percentages, and assign each a Description and a system ID number.

Once created, a Pricing Mark Up Group may be assigned to a Prospect on the Prospect Information Form, and/or to a Subscriber on the Accounting Information Section in the Edit Tab of the Subscriber Information Form.

After a Pricing Mark Up Group is assigned, when an Invoice and/or Proposal is created:

1.If that Subscriber or Prospect (respectively) has a Pricing Mark Up Group assigned, and 

2.If the Sale-Purchase Item's Retail Price value has been entered, then

3.As the Sale-Purchase Item is added to the Invoice or Proposal, the Amount (Price) to be charged for that Sale-Purchase Item will be calculated based on the Percentage Markup defined in that Pricing Mark Up Group, rather than using the default Sale-Purchase Item's Retail Price value.

 

Calculating the Price on the Invoice or Proposal using a Pricing Mark Up Group's Percentage:

a.Multiply the Sale-Purchase Item's Retail Price value by the assigned Pricing Markup Group's Percentage.

b.Adjust that result to the Retail Price (keeping in mind that a Minus Pricing Markup Group's Percentage value is subtracted from the Retail Price - see  Important Note #1 below).

c.The sum of those two calculations will be the Amount (Price) that is charged for this Invoice or Proposal line item.

Important Note #1: The Pricing Markup Percentage may be a positive or negative value.

i.When the assigned Percentage is a positive value, the calculated Price will be greater than the original Retail Price, thereby charging a "premium" for this item.

ii.When the assigned Percentage is a negative value, the calculated Price will be less than the original Retail Price, thereby offering a "discount" for this item.

iii.In either case. the sum of those two calculations will be the Amount (Price) that is charged on the Invoice or Proposal for the selected Sale-Purchase Item.

iv.The Sale-Purchase Item Drop-Down Selection List list will display both the default retail Price and the adjusted Mark Up Price.

 

HelpFilesSalesFormSale-PurchaseItemsDropDownList

Sale-Purchase Items: Sale Item ID, Description, (Retail) Price, & the (adjusted)  Ext. Price (the Mark Up Price)

 

Important Note #2: Regardless of whether or not the Subscriber or Prospect has been assigned to a Pricing Mark Up Group, if the selected Sale-Purchase Item's Retail Price value has not been entered, the Price on the Invoice will have to be entered manually for that Sale-Purchase Item.

Important Note #3: The Price on the Invoice - regardless of whether it is calculated based on a Pricing Markup Group's Percentage, or the original Retail Pricemay still be modified by the User at the time of the entry.

 

Creating a Pricing Mark Up Group:

a)From the Backstage Menu System Select Maintenance and Choose General and Click the General Maintenance option which displays the Maintenance Menu or,

b)From the Quick Access Menu, Select Maintenance and Choose General Maintenance to display the Maintenance Menu.

 

Once the Maintenance Menu is displayed, Select Receivables and Choose Pricing Mark Up Groups.

 

HelpFilesPricingMarkUpGroups

Pricing Mark Up Groups Form

 

This Mark Up Groups Form may be Re-sized by Dragging the Top and/or Bottom up or down, and/or the Right side in or out.

Navigation Menu - The Navigation Menu is located at the top of the Pricing Mark Up Groups Form.

 

HelpFilesNavigationBar-Generic

This Navigation Menu provides the normal Record Movement, plus Add, Delete, Cancel, Save, Refresh, and List options.

 

Record Editing View - The details of the currently selected record are displayed below the Navigation Menu at the center (Main Body) of the Pricing Mark Up Groups Form.

 

HelpFilesPricingMarkUpGroupsRecordEditingView

Pricing Mark Up Groups Form - Record Editing View

 

To define the Pricing Mark Up Groups which will be used to calculate a (previously identified) Subscriber's Price for each Sale-Purchase Item added to an Invoice or Proposal:

Click the Add HelpFilesNavigationMenuNewIcon to start a Pricing Mark Up Group entry in the Record Editing View.

ID - This record number will be assigned after the entry is initially saved.

Description - Enter a Description of this of the Pricing Mark Up Group.

oThe Description may up to 30 characters in length and include upper and/or lower case letters, numbers, spaces and normally used punctuation marks. 

Percentage - Enter the Percentage of Mark Up/Mark Down as a positive or negative value.

oThe regular Retail Price entered for a Sale-Purchase Item will be increased or decreased (respectively) by the sum of that Percentage rate multiplied by the Retail Price, plus the original Retail Pricewhen creating an Invoice or a Proposal.

oSee "Calculating the Price on the Invoice or Proposal using a Pricing Mark Up Group's Percentage" above.

Click the HelpFilesNavigationMenuSaveIcon to record this Pricing Mark Up Group.

Any number of additional Pricing Mark Up Groups may be created.

 

 

HelpFilesNavigationMenuGrid-PrintIconList Icon - The Navigation Menu also has a List option which provides a tabular view of these Pricing Mark Up Group records.

 

HelpFilesPricingMarkUpGroupsGridView

Pricing Mark Up Groups Form - List View

 

Click the List Icon to display the associated Grid Data.

The columns of Grid Data may be rearranged, filtered, sorted, and exported as a PDF file and/or an Excel formatted file.

 

HelpFilesGridFind&ClearOptions

 

Find - Enter text to search for a specific record, then Click the Find option.

Clear - To remove the text to search for entry, Click the Clear option

 

HelpFilesNavigationMenuGrid-PrintIconWithOptions

Navigation Menu shown with the List Options for Export & Print

 

Click the List Icon again to Close the List View and return to the Record Editing View.

See the Grids - Print Preview - Export Data chapter for complete information on using the List View, including its Export & Print options.

 

Using a Pricing Mark Up Group:

To use the Pricing Mark Up Groups to a calculate the Amount (Retail Price) to be charged for a Sale-Purchase Item as that item is added to an Invoice or a Proposal:

1.Define the desired Pricing Mark Up Groups to fit your Company's needs.

2.Enter a Retail Price (the "List Price" value) on the Sale-Purchase Items Form for each item to which a Mark Up Percentage calculation should be applied when the Amount (Price) for that item is inserted while creating an Invoice or a Proposal.

3.Be sure to also enter a Retail Price  Amount on the Sale-Purchase Items Form because a Mark Up Percentage may not always be applied!

This will ensure that the correct Retail Price - when not being adjusted by a Pricing Markup Group Percentage - will be used for the item's Price on an Invoice or a Proposal

The Price Override tab on the Sale-Purchase Items Form allows for the entry of a different set of Pricing Mark Up/Down Percentages for previously defined Pricing Mark Up Groups, as appropriate.  

4.Inventory Items must also have both a Price (the actual cost or wholesale) value and a Retail Price value assigned

See the Inventory Valuation Methods chapter if using the Inventory Tracking System, and the Tracking Inventory Values chapter if also using the General Ledger System for more information about the PriceCOGS Value and Inv. Value fields.

5.Any Sale-Purchase Item may also have a Price Override defined for any, or all predefined Pricing Mark Up Groups.

When a Price Override Percentage is defined for a Sale-Purchase Item, that Percentage will prevail in the Price calculation.

See "Calculating the Price on the Invoice or Proposal using a Pricing Mark Up Group's Percentage" above.

6.Assign a Pricing Mark Up Group to Prospects (on the Prospect Information Form) and Subscribers (on that Form's Accounting Information Section), when appropriate.