How To: Manage the Price List

What is Price List?

A Price List is a listing of prices for different products or services. Usually multiple price lists are created to cater to various organization need of maintaining separate price structures for different regions in which the products are sold or for different sales channels; more importantly to different customers. For example - a cheaper price is offered to the customer who makes purchase in all the seasons and a higher price is provided to the customer who purchases only in one season in the whole year.

What is the need for creating Price List?

Price lists tell agents and vendors the selling value of the products or services. The lists of prices tie the unit, product, and pricing details together; so before a price list is created, it must be ensured that the units and products are in place.

Every business has to give its customers prices for its products or services. Most businesses draw up a price list at some stage. There are several ways of doing this. Many businesses, use a standardized price list where rates remain the same for every customer. Those that sell a fixed range of products or services, use the standardized price list as the only form of pricing . A standard price list can also be used as the basis for pricing non-standard orders. Other businesses, have to provide tailored prices for the specific products or services a customer wants to buy; usually done with an estimate or a quotation.

Add Price List

Pre-requisites

The user's role must have the Add application operation enabled for Sales & Distribution > Setup > Customers > Price List in Admin > Security > User > Roles .

Step-by-step guide

Following steps are used:

Go to Sales & Distribution > Setup > Customers > Price List.
Click on the Add button open Add Price List window

The following table shows the Field Names and provides a description of their functionality.

Field Name	Field Description
GENERAL
Price List Name (Mandatory)	Name of new price list to be created. Note:Duplicate names will not be allowed.
Remarks	Any observations/notes may be put down here.
APPLICATION
Markup	The factor percentage (%) to be calculated on the following Price Type and added to price of applicable items for actual price determination. Applicable Price Types RSP - Retail Sale Price (default option) WSP - Wholesale Price MRP - Maximum Retail Price Standard Rate Effective Rate FIFO Rate Important information The factor percentage is a mandatory field with following conditions Negative value not allowed the factor (numeral) by which it will operate on the base value has to be ≦ 100 Can be zero The Price type is also a mandatory field.
Markdown	The factor percentage (%) to be calculated on the following Price Type and subtracted from price of applicable items for actual price determination. Applicable Price Types RSP - Retail Sale Price (default option) WSP - Wholesale Price MRP - Maximum Retail Price Standard Rate Effective Rate FIFO Rate Important information The factor percentage is a mandatory field with following conditions Negative value not allowed the factor (numeral) by which it will operate on the base value has to be ≦ 100 Can be zero The Price type is also a mandatory field.	Dependent Field Description Include Tax - This field has five (5) options to choose from Do not include - This is the default option; tax is not included in the prices calculated on the basis of this price list. Based on selected price type before Markdown - In this option the customers' selected price type is taken into consideration for tax calculation before the price is marked down. Based on selected price type** after Markdown - In this option the customers' selected price type is taken into consideration for tax calculation after the price is marked down. Based on net price before Markdown - In this option the net price is taken into consideration for tax calculation before the price is marked down. Based on net price *after* Markdown - In this option the net price is taken into consideration for tax calculation after the price is marked down. What is Net Price? Net Price** is calculated by applying the taxes to be charged on the item.
Round Off	The Round Off option is applied to make calculations easier and more practical. There are four (4) options for this field - Do not Round (default option) Upper Lower Round - If applied - the round off can be made to Upper i.e. to 3.67 will be upper rounded off to 4 the round off can be made to Lower i.e. to 3.67 will be lower rounded off to 3 the round off can be made to Round i.e. to 3.67 will not be rounded off to 3 but will be rounded off to 4 as it is nearer to the actual number. However by the same logic, 3.43 will be rounded to 3 and not 4. 2. Up to multiples of - This optional user input field signifies the multiple to which the value should be rounded; in other words, the rounded value should be divisible by the number given in this field i.e. suppose the value given in Up to multiples of field is 3, then 3.67 will be rounded off to 6 if the round off type is Upper and 3 if the round off type is Lower / Round. The two numbers (6 and 3) are divisible by 3. IMPORTANT Round Off is not applicable on Markdown if tax is included in the price calculations.
EXCEPTIONS - This block of data displays the assortments on which the default price list factor defined will not be applicable. The factor and the date range specified in the left hand side grid will be applicable on the right hand side assortment. Important information Note : The Markup / Markdown percentage defined in the `Application` section will be applicable on any item to which this price list is tagged. However, for the items in the assortments defined in the exception list, the markup / markdown factor will be the one defined in the `Exceptions` section.
Add Row	This button allows the addition of a new row at the end of the exception list.
Show items	Each row in the Exceptions grid is an assortment, clicking on any assortment and then clicking on this button opens a window to show the items included in that assortment.
Scan Items	When individual items are to be scanned.
Copy Exception	Allows to copy exception details from another Price list.
Set Priority	Allows to set the priority for selection of price list exception to items within same date range but having different
Date From	The date from which the Price list is applicable.	Behavior of Date From and Date To * At least any one parameter needs to be selected for the assortment, in order to provide Date From / Date To or Factor% or Fixed Price. * Date Range specification is mandatory i.e. if Date From is provided then Date To is mandatory and vice versa * If Date From > Date To then, Price List creation is restricted.
Date To	The date till which the price list is applicable.
Exception Basis	This is the criterion based on which the items are exempted from the price list.	Behavior of Exception Basis As per Master config. - This option allows the flow of standard rate, wholesale price, retail sale price and maximum retail price. Fixed Price - This option allows to set a fixed price for the item within the selected date range
Factor/ Price (Percentage factor or Fixed Price)	The factor given here will be applicable on the assortments defined in the Exceptions grid. Note: The factor mentioned is always applicable as a percentage In case of particular items, a fixed price may also be mentioned which will be applicable on the item while the price list is applicable for items not in the exception grid.	Behavior of Factor * Saving is not allowed, if assortment criteria has been provided and factor is blank. * Negative figure is not allowed * Factor% cannot be 100
Assortment	As mentioned before, exception displays the assortments on which the prices will be calculated by a different factor from the price list. It also shows the date ranges through which the exceptional price will be applicable on the respective assortment E.g. suppose a agent is invoiced at a 10% markup for all items, but for electronic goods he may be invoiced at a 15% markup by defining exceptions for a particular date range.	Behavior of Division, Section, Department, Article Name - * List has been provided for each field. * Manual input will be validated from the list of values. * Division, Section, Department and Articles will display dependent values in the Lookup, i.e. If division is selected then look-ups for subsequent fields will display values for that Division only * Selection of Section, Department or Article value will auto populate Division, Section and Department respectively * Change in Division, Section or Department will clear the subsequent fields
FOOTER
This record is extinct	This check box allows the flexibility of making the price list extinct if they have become obsolete for application.
Save	This button will save the Price List.
Close	This button will close the Add Price List window.

Edit Price List

On selecting a Price List and clicking the Edit option, the Edit Price List window opens, similar to the Add Price List window. The user can edit any of the details in the window, provided the following conditions are fulfilled:

Pre-requisites

The user's role must have the Edit application operation enabled for Sales & Distribution > Setup > Customers > Price List in Admin > Security > User > Roles .

Important information

Modification of 'Price Type' is not allowed if Price List is already tagged in other masters like Customer, Site etc.
Modification of 'Include Tax' is not allowed if Price List is already tagged in other masters like Customer, Site etc.
Change of Include Tax from "No" to "Yes" will -

* Delete Multiples of Round Off value.
* Will disable the Round Off block.

Change of Tax Included from "Yes" to "No" will -

* Will enable Round Off block .

Modification of Mode, Factor, Round off is allowed even if transaction exists against the price list
Exceptions can be modified even if transaction exists against the price list.

Delete Price List

On selecting a Price List and clicking the Delete option, the software will ask for confirmation. Upon confirmation it will delete the record with the appropriate message.

Alert

In case the selected Price List is referred to any document, the Price List cannot be deleted.