Adding, Editing & Deleting 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.
Prerequisites
- 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
| |
| 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
| Dependent Field Description
What is Net Price? Net Price is calculated by applying the taxes to be charged on the item. |
| Round Off |
There are four (4) options for this field - Do not Round (default option) Upper Lower Round - If applied -
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. | ||
| Add Row | Earlier the Add Row function added a row to the bottom of the list and the record at the bottom had greater priority. Now the Add Row function will add a row to the top of the list and the record at the top will have greater priority. New feature from 11.130.0-1.130.0 Note: A very useful feature has been provided - on right clicking the records, you get the option to move the record directly to the top or bottom of the 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 | This button allows to add an item to the Price List - Exception Criteria by scanning its barcode. However, the scanning will be only in Automatic mode as inclusion of quantity is not required. | |
| Copy Exception | Allows to copy exception details from another Price list. | |
| Set Priority | This button opens a new window to show the priority of the applicability of the various prices in the price list. You can set different priorities for same / different prices of items / assortment criteria for same / different date range. Example
| |
| 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 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. In case of this option the base price would be the price type mentioned in the Application section with the Markdown or Markup as defined in the Item Master. For example, if the price type in the Application section of a Price List is RSP, and the RSP for Item A001 is Note: For option As per Master config. the applicable price will be calculated as per the factor specified in Factor/Price field and the values of the following fields in Application section - Price type (RSP / WSP/ MRP / Standard Rate / Effective Rate / FIFO), Include Tax, Round Off, Up to multiples of. Fixed Price - This option allows to set a fixed price for the item within the selected date range. In case of this option the base price would be the price mentioned in the Factor/Price field of the same row as the item or assortment criteria. For example, on selection of the option Fixed Price in the Exception criteria for for Item A001, if the Factor/Price field has a value of Important Note: The Fixed Price is the final price and no other calculation is possible on it, i.e. no discounts are allowed on the Fixed Price of an item. |
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. This field gives the factor based on which the calculations of applicable price, of the item or assortment criteria, would be made in case of Exception Basis option As per Master config. To illustrate, in the above example, if the factor specified is 10, the a discount of 10% will be considered for Item A001 on applying the price list within the stipulated date range. On selecting Exception Basis option Fixed Price, the value given in Factor/Price field is taken as the base price of all applicable price calculations of the item or assortment criteria. For example, on selection of the option Fixed Price in the Exception criteria for for Item A001, if the Factor/Price field has a value of |
| 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 an 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. |
| Retail Price From / Retail Price To | These two (2) fields, coming at the end of the Assortment Criteria, provide the values for the two ends of the price range of the item or Assortment Criteria. Note: The range defined here would be for the Price Type selected above, i.e. if RSP is selected as price type in the Application section for markup or markdown calculation: then the price range defined would also be for RSP. | |
| 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. | |
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 .
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.