Introduction to Stock Item Pricing
You can use Inventory to set up different methods of stock item pricing, from simple pricing to complex schemes. This gives you basic information about the different methods you can use.
Click thumbnail to view larger image.
These are some of the methods available to help you customize prices for inventory items:
• Special Customer Pricing - In Sales, you can assign a particular price for a selected stock item to a certain customer so the customer receives a special price for that stock item every time.
• Special Group Pricing - You can establish special price levels for items if you want to charge different prices for the same stock items to two or more categories of customers. For more information on setting up special price levels, see Setting Up Special Price Levels for Groups of Customers.
• Price Break Pricing - You can use the Qty / Price Info tab of the IN Stock window to give your customers price breaks when they purchase certain quantities of a stock item.
• Discount Codes - You can establish Discount Codes to automatically apply discounts to stock items at the time of sale. For information on discount codes, see Pricing Determined By Discount Codes.
• Markup and Margin Codes - You can establish markup or margin pricing to calculate the cost of an inventory item based on either a mark up of a percentage from cost or a specific profit margin. For information on Markup and Margin Codes, see Pricing Determined By Markup or Margin Codes.
• Promotional Codes - You can establish Promotional Codes if you want to change the price of a stock item for a sale or promotion for a certain time period. For more information on Promotional Codes, see Pricing Determined by Promotional Codes.
NOTE: Some pricing schemes require you to set up information and codes in the Inventory, Accounts Receivable, and Sales modules. If you do not have Accounts Receivable installed and integrated, only List, Markup, Margin, and Promotional Pricing are available in Inventory. |
If you have Specialty Shop installed, you can also use the following options to customize prices for inventory items:
• Coupon/Buy Down Pricing - Allows you to set up coupon or buy down pricing for certain stock items to work in conjunction with the Sales module. See Setting Up Buy Down Pricing for information about setting up these codes for use in Inventory.
• Multi-Pack Pricing - Allows you to set up a multi-pack pricing scheme for certain stock items. For information on setting up this type of pricing, see Setting Up Multi-Pack Pricing.
If you apply multiple pricing options to the same item, the system uses the pricing method that results in the lowest price.
Published date: 12/21/2020