InventoryGuide > Inventory > Establishing Prices for Your Stock Items > Pricing Determined By Discount Codes
Pricing Determined By Discount Codes
Discount Codes let you automatically use unique pricing policies to promote certain markets or products. You can extend special prices on inventory items to targeted customers and implement strategic pricing plans.
At the time of sale, the system identifies the customer and each inventory item, and then calculates the selling price for each stock item based on a discount percentage you specify for this particular customer and stock item. A Discount Code subtracts a percentage from the list price. You can also combine a discount with markup or margin pricing (see Setting Up Markup/Margin Codes).
You should plan your Discount Codes before you set them up.
To set up Discount Codes, you will need to:
add the customer discount text to the affected customer records in Accounts Receivable.
and the stock item discount text to the affected stock item records in Inventory.
You can perform these three tasks in any order, but the code will not take effect until you complete all three.
NOTE: If multiple price reductions exist for the same stock item (i.e., Price Level Codes, Discount Codes, and/or Promotional Pricing Code) the lowest price is automatically used.
Published date: 12/21/2020