Master Records > Inventory > Create Inventory Record

AccountMate Enterprise supports multi-levels of inventory pricing whether for purchase transactions, for sales transactions, or for stocking. The Pricing page in Inventory Maintenance allows you to define and maintain a pricing scheme that is specific for the inventory item for which it is set up. This gives you more flexibility in handling pricing of inventories in the system.

Some of the pricing options in this page are available only if the Pricing Control module is activated.

To enter pricing details in this page, perform the following:

1.In the Item Price Group, click the List box button and select the group code to which the inventory item is assigned. To set up Item Price Groups, access the Miscellaneous Maintenance function.

2.Enter in the Maximum Discount field the highest discount rate that can be given for the item in any transaction.

3.In the MSRP field, enter the manufacturer's suggested retail price, if any. The value in this field is for reference use only.

4.Enter in the Currency field the currency code for which you want to set the item price. Alternatively, you may click the List box button to select the currency code. The foreign currency price will be calculated using the current exchange rate. The company's home currency will be the default value if Pricing Control is not activated.

5.In the Price Decimal field, click the Spinner button to set the item's price decimal setting. Once the item record is saved, you can increase but you can not decrease the value in this field.

6.In the List Price for area, define the item's List Price as follows:

6.1. If the Item Specification module is activated and the item has specification, the Specification field is accessible. Enter in this field the item's specification that you want to assign a list price.

6.2. Enter in the U of M field the item's specific unit-of-measurement that you want to assign the list price. If the Pricing Control module is not activated, the item's sales U of M is the default value in this field.

6.3. In the Multi-Level Price Setup grid, click the Append row to end button in the grid toolbar to activate a new line in the grid.

6.3.1. Enter in the Start Date field the date you want the list price to take effect.

6.3.2. Enter in the List Price field the price you want to assign to the list price level.

6.3.3. For subsequent grid entries, you may click the Append row to end button to activate a line below the currently selected line in the grid or click the Insert row before current button to insert a blank line above the currently selected grid line. Add an entry in the grid for every list price level that you want to create.

If you want to delete an entry in the grid, select the price level and click the Delete selected rows button.

7.If you have activated the Pricing Control module, define in the Minimum Price section the minimum price for this inventory item during its sale to customers by selecting or entering values on the following applicable fields:

7.1. Click the List box button in the Check Price field and select the options: Check or Dont Check.

7.2. In the Minimum Price Type area, select any of the following options and enter appropriate values on the corresponding fields:

oPercentage above average cost

Select this option to set up a minimum price for this inventory item equivalent to the item's average cost plus your desired percentage above or below the items average cost entered in this field.

oFixed amount above average cost

Select this option to set up a minimum price for this inventory item equivalent to the items average cost plus your desired fixed amount entered in this field.

oFixed amount

Select this option to set up a minimum price for this inventory item equivalent to your desired fixed amount entered in this field.

Note: The minimum price is for reference use only which the system will use to validate other prices set up for an item. You can no longer change the Minimum Price Type after saving this record..

8.In the Special Price for area, define the item's Special Prices/short-term sales price that will override the regular price for this inventory item. The special price cannot be less than the minimum price specified in this page. Perform the steps below:

8.1. If the Item Specification module is activated and the item has specification, the Specification field is accessible. Enter in this field the item's specification that you want to assign a special price.

8.2. Enter in the U of M field the item's specific unit-of-measurement that you want to assign the special price. If the Pricing Control module is not activated, the item's sales U of M is the default value in this field.

8.3. In the Special Price Setup grid, click the Append row to end button in the grid toolbar to activate a new line in the grid.

8.3.1. Enter in the Start/End Date fields the period during which the system is to apply the special price.

8.3.2. Enter in the Special Price field the price you want to assign to the special price level.

8.3.3. For subsequent grid entries, you may click the Append row to end button to activate a line below the currently selected line in the grid or click the Insert row before current button to insert a blank line above the currently selected grid line. Add an entry in the grid for every special price level that you want to create.

If you want to delete an entry in the grid, select the price level and click the Delete selected rows button.

9.If the item is with specification and the Item Specification module is activated, the Item Price Group by Specification checkbox is enabled. Mark the checkbox if you want to assign Item Price Group to each item specification; otherwise, leave it unmarked.

Pricing Page

Pricing Page