Item Pricing

inventory item pricing matrices facilitate the effective development of pricing rules, guaranteeing that customers are presented with precise pricing throughout the invoicing process pricing can be set as either a fixed amount or a percentage of the default item price pricing elements include customer customer price class item item class item default price pricing hierarchy the hierarchy on how pricing matrices is as follows customer/item (highest) customer/item class price class/item price class/item class default item price (lowest) for instance, if the default item price is set at $100, the price class/item price is $90, and the customer/item class is at $75, the invoice price will be determined to be $75, as it is the highest value within the established hierarchy process steps create default prices on inventory items create item classes as necessary to group items for pricing create customer price classes as appropriate to group customers for pricing select appropriate matrix type complete the price table lines with at least one entry for the correct pricing fields header name a name for the price matrix being created price method select one of the following pricing methods review the hierarchy above to select the correct method customer/item one customer gets a price or discount % on one item customer/item class one customer gets a price or discount % on a group of items price class/item a group of customers get price or discount on one item price class/item class a group of customers get a price or discount on a group of items customer the field is effective for price methods customer/item & for customer/ item class select the appropriate customer for the matrix price class the field is effective for price methods price class/item & for price class/ item class select the appropriate price class for the matrix item the field is effective for price methods customer/item & for price class/item select the appropriate item for the matrix item class the field is effective for price methods price class/item & for customer/item class select the appropriate item class for the matrix price type select amount or percentage this price type will mark the item price up or down from the default price on the item by the percentage in the line item table fields line item unit of measure enter the unit of measure for the pricing table this allows different pricing for 12 each vs 1 dozen starting quantity & ending quantity enter the quantity range for the price level gravity allows you to create price breaks for different quantities sold amount/percentage this field is based on the price type in the header when amount is selected this will be the price charged on the invoice for the uom and quantity sold when percentage is selected, this will represent the percentage increase or decrease from the item default price examples default price = $100 percent = 10 end price = $110