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