Update Item Prices from a Receiving Voucher

Receiving Overview | Print Price Tags

Basic

It's inevitable. Your vendor raises their price for an item and you need to decide whether to pass on the increase to your customers.

Point of Sale alerts you when a reorder item cost on a voucher is different than the current inventory cost, but does not automatically update the price. Whether you change your price and by how much is at your discretion.

You can change the price and print new tags from the voucher, if you wish.

To update the price and print new tags from the receiving voucher:

1. When you go to print/save the voucher, you are alerted that you are receiving an item or items at a new cost. Answer Yes, that you want to review the prices before saving the voucher.

2. Select the item with the new cost in the voucher item list and then click Edit.

The Item Information window opens, as shown here, displaying price and margin information (other information removed from illustration for clarity).

The item price shown is your current Regular Price from inventory. The margin and markup numbers show what your profit margin would be at this price relative to the cost on the voucher (not relative to your average unit cost; see note below).

3. Adjust the item price by entering a new price or by adjusting the margin or markup and then select OK.

4. To print new price tags from the voucher, with the item highlighted select Print Tags from the I Want To menu.

5. Repeat for other items, if applicable.

6. Print/save the voucher.

Notes:

- The new regular sales price (and markdown price levels if you use them) are updated in inventory when you save the voucher.

- Use the margin and markup shown on the voucher as a guideline in setting price. When saving the voucher, these values will be recalculated in inventory relative to the new average unit cost.

- If items received on a voucher are brand new (i.e., do not yet have a regular price defined in inventory, but do have a margin or markup defined) Point of Sale will automatically calculate the regular price by applying the specified margin or markup to the voucher cost upon saving. If you use markdown price levels, those prices are also calculated based on the markdown percentages specified on the item record (and defined in company preferences).

Related Topics

Use Markdown Price Levels

Price Change Reminders

Price/Cost Relationship