Use a Department Pricing Formula for New Items

Item Price and Cost | Department Overview

Point of Sales pricing formula can be used to calculate item prices when they are first added or received into inventory.

When a new item is added and assigned to a department with a predefined margin or markup, Point of Sale will calculate your regular price from the average unit cost by applying the specified margin/markup. Prices for your other price levels are calculated based on the price level markdowns defined in company preferences.

Note: The ability to see cost fields, including margin and markup and other fields related to cost, can be controlled by security rights. If you do not have the right to view item costs, the fields will be masked like this "*****". This right affects cost fields in inventory and on all documents and reports.

To define a default department margin or a markup:

1. Display the department record.

2. Enter a margin value in the Margin % field or a markup value in the Markup % field. Entering either results in the other being calculated and auto-filled by Point of Sale.

My markup value sometimes changes right after I enter it. Why?

3. Select Save.

Notes:

- The department pricing formula is applied only to new items (previous price = $0) added to inventory. It is not applied to the prices of existing items when item costs change.

- If you prefer not to use Point of Sales pricing formula, do not enter a margin or markup on the department record. Manually enter item prices as you add items to inventory.

- Margin and markup can be edited in inventory for individual items as necessary. Just edit the Margin % or Markup % fields of individual item records.

Related Topics

Edit a department