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Next Generation - Different price methods for a stock record explained

A guide to the different stock pricing methods available for selling and purchasing prices, with examples of how each method calculates the price.

You can choose between several pricing methods for a stock record for the selling and purchasing prices.

The pricing method field is displayed on the Stock Prices - Sales and Purchase popup windows accessed from the Price Keys you are updating.

Access the Price Method field on a stock record

  1. Click Stock then click Stock Records.
    ​Note: All stock records are displayed. You can narrow down your search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the

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    icon and choose from the available filter list, then click OK.

  2. In the Stock Code column, click the hyperlink, the underlined text.
    ​Note: The Action Panel automatically opens from the right-hand-side of the screen. You can close the panel by clicking on the arrow

    image.png

    icon on the right-hand side middle of the screen.

  3. Click on the Edit button at the bottom of the screen to set the record into edit mode.

  4. Click on the Prices tab, then click on any of the Sales or Purchase Price keys.

  5. You can find the Method field on the Pricing Method Detail section of the Stock Price Sales or Purchase popup window, and it defaults to Fixed.

For more information on what each different pricing method does, please refer to the table below:

Pricing Method

Description

Fixed

  • This is your default price.

  • It represents the price of a unit multiplied by the Sales or Buy Unit.

    • Example:

      • If you set up your price per unit as 2.00 and your Sales Unit is 10, then you should set the Price for this stock item 20.00.

Quantity

  • Can be selected from the Method drop-down.

  • When selected, you get the Quantity Range From and Quantity Range To fields which you need to populate.

  • If you raise an order where in the Terms tab Quantity Price is set for Price Keys on a customer or supplier, then this price will be applied to your order.

Quantity Uplift %

  • Not available for Price Key 1 for sales or purchase prices.

  • When you select this Method drop-down for any other price keys, you will need to apply a percentage which then will be used for the price calculations.

    • Example where the Sales radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your sales price key 2 = Quantity Uplift %, your Quantity Range is set from 1-5 and your percentage is set to 10% while your uplift is set for sales.

      • Once you have set up your Quantity Uplift % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £11.00 as the uplift is done on the value you added for Sales Price Key 1.

    • Example where the Purchase radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your purchase price key 1 = Fixed and £8.00

      • Your purchase price key 2 = Quantity Uplift %, your Quantity Range is set from 1-5 and your percentage is set to 10% while your uplift is set for purchase.

      • Once you have set up your Quantity Uplift % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £8.80 as the uplift is done on the value you added for Purchase Price Key 1.

Quantity Deduct %

  • Not available for Price Key 1 for sales or purchase prices.

  • When you select this Method drop-down for any other price keys, you will need to apply a percentage which then will be used for the price calculations.

    • Example where the Sales radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your sales price key 2 = Quantity Deduct%, your Quantity Range is set from 1-5 and your percentage is set to 10% while your deduct is set for sales.

      • Once you have set up your Quantity Deduct % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £9.00 as the deduction is done on the value you added for Sales Price Key 1.

    • Example where the Purchase radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your purchase price key 1 = Fixed and £8.00.

      • Your purchase price key 2 = Quantity Deduct%, your Quantity Range is set from 1-5 and your percentage is set to 10% while your deduct is set for purchase.

      • Once you have set up your Quantity Deduct % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £7.20 as the deduction is done on the value you added for Purchase Price Key 1.

Uplift %

  • Not available for Price Key 1 for sales or purchase prices.

  • When you select this Method drop-down for any other price keys, you will need to apply a percentage which then will be used for the price calculations.

    • Example where the Sales radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your sales price key 2 = Uplift %, and your percentage is set to 10% while your uplift is set for sales.

      • Once you have set up your Uplift % price method, added the percentage, the price for price key 2 will automatically be calculated as £11.00 as the uplift is done on the value you added for Sales Price Key 1.

    • Example where the Purchase radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00

      • Your purchase price key 1 = Fixed and £8.00

      • Your purchase price key 2 = Uplift %, your percentage is set to 10% while your uplift is set for purchase.

      • Once you have set up your Uplift % price method, added the percentage, the price for price key 2 will automatically be calculated as £8.80 as the uplift is done on the value you added for Purchase Price Key 1.

Deduct %

  • Not available for Price Key 1 for sales or purchase prices.

  • When you select this Method drop-down for any other price keys, you will need to apply a percentage which then will be used for the price calculations.

    • Example where the Sales radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your sales price key 2 = Deduct%, and your percentage is set to 10% while your deduct is set for sales.

      • Once you have set up your Deduct % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £9.00 as the deduction is done on the value you added for Sales Price Key 1.

    • Example where the Purchase radiobutton is active:

      • Your sales price key 1 = Fixed and £10.00.

      • Your purchase price key 1 = Fixed and £8.00.

      • Your purchase price key 2 = Deduct%, your percentage is set to 10% while your deduct is set for purchase.

      • Once you have set up your Deduct % price method, added in the range and the percentage, the price for price key 2 will automatically be calculated as £7.20 as the deduction is done on the value you added for Purchase Price Key 1.

Related Articles
Next Generation - Populate the terms tab for a supplier record
Next Generation - Populate the Details tab for a stock record
Next Generation - Populate the Prices tab for a stock record
Next Generation - Set up Selling Prices for a stock record
Next Generation - Set up Purchasing Prices for a stock record
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