{"id":503,"date":"2012-07-31T11:47:35","date_gmt":"2012-07-31T16:47:35","guid":{"rendered":"http:\/\/www.iqaccountingsolutions.com\/blog\/?p=503"},"modified":"2012-09-24T14:21:29","modified_gmt":"2012-09-24T19:21:29","slug":"price-formulas","status":"publish","type":"post","link":"https:\/\/www.iqaccountingsolutions.com\/blog\/price-formulas\/","title":{"rendered":"Pricing Formulas"},"content":{"rendered":"<p>Last month\u2019s <a href=\"http:\/\/iqaccountingsolutions.us2.list-manage.com\/track\/click?u=0b92990bba1267be26b8ca6db&amp;id=7099736cef&amp;e=b0476d6293\" target=\"_blank\">discussion of price levels<\/a> brought up the possibility of using formulas to set prices.\u00a0 So this month we\u2019ll cover how to use price formulas in Sage 50\/Peachtree.<\/p>\n<p><strong>To set up formulas that affect all inventory items<\/strong>, go to <em>Maintain \u2013 Default information \u2013 Inventory Items<\/em>.\u00a0 On the <em>Price Levels<\/em> tab you will see a row for each price level.\u00a0 At the end of each row is a button that lets you edit the formula for that price level.<br \/>\nClick the button on Price Level 1.\u00a0 In the <em>Use<\/em> drop down list there are two choices: <em>Last Cost<\/em>, and <em>No Calculation<\/em>.\u00a0 Obviously <em>No Calculation<\/em> means you aren\u2019t going to use a formula, so let\u2019s choose <em>Last Cost<\/em>.\u00a0 In the next drop down list you have four choices: <em>Increase by Percent, Increase by Amount, Decrease by Percent,<\/em> and <em>Decrease by Amount<\/em>.\u00a0 In the next box you can enter the amount or percent by which you want to increase or decrease Last Cost to calculate an amount for Price Level 1. I can\u2019t think of any situation where you would want to calculate your selling price by decreasing last cost, but the choice of actions are the same regardless of what you entered at <em>Use<\/em>.\u00a0 I\u2019ll assume that you are smart enough to not set your selling prices below your cost.<br \/>\nThe final option is for rounding.\u00a0 You can choose from:<\/p>\n<ul>\n<li><strong>No Rounding<\/strong> &#8211; to use prices exactly as they are calculated<\/li>\n<li><strong>Specific Cent<\/strong> \u2013 if you choose this, another field will appear so you can enter the amount you want prices rounded to, such as 0.99 if all prices should end with 99 cents.<\/li>\n<li><strong>Next Dollar<\/strong> \u2013 rounds prices up to the next whole dollar<\/li>\n<\/ul>\n<p>If you click the Edit button on any other row, you will find that there is one more option in the <em>Use<\/em> box.\u00a0 In addition to <em>Last Cost<\/em>, and <em>No Calculation<\/em> there is a choice for <em>Price Level 1.<\/em>\u00a0 This is very helpful if you want to use price level 1 as list price, then other price levels can be markdowns from list price.<\/p>\n<p>Of course, you may not want use the same calculations for every item you sell.\u00a0 So Sage 50\/Peachtree also lets you set up formulas for specific items.\u00a0 You can go to <em>Maintain \u2013 Inventory Items,<\/em> select an item and click the button next to the price.\u00a0 \u00a0The only difference in the options here is that in addition to last cost or price level 1, you can choose to use the current price in calculating the new price.\u00a0 The formula you set here will only affect this item.<\/p>\n<p>One important thing to understand about price formulas is that they only recalculate when you tell them to.<\/p>\n<p>To recalculate prices for one item, open that item in <em>Maintain \u2013 Inventory Items<\/em> and click the button next to the price.\u00a0 At the top of the Multiple Price Levels window, click the <em>Recalculate<\/em> button.<\/p>\n<p>To recalculate prices for all items or a group of items, go to <em>Maintain \u2013 Item Prices<\/em>.\u00a0 If you want all items, just click OK at the filter selection.\u00a0 If you only want to change prices for some items, set whatever filters you need.\u00a0 Click OK and you will get a list of items that match your filter.\u00a0 You can de-select individual items using the check boxes on the right to further limit your selection.\u00a0 At the top left you can choose which price levels you want to recalculate.<\/p>\n<p>At <em>Select Method of adjustment<\/em> you have 3 options:<\/p>\n<ul>\n<li><strong>Level\u2019s current calculation, and new cost information<\/strong> \u2013 While the help doesn\u2019t make this clear, by my tests, this choice will only recalculate items that have their own price formulas applied in <em>Maintain \u2013 Inventory Items<\/em>.<\/li>\n<li><strong>Level\u2019s default calculation<\/strong> \u2013 This choice will recalculate all selected items using the default formula for that price level, even if a different formula has been applied to an item in <em>Maintain \u2013 Inventory Items<\/em>.<\/li>\n<li><strong>Calculation selected below <\/strong>\u2013 Let\u2019s you select a formula to be used this time only.<\/li>\n<\/ul>\n<p>Click the <em>Recalc<\/em> button at the top of the window to calculate new prices.\u00a0 After calculating you can manually adjust prices if needed.\u00a0 If you decide not to keep the changes or want to start over, just close the windows and don\u2019t save the changes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pricing formulas can make it easy to changes prices for your whole inventory.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/503"}],"collection":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/comments?post=503"}],"version-history":[{"count":5,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/503\/revisions"}],"predecessor-version":[{"id":634,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/posts\/503\/revisions\/634"}],"wp:attachment":[{"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/media?parent=503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/categories?post=503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iqaccountingsolutions.com\/blog\/wp-json\/wp\/v2\/tags?post=503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}