What price types can I use in the system? – Price management in the program
If you already have your products ready and your price management processes in place, this post can help you apply them in Key-Business.
If you are about to set up your price management processes at your company, we hope that you will be encouraged to use Key-Business to support your process ideas.
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Sales - Unit price
During product registration, use the Unit price field of the product datasheet to enter the net sales unit price.
The gross unit price will be calculated on the basis of the Sales tax rate for the given product.
Unit prices can change through time. If the change is of immediate effect, you can modify the value of the Unit price field of the product datasheet. If the change is known, but not taking effect yet, enter the effecitivity date and the new unit price on the Price multipliers tab of the product datasheet.
You wish to enter unit prices in foreign currencies? Use the given currency’s Unit price column on the Price multipliers tab of the product datasheet to specify unit prices in foreign currencies.
If you select Calculate price for intake, the system will take a profit margin basis for unit price and multiplier price change calculations, and will recalculate the unit price when a purchase is made to the given product. The profit margin can be set via the product datasheet.
While creating your sales vouchers, the price indicated here will be offered. It happens, if there are no better multiplier, list, or promo prices for a given partner or product. The suggested value can be overwritten.
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Sales – Price multipliers
Multiplier prices are calculated prices. The basis for the calculation is the Unit price on the product datasheet, and a percentage difference, as specified at Maintenance/Master data/Sales/Price multiplier.
Price multipliers can be set for a given partner, a partner group, a given product or a product group.
Use the product datasheet’s Price multipliers tab to view price multipliers available for a given product. Their values and changes can not be edited manually. They are calculated from effective unit prices.
Price multipliers can come in handy, if you wish to define your sales prices as percentage differences to list prices.
When creating sales vouchers, you will be offered with the best-fitting price for the given partner or product. You can overwrite the offered value.
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Sales – Price lists
Listed prices, independent of the unit price on the product datasheet, can be set manually. This manual setting can be performed on datasheets of such products, that have price lists available. See: Maintenance/Master data /Sales/Price list.
Price lists can be created for a given partner, a partner group, a given product or a product group.
Use the product datasheet’s Price lists tab to specify unit prices for such price lists, that are applicable to the given product. Listed price changes, by specifying effectivity dates, can be set on the product datasheet’s Price lists tab.
The use of price lists is ideal, if you are unable to determine variance from the price list by indicating a percentage, but you wish to associate custom prices to products instead.
When creating sales vouchers, you will be offered with the best-fitting price for the given partner or product. You can overwrite the offered value.
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Sales – Promo prices
Promo prices can not be entered on product datasheets. Go to Product management/Promo prices to set promo unit prices for a given promotion, period, product and quantity.
Promo prices can be specified for products and quantities. Promo prices can differ per partner in the promotion period, if they purchase the amount of goods required for the specific promo price.
When creating sales vouchers, you will be offered with the best-fitting price for the given partner or product. You can overwrite the offered value.
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Sales – Contract prices
Contracts and Contract prices can be registered at Partner management/ Contracts. You can define, under a given contract for a given partner, what contract unit price can be granted for what period, product and minimal purchase quantity.
Contract prices can be set for partners, products, and quantities. Contract prices are available during contract duration, when purchasing contractual quantities, or more.
When creating sales vouchers, you will be offered with the best-fitting price for the given partner or product. You can overwrite the offered value.
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Sales – Partner deduction/Surcharge
Go to the Finance tab of the partner datasheet, and use the Deduction/Surcharge field to enter a percentage value. When selling goods to your partner, available prices will include a unit price, calculated from the unit price with a given variance.
When creating your sales vouchers, the deduction/surcharge percentage, as set on the partner datasheet, can be modified in the header and at the given item.
Using deduction/surcharge is a great tool, if you, for example, do not wish to use a price multiplier to associate a price to your partner.
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Tracking, Inventory accounting – Last purchase price
Last purchase price, independent of the applied inventory value calculation method, gives information about the unit price of your last purchase. It can be checked on the datasheet of the given product. The system will offer this price when creating inbound vouchers (vendor invoice, pay-in voucher).
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Tracking, Inventory accounting – for FIFO inventory value calculation method
If you set FIFO at Maintenance/System settings/Inventory on hand as the inventory value calculation method to be applied, your inventory trends will be accounted on the basis of the FIFO (first in first out) method. In your inventory transactions, (intake, release, handover, production, disassembly), margins and inventory values will be calculated using applicable unit prices.
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Tracking, Inventory accounting – For Accounting price inventory value calculation method
When, at Maintenance/System settings/Inventory on hand, selecting Accounting price as the inventory value calculation method, you will be able to specify an accounting price on the datasheet of the product. The system will book your inventory transactions on an accounting price base. In your inventory transactions, (intake, release, handover, production, disassembly), margins and inventory values will be calculated using the accounting price.
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Tracking, inventory accounting – for Balanced average price inventory calculation method
When, at Maintenance/System settings/Inventory on hand, selecting Balanced average price as the inventory value calculation method, the system will book your inventory transactions on a balanced average price base. In your inventory transactions, (intake, release, handover, production, disassembly), margins and inventory values will be calculated using the applicable unit prices.
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Tracking, Inventory accounting – No inventory value calculation
When, at Maintenance/System settings/Inventory on hand, selecting No inventory value calculation as the inventory value calculation method, your inventory transactions will be booked as number of pieces only.
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Other – Related options
See: Maintenance/System settings/General/Pricing.
When selling goods in currencies other than the default currency, you can make available unit prices be calculated on the basis of the default currency unit prices and the daily exchange rate.
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Other – Price checker
Go to Product management/Price checker, and check if a given product is available at a given time, with a given quantity, and with a given unit price.
