Purchase Price List Creation
In Codejig ERP, you can create multiple price lists to eliminate the necessity to constantly update the single price list while changing prices over a course of time. Such approach also allows you to monitor price fluctuations and analyze your pricing tactic.
There are four possible approaches to price lists creation:
- Manually adding items to price lists
You can manually add items to newly created price lists and define pricing data for each item added. When you create the first and all the subsequent price lists this way, you have to add and define the item’s data manually each time. In addition, as a result of using this approach, your items will be distributed among different price lists. Thus, Codejig ERP will have to retrieve data about different items from different base price lists.
The price list is considered a base price list for an item if it contains the most recent item’s pricing data. Usually, it is a price list with the most recent date.
For example, there are two price lists A and B. The price list A is dated 12/12/2018 and includes items X, Y, Z. The price list B is dated 10/12/2018 and contains items X, Y, X1, Z1. The sales manager creates a sales orders for the items X, Y, X1 and Z1. The pricing data for the items X and Y will be retrieved from the price list A dated 12/12/2018 because although the price B also contains the items X and Y, their pricing data is outdated in comparison with the data defined in the more recent price list. However, the data for the items X1 and Z1 will be fetched from the price list B because these items are not defined in more recent price lists and the list B contains the most up-to-date pricing information about them.
- Automatically adding items to price lists
You can automatically add all items recorded in the system to price lists. As a result, you will receive one comprehensive price list including all the existing items as at that time. If you use this approach, you have to decide what kind of prices you want to display in the price list. You can either display sales prices or purchase prices for added items. If you base your price list on sales prices, items' pricing data will be retrieved from price lists containing the most recent pricing information about the item/items. If you decide to base your price list on purchase prices, items' pricing data will be retrieved from purchase quotations containing the most recent pricing information about the item/items.
If you use this approach to create the first price list in the system, it is recommended to base your price list on purchase prices as there no price lists from which pricing data can be retrieved. Otherwise, you will have to manually specify prices for added items. For the subsequent price lists based on sales prices, the items’ data will be copied from the base price lists, no matter whether those are selective price lists, to which items were added manually, or extensive lists including all the items. Codejig ERP will automatically copy data to the subsequent price lists following the same logic as described above - the data will be retrieved from the price lists containing the most recent pricing information about the item/items.
The prices for items as indicated in the base price lists or the base purchase quotations will be provided in the new price list together with the date when those prices were defined, and you cannot change them. However, you can set new sales prices for items.
You can either manually specify a new price for each item, and then a price change percentage (if the price list is based on sales prices) or a mark-up percentage (if the price list is based on purchase prices) will be worked out automatically for each item. Or you can specify a price change percentage or a mark-up percentage and apply it to all items in the list, then the new price will be automatically worked out for each item.
If certain items have been added to the system later on and are not present on any price lists or purchase quotations, they will be added to the price list for the first time, and you will have to define the pricing data for those items. The list will become the base price list for the newly added items as well as for all the other items transferred to it. As a result, Codejig ERP will be able to retrieve the most recent pricing data from one the most recent base price list.
- Adding items from a specific purchase quotation
If you use this approach, you select a particular purchase quotation and copy items together with their price details from the purchase quotation to the price list. Item’s cost as indicated in the quotation will be provided and you cannot change it. However, you can specify a sales price for this item. While setting a new sales price for an item, a mark-up will be also worked out as a percentage over the cost of the item. Or you can provide a mark-up percentage and apply it to all items, then the sales price will be automatically calculated for each item based on the cost of each item and the mark-up.
The subsequent price lists will also retrieve data from this price list if it appears to be the base one for certain items.
- Adding items from a specific price list
You can create new price lists based on existing ones. If you use this approach, you select a specific price list and copy items together with their price details from it to the new price list. Prices of copied items as indicated in the selected price list will be provided together with the date when they were set, and you cannot change them. However, you can specify sales prices for copied items. While setting a new sales price for an item, price change will be also worked out as a percentage over the original price of the item. Or you can provide a change percentage and apply it to all items, then the sales price will be automatically calculated for each item based on the price of each item and the change percentage.