Note: Price Formulas are applied in a hierarchical manner. If more than one price formula applies to a sales order, then Inform ERP will apply them according to a preconfigured hierarchy. See How multiple price formulas are assigned to a single order.
- Go to Sales > Pricing > Price Matrix.
- Choose at what levels you want to assign the price formula. For example, enter the Product Line and the Customer Category to set a price formula for a group of products within a Product Line when a customer from the specified category purchases the item.
- Product Number A product's reference code. If you set a price formula by product number, then it is applied only when that product is purchased.
- Price Group A price group's reference code. If you set a price formula by price group, then it is applied to all products within that price group.
- Product LineA product line's reference code. If you set a price formula by product line, then it is applied to all products within that product line.
- Customer Number An individual customer's code. A price formula set by customer number applies only when that customer makes a purchase. You may further narrow down the application of the price formula by ship to.
- Ship To Code Available only when a customer is selected. The shipping location of a customer purchase. A price formula assigned at the ship to level will be applied only to the selected customer's purchases being shipped to the selected location.
- Customer CategoryA customer category's reference code. If you set a price formula by customer category, it is applied to all customers within that category.
- Contract Number A price contract's reference code. If you set a price formula at the price contract level, then that formula applies to all customers assigned to that contract.
- Vendor The name of the vendor associated with the contract. If you choose a vendor, and then click Net Pricing, you will see all products under price contract associated with the vendor, as well as the price contract code. Choose this option to adjust prices and costs on all these products at once. Also used to assign a price formula to all products by a certain vendor
- Then click Search.
- Click the combination to which you want to assign a formula.
- On the Price Formula pop-up that appears, specify the pricing details for this combination. Note that this procedure describes setting only basic formula options; For help calculating other formulas using a Gross Profit Percentage, Multiplier, or Chain Discount, see the Advanced price formula options.
- If this is a new formula, then the first line will specify a Quantity of 1. You must set the price formula for single product before specifying multiple products.
- Choose whether to base the formula on Cost price, List price, or Net price. You can check these values in the Product Master. For example, select L1 to give a discount off the list price or select C1 to create a mark up on cost. Choose your base field and the press the Tab key.
- From the %/$ list. choose whether to apply the price formula based on a percentage of the cost or a fixed dollar amount. Press the Tab key.
- In the -/+ box, choose whether you want the formula to add or subtract from the base price, and then press the Tab key.
- In the Amount box, type the percentage or dollar amount that will be added to or subtracted from the base amount. Note that for percentages you do not need to enter the decimal equivalent.
- Quantity: 1
- Price C/L/N: L1
- %/$: %
- Amount: 10
- Click Save.
Under Price Matrix Results, you will see all of the available and existing pricing combinations for the parameters you entered. Blue combinations do not have any current price formulas entered. Green combinations have at least one current price formula entered, although you may edit the formula or add additional formulas for the combination.
The formula is effective immediately, unless you specified a different effective date.