This allows you to change prices by a percentage or set prices to a specific amount. This may be done by an individual Manufacturer, a range of Part Numbers, or by Group Code.

You must run "Activate Preloaded Prices" (5.6.2.6) for the new prices to take effect.

You may prevent Price Code 99 (Warehouse Average Cost) from being updated when running this program. This is setup in “Inventory Setup” in SYSTEM MANAGEMENT (10.2.4.2 field 4).

There are four Statuses available:  Active, Inactive, Obsolete or All.

The Source Price Code is the base Price Code that you are using to calculate the new price from. You must enter a Source Price Code. The Price Code must be a "fixed" Price Code, not calculated from another Price Code.

You can create markups off of a Previous Markup without activating the original markup. At the Source Price Code field, enter a <P> after the Source Price Code (i.e. 5P for Price Code 5 Previous).  You will be prompted for the Effective Date of the previous markup. There is a Lookup available at the date prompt. Parts not found in the Preloaded file will not be updated by this markup.

When using Cost, remember that Price Code 98 is the Replacement Cost and Price Code 99 is the Warehouse (Average) Cost.  Price Code 99 is maintained by the system and should not be changed unless there is a special circumstance.

You may choose to have your Warehouse Cost  (Price Code 99) based on Average Cost or Replacement Cost.  If the "Replacement Cost Flag" is set to Yes in “Inventory Setup” in SYSTEM MANAGEMENT (10.2.4.2), then when the Warehouse Cost (Price Code 99) is affected, the Warehouse Cost will be overwritten to the new Replacement Cost (Price Code 98) instead of averaging. Price Code 99 (Warehouse Cost) will always be equal to Price Code 98 (Replacement Cost).

The Target Price Code is the Price Code that the Source Price Code is being calculated to. You have the ability to markup from one single Source Price Code to multiple Target Price Codes at one time. At the Target Price Code prompt, multiple Price Codes can be entered separated by a space. The Target Price Code may be the same as the Source Price Code. The Price Code must be a "fixed" Price Code, not calculated from another Price Code.

You can make the new price a markup by percentage or a fixed price. The calculations are Markup, not Gross Profit Margin. The percent sign (%) will automatically be entered.

Please refer to Markup Percentage Table in the General Help section in Procedures, for the most common Markup Percentages.

Examples of percent markup are:

The formula for calculating Markup Percent based on Gross Profit is:

       100

------------------------        =        Markup Percentage

(1 - Gross Profit)

Example:  If the Gross Profit is 35%, the Markup Percentage is 153.85.

    100

----------------        =        153.85%

  (1 - .35)

You can make the new price a fixed price or a markup by percentage. The Fixed Price is used to set prices for a manufacturer line that has the same prices (by unit).

The Automatic Round allows you to round the markup to the nearest $0.05 or $0.10. You have three options:

          

Round Up:  Enter a <U> and press <ENTER> to round up to the nearest 5 or 0.

Average Round: Average Rounding will round as follows:  1 -2 = 0;

3 - 4 = 5; 6 - 7 = 5; 8 - 9 = next highest 0. Enter an <A> and press <ENTER> to round to the nearest 5 or 0. 

Round Down: Enter a <D> and press <ENTER> to round down to the nearest 5 or 0.

The Effective Date will be saved in a list to be printed and updated.