coreSTORE - Inventory: Pricing Tab

In this guide, we will cover the default fields available on your Inventory Pricing tab, providing a better understanding of the functionality and pricing options at the item level.

1. Pricing Tab

On the Pricing tab of your item setup, you can establish key pricing information such as Cost, List Price, Selling Price, and MAP (Minimum Advertised Price). If you’ve set up customer tiers, you'll also have the option to assign pricing based on those tiers. This is particularly useful if you have preferred clients with benefits, members, or wholesale customers.

2. Pricing Fields

In the first screenshot, you'll notice that Cost and Selling Price are required fields, as the system uses these to calculate your margin on sales. You also have the option to enable a Markup and Margin Calculator to assign your selling price based on your cost.

Other fields to note are:

Consignment Cost Percentage: If this is a consignment item, you would assign a cost percentage (this is what you pay the client for the consignment).

Consignment Fee: You can set a fee for consigned items.

Promo Price and Start Date: These fields allow you to establish special pricing and the date range for the promotion.

3. Pricing Cont.

Here, you’ll notice a few additional options for configuring the price of your product:

Price is % of Subtotal: This option allows you to add the item to a sale and calculate its selling price based on a percentage of the current subtotal.

Price is % of Previous Item: This allows you to set a percentage to calculate the price based on the item sold before it on the sales invoice.

Minimum Price: This sets the minimum price that your staff is allowed to sell the item for.

4. Pricing Cont.

You’ll also find options to establish pricing for variations if the product is a variation item.

Additionally, you have the following options:

Override Selling Price Regardless of Permissions: If checked, this allows anyone to change the selling price, even without permission.

Tax Settings at Item Level: Modify tax settings specifically for this item.

Cost as Percentage of Sale: Set the cost as a percentage of the sale for the product.

Commission Overrides: Customize commission rates for this item.

Allow Discounts: Enable or disable discounts on the item.

Establish Rental Rates: If this is a rental product, set rental rates here.

5. Change Log

At the bottom of the Pricing screen, you’ll find a Change Log that records any pricing updates made by employees, along with details of the changes.

Updated on: 11/26/2024