Product Accounts - Prices & Status

Product Accounts - Prices & Status

• Product Type: Select a Product Type (accessed by clicking the arrow to the right of the field or pressing F3 and choosing from the list displayed) ensures that:

• Active Products appear in reports and can be used in transactions.

• Inactive Products appear in reports and statements but cannot be used in transactions.

• Product Title: Enter all product name details as they appear on invoices and statements, e.g.'Pentium Computer. This field can be up to 35 characters in length. Having the information at hand when you start saves time searching for invoices later.

• Product Code: Enter a product code or part number for each product up to 25 characters or digits. This could be a unique code you use for your own identification or you might want to use your supplier's code.

• Barcode Number: Some products have barcodes printed on the packaging, therefore you can enter this barcode and perform a search on this code. If you use a barcode scanner, then you can scan the barcode, and the product will be selected.** Note:** you can enter a barcode against each unit of measure (see pricing below)

• Remarks: Enter any remark you want to record for the supplier.

• Lead Time in Days: Enter the number of days it takes to obtain this particular product from the wholesalers or manufacturer, when you place an order with that supplier.

• Minimum Quantity: The figure in this field specifies that stock should be re-ordered when stock levels drop to this amount.

• Maximum Quantity: The figure in this field specifies that a warning should be returned if stock quantities rise to this level. In order to minimise the cost of holding stock, set an economic maximum level of stock.

• Stock Control Unit

Enter the unit of measure that represents the quantity on hand, such as 'Each'. If you select 'Each' and you have 10 on hand, then this effectively means you have 10 units of product. If you select 'Box' and you have 10 on hand, then this means you have 10 Boxes.

• Pricing:

  

Image Description

A pricing grid/table showing product price levels. The columns are: Per (unit basis), Unit, Retail, Wholesale, Trade, Government, Price 5, Price 6, Price 7, and Price 8. A single row is shown with "Each" as the unit and value "1", with prices of 250.00 (Retail), 220.00 (Wholesale), 240.00 (Trade), 228.00 (Government), and 0.00 for Price 5 through Price 8. A Barcode column is also visible at the far right.

The pricing tool

The parameters of Price 1, Price 2, Price 3, up to Price 8, allow you to set a default price for a particular product for each customer group. You can enter up to four units of measure for the sale of this product and set a separate price for each quantity break. For example, you might sell a box of toner cartridges for a different price to an individual toner cartridge.

The first line in the pricing grid is the default unit of measure of that product, i.e. if you are selling the product in individual units type Each, and the Quantity on Hand displays the quantity in individual units. If the second unit of measure is a box of 10 units, then each time you sell a box the quantity on hand reduces by 10, which is the number of units contained in that box.

Similarly, if the first line of the unit of measure is a box which contains ten units, then the quantity on hand will be the number of boxes on hand, e.g. if a box contains ten units, and the first unit of measure is box, and you purchase two boxes, then the quantity on hand will equal two boxes.

When you are purchasing products, a drop-down list of the units entered above will appear for selection. The default unit of measure will be the highest unit of measure, for example, if your units of measure are Each (single unit), Box (10 units),Carton (20 units), then when you select this product in the purchase transactions, the default unit of measure for purchasing will be Carton. You can then change this to Each or Box.

• Lead Time in Days: Enter the number of days it takes to obtain this particular product from the wholesaler or manufacturer, when you place an order with that supplier.

• Minimum Quantity: The figure in this field specifies that stock should be re-ordered when stock levels drop to this amount.

• Maximum Quantity: The figure in this field specifies that a warning should be returned if stock quantities rise to this level. In order to minimise the cost of holding stock, set an economic maximum level of stock. To assign price scales, see Special Prices and Discounts.

• Enter & Show Prices Including Tax: Check this box to see the tax added on to the sale price of the product.

• Margins: Click the Margins button to view the current product margins. If you change prices within this screen it will display the new margin relevant to that price.