Setting item prices

You can set the default selling prices of the items you sell in the Set Item Prices window. Then, if required, you can change the prices at the point of sale, which overrides the default prices for that sale only.

Average Cost and Last Cost

Average Cost is calculated as the total cost of an item (the total amount you have paid to purchase the item or the cost entered when you transferred the item into inventory) divided by the number of units of that item you have on hand. Last Cost is the most recent purchase price for the item.

To change the price of an item

1	Go to the Inventory command centre and click Set Item Prices. The Set Item Prices window appears.

If an item is not listed, it means that you haven’t selected the I Sell This Item option on the Profile tab of the Item Information window.

2	Click in the Current Price column of an item and enter a new price. Do this for each item price you want to change.

You can enter unit prices with up to four decimal places. On your invoices, the unit price is multiplied by the quantity sold and the result is rounded to two decimal places.

3

Click OK.

To update the prices of multiple items at once

1	Go to the Inventory command centre and click Set Item Prices. The Set Item Prices window appears.

2	Click the select column () next to the items that require a price update.

3	Click Shortcuts. The Pricing Shortcuts window appears.

4	Indicate how you want the price rounded, the basis for calculating the price, and so on. For example, if you want to mark up the items’ prices by 10%, select the Percent Markup option, and type 10 in the adjacent field.

5	If you want to:

■	update the items you selected in step 2, click Update √ Items Only

■	update the prices of all items, click Update All Items.

Related topics

■	Creating items

■	Creating custom price levels

■	Average Cost, Last Cost, and Standard Cost