The Price Matrix

Modified on Thu, 13 May 2021 at 11:04 AM

The pricing matrix allows up to seven different levels.  Each level can be assigned to a single or group of customers, with Level 1, being the default and typically the list price. Each price level can have five different quantity breaks for further price discounts.  

When entering an order or invoice, Connected will automatically display the price of the items being invoiced according to the price level of the customer.

Activate Price Matrix

The price matrix is turned on by selecting the Use Price Matrix option in the I/C Default setup window, as shown below.

Setting up a Price Matrix for a Single Item

The following explains how to update the Price Matrix for an individual inventory items.

1) Locate the Item in the Inventory Items window using the Find command or from a list in the Inventory Query window.

2)Select the Price Matrix tab and click Modify, as shown below.

3) Enter the Discount % for each price level in the boxes numbered from one to seven on the left hand side of the window.  Price Level: 1 usually has a zero percent discount, as it is the normal selling price (aka List Price).

4) Enter the Discount % for each quantity break in the top of the window. Price Level: 1 usually has a zero percent discount.

5) Enter the quantity breaks in the From Qty and To Qty fields. After a number is entered in the To field, the same number plus one appears in the next From field.

6) Click the Recalculate Matrix button to calculate all the prices for each level and quantity break.  When this is done, the following message will appear:

TIP: A price can also be entered into any sell without using the recalculation, as shown below.

7) Press ENTER or click the checkmark icon to save.

Recalculating the Price Matrix for Multiple Items

The Price Matrix can be recalculated for a large group of items at once.  For example, if your cost increased by 5% for parts purchased from a specific vendor, a 5% price increase can be applied to all parts that have that vendor designated.

WARNING: It is recommended that a backup of your Connected datafile is made before performing these changes.

How to Manually Back Up a Connected on Demand data file

Creating a backup using the ODBA Application

To recalculate the Price Matrix for a group of items:

1) Select Recalculate Price Matrix from the Connected Desktop window or the I/C Menu.

2) The following Price Matrix Recalculation window appears:

3) Enter a Selling Price Factor. A factor greater than 1 will increase the price, less than one will reduce the price, and equal to one will not change price.

4) Select what the price should be Factored From.  Choose from Last PO Price, Current Cost, Purchase Cost, or Selling Price.

NOTE: The default selection is "Purchase Cost".  In most cases, the factor for a price increase is "Selling Price".

5) Enter an Item Selection. Choose from Items with Analysis Code and enter a valid code, Items with Vendors Code and enter a code for the primary vendor, or Item Range and enter a range.

6) Choose the levels to change by selecting or deselecting the check boxes.  The default is to change all levels.

7) Enter the Change % Discount, if applicable.  The checkbox must be selected to enter percentage changes.

8) Select the Recalculate Quantity Breaks checkbox if necessary.  Enter the quantity changes to be reflected in the recalculation.  The following shows a sample screen before the recalculation is requested to increase the selling price by 5% for an item range.

9) Click the Proceed with Recalculation button or press ENTER to begin recalculation.

10) When completed, the following OK message will appear:

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