The following article explains the different custom inventory selling price and discount methods in Connected.
- Types of Pricing and Discounts
- Activating Pricing and Discounts
- Links to different Pricing and Discount methods
Pricing and Discount Options in Connected
Connected uses a wide variety of methods to price products for customers. This along with various discounting methods allows for a multitude of prices for any product. At the same time, Connected can enforce a strict pricing strategy where only certain user privileges can change the price of a product when selling to a customer.
The following is a list of different pricing/discount options:
- Customer Item Info - This is the primary pricing mechanism when enabled.
This feature allows for:
- Customer specific item pricing (with or without effective and/or expiry dates) (Contract pricing)
- Customer part numbers and descriptions that differ from standard item description
- Specific Customer item lists used during data entry
- Custom Price Table - This gives a company the ability to set specific unit prices or percentage discounts per group per item.
- Price Matrix (Volume pricing discount) - The pricing matrix allows up to seven different levels of pricing for customers as well as five different quantity breaks.
- Line Item % Discount - Individual line items can have different % discounts applied to them when entering sales transactions.
- Customer % discount - A discount percentage is set at the customer level and applied to all items sold to that customer.
- Customer $ Discount - The discount amount is a dollar value off the unit price on a line item.
- Sales Order % Discount - A discount % can be applied to an entire order.
- Item Window selling price (aka list price). Typically the highest price and all custom pricing and discounts are based from this value.
The item pricing hierarchy for selling prices is as follows:
Activating Pricing and Discounts
- To activate Customer Item Info. Select A/R Defaults from the Company Setup Menu under File. Click on the Customers Tab and select the checkbox to enable Item Info Pricing and Customer Item Descriptions. (if applicable)
- To activate Custom Price Table. Select I/C Defaults from the Company Setup Menu under File. Select the Check box Use Price Tables, then select either % Discount or Price.
- To activate Price Matrix. Select I/C Defaults from the Company Setup Menu under File. Select the Check box Use Price Matrix.
- Discounting options are selected from the Invoices tab in the A/R Defaults window from the Company Setup Menu under File. Select from % Line Discount, % Customer Discount or $ Line Discount.
- Access to Pricing and discount options are enabled under User Privileges.
For further information on activating different pricing models see the links below.