Item Pricing and Price Lists

Item Pricing and Price Lists

Overview

This article explains how to set up, manage, and optimize your pricing structure within iVendNext.



1. Understanding Pricing Components

1.1 Price Lists

Function as containers for item prices with:

  • Regional pricing (e.g., New York vs. Houston)

  • Customer-specific pricing (e.g., wholesale accounts)



1.2 Item Prices

The actual selling/buying prices assigned to:


  • Individual items

  • Specific UOMs (unit, case, etc.)

  • Defined periods (for promotions)




2. Creating Price Lists

Step-by-Step Setup

  1. Navigate to: Home > Retail > Price List

  2. Click Add Price List

  3. Define:

    • Name (e.g., "East Coast Premium")

    • Currency

    • Valid From/To dates (optional)

  4. Save


Pro Tip: Create separate lists for:


  • Standard selling prices

  • Buying prices (cost)

  • Seasonal promotions



3. Assigning Item Prices

Method 1: From Item Master

  1. Open item record (e.g., WB-1001)

  2. Under Actions, select Add/Edit Item Prices

  3. Enter:

    • Price List (select from dropdown)

    • Rate (selling/buying price)

    • UOM (unit of measure)

  4. Save


Method 2: Bulk Import

Use Data Import Tool for:


  • Mass price updates

  • Seasonal changes

  • Chain-wide adjustments



4. Advanced Pricing Scenarios

4.1 Regional Pricing

Example: Same handbag at different stores


  1. Create price lists:

    • "NY Retail" ($225)

    • "TX Retail" ($180)

  2. Assign to respective stores' POS profiles


4.2 Customer-Specific Pricing

  1. Attach price list to customer record

  2. System auto-selects during checkout



4.3 Time-Based Pricing

  1. Set Valid From/To dates

  2. System automatically:

    • Activates promotional pricing

    • Reverts to standard pricing



5. Troubleshooting Common Issues

Here’s a quick look at some common issues you might run into.


5.1 Price Not Updating

Check:


  • Price list assignment to store/customer

  • Effective dates

  • UOM matches sale unit


7.2 Unexpected Discounts

Verify:


  • Active pricing rules

  • Customer-specific overrides

  • Manual discount permissions



    • Related Articles

    • Understanding Price Lists

      Overview This article will guide you through the concept of Price Lists, how to create and manage them, and how to link them to items and customers in iVendNext. What is a Price List? A Price List is a collection of item prices, either for selling, ...

    • Using Price Lists and Discounts

      Introduction Pricing and discounts are critical components of any business strategy, influencing customer satisfaction, sales volume, and profitability. iVendNext, a comprehensive ERP solution, offers robust tools for managing price lists and ...

    • Understanding and Managing Special Price Lists

      Overview Special Price Lists in iVendNext enable businesses to offer tailored pricing to specific customers, groups, or items, ensuring flexibility and competitiveness in the market. This guide explains how to create, manage, and apply Special Price ...

    • Creating a Standard Item

      Overview In iVendNext, a Standard Item is the most basic type of item you can create. It represents a standalone item without any variations in attributes such as size, color, batch, or serial number. This article provides a step-by-step guide to ...

    • Creating and Managing Item Prices

      Overview This article will guide you through the process of creating and managing Item Prices, linking them to Price Lists, and applying them to specific customers, suppliers, or batches. What are Item Prices? Item Prices in iVendNext are records ...