Price Level Vs Formula

How to configure Price Level Vs Formula?

Price Level Formula

To work with Price Level Formula, you must have created price levels in the Price level Master. The major advantage of using price level formula is that you can customize time period, that is you can set validity for the price level. Another advantage is that any price level from the price level Master can be set as the Base price level. The other price levels except the one set as the base price level will be listed in the screen. Now, you can set the values for these price levels.

The third advantage is that any price level from the price level master (except the one set as the Base) can be used as the default price level.

After configuring the price level formula, you can map the formula to any item in the Item Master itself so that the default price level is applied automatically at the time of billing. For this, enable the configuration:

Tools >> Configuration >> Inventory >> Price level settings >> Enable default price levels.

This means, the default price level set is applied to all the bills with customers, without customers and quick add customers.

Note: You can also save the price level formula without default price level. In such a case, the price level is not applied and the original price of the item remains the same. You need to select the price level by invoking the price level key.

If you want to map the formula to a number of items in a single shot, you can use Price level formula Vs items. For details on price level formula vs items, click here

Price Level Formula Configuration

1. Click Inventory >> Price Level >> Price Level Formula. The Price Level Formula Master screen is displayed.
2. In the Formula Name field, enter the name for the price level formula.
3. In the From Date and To date fields, enter the dates. The price level formula configured is applicable only for the specified dates.
4. In the Base Price Level field, press Enter. The Price level LOV is displayed. Select the price level from this LOV.

Note: This LOV displays the price levels that were created in the Price Level Master. For illustration, whole sale is selected as the Base Price Level.

 

5. In the Default Price Level field, press Enter. The price level LOV is displayed. Select the price level from this LOV.

 

For illustration, BASE is selected as the Default Price Level.

 

6. In the Based on drop-down field, select from the following options-
  • Selling Price
  • MRP
  • Purchase Price
  • Landing Cost
  • Margin(Selling-Landing cost)
  • Special Rate (From Item Master)
7. In the Value field, press A for Amount and P for percentage
8. In the Semi Whole Sale, Seasonal and BASE fields, enter the values.
9. In the Roundoff field, press N for Near, L for Lower, U for Upper and O for None.
10. In the Roundoff Value field, select the round-off value.
In the billing screen, the selling price of the item after applying the price level is automatically rounded off, if round-off is selected.
11. Click Save or press F6 to save the Price Level Formula Master.

Similarly, you can create more formulae.

To delete a formula, press F4 [Change] key. The price level formula LOV is displayed. Select the formula and press F9 [Delete] key. A confirmation message is displayed to delete the formula. Click Yes and the formula is deleted. The formula once deleted can not be reverted back

Mapping in Item Master

1. Click Inventory >> Masters >> Items. The Item Master screen is displayed.

2. Press F4 [Edit] key. The item LOV is displayed. Select the item from the LOV.

 

3. Click Sales tab.

 

4. In the Price Level Formula field, press Enter. The Formula LOV is displayed. Select the formula from the LOV.

 

6. Click Save or press F6 to save the Item Master.
Now, the price level formula is mapped to this item. When the item is selected in the billing screen, the price level is applied automatically.

Illustration - In the billing screen

Enable the configuration:
Tools >> Configuration >> Inventory >> Price level settings >> Enable default price levels.

1. Click Sales >> Sales bill. The bill entry screen is displayed.
2. Select the item from the item LOV.
3. In the Qty column, enter the quantity and press Enter. The default price level is applied automatically. 
 

Now, the selling price of the item is changed from 100 to 90 as the value set for default price level (BASE) is -10 from selling price. 

Note: To switch from one price level to another price level, you need to de-activate the current price level using the same SHIFT + F2 key and proceed to apply another price level.

Applying Whole sale Price Level

 

 

Now, the selling price of the item is changed from 100 to 70 as the value set for Whole sale is -30 which is shown in the below image.

 

The Price type for the Whole-sale price level is based on the price type selected in the Based on field of the Price Level formula screen.

For Price level formula Vs items, click here

For Reports, click here

For FAQs, click here

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