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An item can be priced based on a percentage of the Average or Last cost carried in the Item Master File record. Creating a Customer Contract Item File record and setting it up to reference the type of ‘cost’ chosen can accomplish this. The percentage could be negative or positive: positive resulting in a discount from the selected cost; negative resulting in a markup from specified cost. To set up a record, go to:
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Order Processing (Module 6)
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Customer Contract Item File (Task 21)
- Add New Contract Record (Sub-task 1)
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Customer Contract Item File (Task 21)
The setup is very similar to a regular contract item setup, except for the following:
- Field 5: Type ($/%/T) This needs to be set to %. It tells the software to compute a percentage based on the value entered in field 6.
- Field 6: Price / Disc This can be set to a positive or negative value: positive if a discount below cost is needed; negative if a markup from the cost is needed.
- Field 7: Price level This can be set to A (for Average) or L (for Last) depending on which cost is chosen as the basis for the pricing.
NOTE: This scheme requires the costs carried in the Item Master File for the items are accurate. If the costs carried for the items are not accurate, the resulting pricing will also be inaccurate.
Below is an example Contract record, with the pertinent fields, set to provide a 10% mark-up from the Average cost for the customer when any item in Product Code #1 is purchased.
01. Customer #: 62727 David’s Emporium
02. Alt ship-to#: 00000
03. Contract Key: 1 Product Code = Tool
04. Cust/item#
05. Type ($/%/T): %
06. Price / Disc: -10.00
07. Price level : A
If the percentage in Price /Disc field (#6) was positive, the price for items in Product Code 1 would be 10% below the average cost.