Purpose
The ‘Product Currency Prices’ function is used to specify prices for a Product in a foreign currency in Sales Order Entry. In order for the price to be picked up from this ‘Product Currency Prices’ list instead of the normal ‘local currency’ price list, you must enable the System Options so that Sales Order Entry will use the ‘Currency Price List’.
Note that Customers can be setup with a default Currency that is then picked during order entry. An order in a given currency would then look for the pricing setup in this function.
Data Input
Step 1 – Product
Product
Select the Product for which you want to establish prices and costs. It must already exist in the system. If you have set up a ‘Model’ product, the system also requests you to select the Size you want to enter/adjust pricing for. Note that any Product marked with a bar transaction flag will not be available for use in this function.
Currency
Select a valid Currency for which you want to enter pricing for the selected Product. All costs and prices displayed/entered in this function should be in the selected Currency.
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Step 2 – Costs
Select to use either ‘Standard Cost’ or ‘Replacement Cost’ to use as the cost for margin/mark-up purposes for this currency pricing.
Margin %
Enter the Margin percentage to use for this item. This factor is used in cost-change reporting procedures to show the desired and actual margin in the price of an item.
Replacement Cost
Enter the ‘Replacement Cost’ value in stock units. The cost is expressed in dollars per stock unit with up to four decimal places. It will also be shown in Purchase and Sales Units of Measure based on any conversion held on the Product.
Standard Cost
If required, enter the ‘Standard Cost’ in terms of the Stock Unit of the item. The cost is expressed in dollars per stock unit with up to four decimal places. It will also be shown in Purchase and Sales Units of Measure based on any conversion held on the Product.
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Step 3 – Prices
Prices entered here are used as the default selling price in Sales Order Entry. The selling price of a sales item depends on customer settings and follows a hierarchical choice, which you can see details on here.
You can enter prices for up to five ‘Price Levels’. These levels are established and defined in System Options – where you set how many price levels you want, and give each level a name to suit your needs. Each price is entered in Sales Units in values up to 4 decimal places.
‘Quantity Price Breaks’ can be entered allowing discounts to be given to customers buying in larger quantities in this currency. There is no limit to the number of quantity price breaks you can enter. With quantity based price breaks the 1st quantity is ignored and the 1st price applies to ALL quantities up to the 2nd quantity/price entry.
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