Changing prices

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The management of prices is essential for proper functioning of any business organization. Several advanced management mechanisms of prices have been made in Microinvest Warehouse Pro.

Contents

Direct Change of Prices

The most simple and easy technology to change the prices is available via the Edit menu/Administration/Change prices. A table with all the goods and the prices of goods is being displayed and is enabled for editing, having in mind that the values are entered manually. The advantage of this technology is the ability to correct any price for each commodity. Change can cover each commodity and each price category.

Income and Price Change

The most convenient technology to change the price is at the very introduction of the income on the commodity. In the window for revenue there is an incoming price and the relevant selling price for that commodity. This way, even in the very introduction of the revenue, the selling price can be formed. Here is an example:

  • The supply of Coca-Cola is entered;
  • The purchase price is entered, for example 0.80 EUR;
  • The selling price is completed, for example 1.20 EUR;
  • When the revenue is recorded, the program automatically calculates the average delivery price and the selling price of that particular commodity.

Price Groups

The items that enter Microinvest Warehouse Pro have different prices, divided in different price groups. Price Groups can be edited independently through the Edit menu/Administration/Change prices. Changing the value in one group does not affect prices in other groups.

Revaluation

Powerful lever for change in prices is implemented by module "Revaluation". This module allows group handling prices for all goods (or for all items in a group); the conversion is based on a mathematical formula. An example of such processing is:

  • The selling price is 30% higher than the purchase price;
  • Prices in price group 2 are 10 EUR higher than the price in group 1;
  • The wholesale price is 5% lower than the retail price.
  • The technology of the work lies in the choice of price group and the mathematical operation. A factor or value of the transaction is entered and it applies to all goods that fall within the selected filter.

Last Sale Price

Microinvest Warehouse Pro allows working with individual prices for each customer. Through virtual price band called "Last Sale Price", each client works on its own price of goods. This is one example:

  • In the cardboard of Client 1, in a price group is shown the retail price, in cardboard of Client 2 is shown - the last sale price;
  • The price of an item is 100EUR;
  • Client 1 buys the item and pays 100EUR;
  • Client 2 buys the item, but the operator dynamically changes the price to 80EUR;
  • For the next sale to Client 1 the price will be 100 EUR, which is the standard price;
  • For the next sale to Client 2 the price will be 80 EUR, which was its individual price in the previous operation.

Scheme for Management of Prices

From the menu Edit/Administration/Change prices by pressing the button "Scheme" a graphic for way of managing the prices is visualized. This scheme is applied to one or more selected items, allowing the addition or subtraction of a percentage to each of the prices and to the price groups. The advantage of this technology is the clear visualization of the surcharge and accurate representation of the model of the prices.

Price Rules

Microinvest Warehouse Pro offers dynamic technology for determining the prices in module Price Rules. Based on different criteria, the program can determine what price to perform for a particular operation. This feature is convenient when defining relationships with partners, because it allows the introduction of specific rules, such as discounts on certain turnover thresholds, cumulative discounts and more.

Clients’ Discounts in Percentage

Changing of the price could be done by entering a percentage discount in the client's cardboard. In this way, when choosing a client, the software automatically sets the price and the discount rate. The result is an individual price of the item minus a percentage discount.

Rounding Prices

Microinvest Warehouse Pro provides two algorithms for optimization of the prices:

  1. Creating psychologically attractive prices;
  2. Rounding prices to the respective currency – this is a mechanism that is defined separately for each country and allows prices to observe the generally accepted principles for establishing prices. An example for this is Russia, where for the most ofthe prices have no coins (kopeikas) and are rounded to an integer. This is done by the Edit menu/Administration/Revaluation and pressing the "Curvature".

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