The Price Master is essentially a price list that is assigned to the ship-to customer. The price list can have multiple products that may have different add-ons and taxes as required for pricing. Price can be defined as a unit price or a cost-plus price. The price list can optionally have an expiration date. This document outlines the process related to establishing a price list and linking the price master to a customer.
If a customer uses base pricing methods, view the Base Price List document. This option is used when a base price is assigned to a product or add-on and when the base price is changed, all of the base prices will be modified with the new effective date.
Prior to creating a Price Master, the following items should be created:
The following options are outlined in the Price Master List:
The price master must be created with an effective date before it can be assigned to a customer. There are three sections to complete in the price master:
This section outlines the process related to creating the master price list that will be linked to the customer. The Index or header tab contains the base data for creating a new master price list
In General>Sales, select Price Master.
In the Sales
Price Master index, click 
to create a new sales price master.
Click on the Price Master Index tab.
In the Price Master No field, enter a unique number that identifies the price master list (alphanumeric, max 20 characters).
In the Price Master Name field, enter a description to identify the price list (alphanumeric, max 50 characters).
From the Currency No drop-down menu, select a currency for the price list.
Currency Name defaults from Currency No and displays a description of the currency.
Base Price List indicates whether the price list is a base price list. To view the process related to Base Price Lists, go to the Base Price document.
Assigned Base Price List is an optional field to select the assigned base price list. Validation will be required on this field to ensure that the option is set to ‘Not set’ for a base price table. This field can only be selected and a code entered when the Base Price List flag is unchecked. The process for assigning base price lists is outlined in the Base Price document.
Assigned Base Price List Description displays a description of the assigned base price list.
The Effective Date grid contains the details relating to price date and expiration date. Once the details are defined on the initial effective date for the price master, the details are copied when a new effective date is added where the required price details can be modified.
Enter a new effective Price Date to establish the starting date for the price list. Orders with a ship date equal to or later than the current date will assume the defined price.
Optionally, an Expiration Date can be entered to define the expiration date of the price list. Once the expiration date is met, the prices will not longer default to the sales order unless a subsequent price date is defined.
The Price Master Details contain the prices for the sales skus, add-ons, commissions and taxes if applicable. The sales skus and add-ons must be defined prior to creating the price master list.
The Details grid contains the pricing details for the products associated with the price master list.
Click in the required effective date to add products or modify prices.
From Sales
SKU No, click to select the required sales
sku for the price master list.
Sales SKU Name defaults and displays the name of the selected sales sku.
Inventory Units displays the inventory units for the sales sku as defined on the product.
Unit Description describes the unit of measure that the product is sold as defined on the sales sku.
From Price Type, select the required price for the sales sku. Options available are:
Unit Price: Price is entered at the value that the product will be sold.
Cost + Amount: Used in a cost plus price definition. If this mode is selected, the amount over the cost price will be entered in the Price field. For example, if the product cost is $5.00 and $0.50 is entered in the Price field, the product will be sold at $5.50.
Cost + Percent: Used in cost plus price definition. If this mode is selected, the percent over the cost price will be entered in the Price field. For example, if the product cost is $5.00 and 5.00 is entered in the Price field, the product will be sold at $5.25.
Enter the Price for the sales sku. The price should be entered based on the sales sku unit. For example, if the product is sold in boxes of 100 inventory units, the selling price of the box should be entered.
Taxable identifies if the item is taxable or non-taxable when the item is purchased. Tax codes must be assigned to the sales order for the taxes to be calculated. Select the flag if the item is taxable.
The Base Price is derived as selected if the price list is assigned to a base price list. This option is not applicable for a customer price list which is not assigned to a Base Price List.
The Add On Edit Mode determines where the add-ons can be added or deleted. This field is required prior to the price master being saved. Further details are defined in the add-ons to determine which add-ons are selected to default to orders. (v7.26+)
Not Set - default value which must be modified prior to save.
Price Master - the add-ons are defined in the price master and cannot be added or deleted on the sales order.
Order - the add-ons can be selected to default to the order and then added or deleted as required.
Within the child grid of the Sales SKU No tab, there are additional tabs that default from the sales sku. With the exception of taxes, nothing else can be added to the sales sku in this screen.
Add-ons must be defined on the sales sku to transfer to the price master. Rates are entered on this screen.
Transaction Basis is a read-only field that defaults from the sales sku, and determines how the add-on amount is calculated on orders. Available options are: Per Unit, Percentage, Flat Rate, or Free Percentage.
Payment Type is a read-only field that defaults from the sales sku, and determines when the add-on payment is made.
Payee Type is a read-only field that defaults from the sales sku, and identifies the type of entity with which the add-on is associated. Available options are: Vendor, Customer, Employee, or Cost Center.
Transaction Entity ID is a read-only field that defaults from the sales sku, and determines the entity that will be invoiced for the add-on charge. If left blank, the system assumes the sales order customer.
The Commissions tab allows the user to define a commission rate that is payable to an employee or other party. The commission will be accrued at invoice. The commission must be assigned to the sales sku for the product prior to being defined on a price master list.
AddOn No displays the code of the add-on that has been transferred from the sales sku.
Transaction Basis is a read-only field that defaults from the sales sku, and determines how the add-on amount is calculated on orders. Available options are: Per Unit, Percentage, Flat Rate, or Free Percentage.
Payment Type is a read-only field that defaults from the sales sku, and determines when the add-on payment is made.
Payee Type is a read-only field that defaults from the sales sku, and identifies the type of entity with which the add-on is associated. Available options are: Vendor, Customer, Employee, or Cost Center.
Transaction Entity ID is a read-only field that either defaults from the sales sku or is defined in the price list, and determines the entity that will be invoiced for the add-on charge. If left blank, the system assumes the sales order customer.
Currency No is only used for commission calculations. All other add-ons are processed in the same currency as the transaction. Select the required currency type from the drop-down menu.
Currency Name defaults from Currency No and displays the description for the selected currency.
Taxable transfers from the sales sku and determines if the add-on is taxable or non-taxable when the item is purchased. Tax codes must be added to the tax tab on the price list or in the order for taxes to calculate.
Enter the Rate for the add-on. This rate will transfer to the order. Unit rates should be entered based on the sales sku units.
The Selected flag is checked if the add-on is required for the price master list. This field is no longer available in v7.26+ as it has been replaced by the Add On Edit Mode and Requirement Type.
Taxes can optionally be added to the price master list. Taxes should only be added to the price list if the supply is being sold to customers within the same tax zones. The taxable flag needs to be selected on the sales sku for the taxes to be applied.
to select the Tax
No for the applicable tax.
Once the price list is completed and saved, the next step is to assign a price list to the required customer (s). When creating the sales order, the system will first look to see if there is a contract for the product assigned to the bill-to customer. If there is no contract in existence, the system will determine if there is a price list assigned to the ship-to customer. If that validation is not in place, the price on the order will need to be manually entered based on the options available on the sales sku.
This feature is used to update only the add-on prices for a selected price master list. Once the prices are updated, the existing orders must be updated using Sales Orders>Options>Update Prices from Price Master.
** Note: This process only updates the prices
within the price master list. The Update
Prices from Price Master option must be used to update unapproved
orders with the most recent prices.
The Add New Effective Date option allows the user to create a new effective date for a price master list and increase or decrease prices by an amount or percentage.
* Note: This process only updates the prices within the price master list. The Update Prices from Price Master option must be used to update unapproved orders with the most recent prices.
This process will mark all add-ons in the price master list as selected. This option will only work for versions prior to v7.26 as the 'Selected' option has been replaced by Add On Price Mode and Requirement Type options.
* Note: This process only updates the prices within the price master list. The Update Prices from Price Master option must be used to update unapproved orders with the most recent prices.
The Update Prices from Price Master is currently located in General>Sales>Orders. This process must be run each time that price changes are made to the price master list. Only orders that are not in approved status can be updated. Orders will be updated based on the effective date in the price master and the ship date in the sales order.
