Create Market Prices

Market Prices are used in conjunction with the Market Price Mode in the purchase process. Market prices are generally established for commodities using prices established by trade boards, but can also be used for any purchase price that is established on a date basis. Futures pricing can be established using market prices. Prior to creating market prices, the codes must be created in Admin>Business>General>Definitions>Market Codes.

Click here to review the process on using market prices with purchase orders.

1. Market No is set by default and defined in: Admin>Business>General>Definitions>Market Codes.
2. Future Price No indicates the commodity price period that is associated with the market price. It is also defined in: Admin> Business> General> Definitions> Market Codes.
3. Market Name displays a description of  the Market No name.

Market Products

1. Click to add a Product No to the market price table.
2. The Product No assigns the product to the market price table. There is validation that only those products can be purchased for the market table.

3. Product Name will default based on the selected Product No.

Market Prices

1. Click to add an Effective Date to the market price table.

2. Price represents the price per inventory quantity, in kg or lb. This will be the inventory price of the product based on the receive date of the product. The price will remain in effect until the next effective date is entered.

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