From the Home tab: under links, select Processes.
|
Quantum VS Help: File Maintenance |
The Semi Automatic Forward Pricing process enables you to set a 'forward' selling and/or cost price for a range of products in advance of a specified date, which will then be applied on or after the 'effective date'.
You may choose whether to apply a 'forward price' for the product's:
Selling Price (i.e. the product's Gross Price applied by the relevant Price Band);
Base Cost (i.e. the product's buying cost used by the Normal, Alternate 1 or Alternate 2 Supplier);
Standard Cost (i.e. the product's fixed cost, set by you); or
Promotional Price.
Note: This process adds the new product prices/costs to the Forward Price file - see Understanding Price Changes And Unapplied Prices. The Apply Forward Prices process must then be run to apply the new prices/costs to the product records.
To run the Semi Automatic Forward Pricing process:
1. Either:
From the Home tab: under links, select Processes.
Or: From the Toolbar - Main Menu: select Tools > Show Processes.
OR: Click the appropriate module on the Mega Menu then - under processes - select the required Process.
The Processes record opens in a new tab, listing all Processes by Name and Category.
2. Use your mouse or [Tab] key to select the Semi Automatic Forward Pricing process:
3. In the Header Details area to the right you must enter the criteria for the process.
First, select one of the following Sequence options:
Product: to run the process on a range of products based on their Product Code; or
Section Order: to run the process on a range of products based on their Section Order code.
Note: The field below will then display as 'Product Code' or 'Section Order' depending on your chosen option.
4. In the Product Code or Section Order field below, enter the first Product code or Section Order code in the sequence of products you wish to apply the changes to.
Note: A Product Code is a unique code comprising up to eleven characters. For example: 0502GRA0005. Product Codes are entered on the Product Code field of the Product record (Main tab). For further details see Defining Product Codes And Descriptions.
Note: The Section Order code represents a sequence of up to ten alphanumeric characters or spaces, sometimes shown divided by a '/' (e.g. PAINT/00001). The first five characters represent the Section Name, which is entered on the Section Name field of the Product record (Main tab). The following five characters represent the Section Order Code which is entered on the Section Order Code field of the Product record (Main tab). If either is fewer than five characters in length, enter a space for each missing character.
If you don't know the Product Code you may enter it automatically using the Finder. To do this:
place your cursor in the Product Code field;
click [F3] to make Products active in the Finder;
in the Finder, locate the product you wish to add (see Finding Products); then
double-click on the product line in the Finder to add the Product Code.
5. In the Price Change Type field, select whether to apply forward price/cost changes to the Selling Price (i.e. the Gross Price applied by the relevant Price Band), the Supplier Base Cost, the Standard Cost or the Promotional Price of the selected Products.
6. Enter details in the remaining fields as described below, based on the selected Price Change Type:
Note: You may use your [Tab] key to move from one field to the next.
If you are updating the Selling Price of the specified products, enter details in the following fields:
|
Field |
Definition
|
|
Band / All Subsequent Bands
|
Select an appropriate Price Band; e.g. '3' means that the Gross Price recorded on Band 3 for each specified product will be updated.
Check the All Subsequent Bands field (below) to make the changes also apply to each subsequent Price Band.
To make the changes apply to every Price Band, enter '1' in the Band field and check the All Subsequent Bands field.
Note: The Semi Automatic Forward Pricing process cannot be used to update the Regulator Discount for a Price Band. It will update the Gross Price for the relevant Price Band(s) only. See Add Automatic Forward Prices. |
|
Round Type / Value
|
If you want the new Selling Price values to be rounded, select one of the following menu options:
Then select a Rounding Value (a value greater than zero up to 99.99) in the field to the right. For example, entering 1.00 will round the price up by/down by/to the nearest one pound (or alternative currency).
The default value is None - no rounding will be applied.
|
|
Effective Date
|
Enter the date on which the forward price/cost changes will become effective.
|
|
Increase Cost Price In Proportion
|
Check this field if you wish to increase the product's Base Cost in proportion to the increase in its Selling Price (with the additional option to update the Standard Cost - see below).
|
|
Base Cost Method
|
If you checked the Increase Cost Price In Proportion field (above), select the method for increasing the product's Base Cost, from the following options:
The Base Cost for the specified Supplier will therefore be updated in proportion to the specified increase in the Selling Price when the process is run.
Note: On clicking Write you will be given the option to also update the Standard Cost. |
|
For Supplier Account
|
If you selected 'Match To A Supplier' above, select the Supplier to be used.
If you don't know the Supplier Account Code you may enter it automatically using the Finder. To do this:
|
If you are updating the Supplier Base Cost of the specified products, enter details in the following fields:
|
Field |
Definition
|
|
Round Type / Value
|
If you want the new Selling Price values to be rounded, select one of the following menu options:
Then select a Rounding Value (a value greater than zero up to 99.99) in the field to the right. For example, entering 1.00 will round the price up by/down by/to the nearest one pound (or alternative currency).
The default value is None - no rounding will be applied.
Note: This option is available only if you select the Increase Selling Price In Proportion option below. |
|
Effective Date
|
Enter the date on which the forward price/cost changes will become effective.
|
|
Increase Selling Price In Proportion
|
Check this field if you wish to increase the product's Selling Price in proportion to the increase in its Supplier Base Cost.
|
|
Base Cost Method
|
Select the method for increasing the product's Supplier Base Cost, from the following options:
The Base Cost for the specified Supplier will therefore be updated when the process is run.
|
|
For Supplier Account
|
If you selected 'Match To A Supplier' above, select the Supplier to be used.
If you don't know the Supplier Account Code you may enter it automatically using the Finder. To do this:
|
If you are updating the Standard Cost of the specified products, enter details in the following fields:
|
Field |
Definition
|
|
Round Type / Value
|
If you want the new Selling Price values to be rounded, select one of the following menu options:
Then select a Rounding Value (a value greater than zero up to 99.99) in the field to the right. For example, entering 1.00 will round the price up by/down by/to the nearest one pound (or alternative currency).
The default value is None - no rounding will be applied.
Note: This option is available only if you select the Increase Selling Price In Proportion option below. |
|
Effective Date
|
Enter the date on which the forward price/cost changes will become effective.
|
|
Increase Selling Price In Proportion
|
Check this field if you wish to increase the product's Selling Price in proportion to the increase in its Standard Cost.
|
If you are updating the Promotional Price of the specified products, enter details in the following fields:
|
Field |
Definition
|
|
Promotional Price Start Date
|
Enter the date on which the new Promotional Price will become effective.
|
|
Promotional Price End Date
|
Enter the date on which the new Promotional Price will end.
|
7. Click Get Product. The first product in your product list - as specified in the Product Code/Section Order field above - is displayed.
8. Go through your product list and specify price/cost updates as necessary. See Making Price/Cost Changes To Your Products below.
On clicking Get Product (see step 7 above), the first product in your product list - as specified in the Product Code/Section Order field above - is displayed in the Product list below.
The Current column/field shows the product's current Selling Price. Also shown are the product's Base Cost, Standard Cost, UOM (unit of measure), Change % and GPM %:
You may now go through your product list and either (a) enter a new price/cost for the displayed product or (b) ignore the displayed product and move to the next product in the list.
Enter a new Price/Cost in the New column/field; then:
Click Write (as shown in the example above).
If you selected (a) the Price Change Type 'Base Cost', or (b) the Price Change Type 'Selling Price' with the Increase Cost Price In Proportion field checked, a message will display asking if you wish to replace the current Standard Cost with the new Buying Cost figure:
Click Yes to update the Standard Cost, or No to leave the Standard Cost at the current figure.
Note: The Standard Cost is set by you and is the product's fixed cost, used to calculate the gross profit margin on a sale. The Buying Cost is set by the Supplier and is the product's Base Cost (i.e. the Supplier's list price for the product) subject to any further buying/settlement discounts being offered by the Supplier.
On clicking Write (and then dealing with the Update Standard Cost dialogue as described above), any cost/price changes due to be made are added to the Changes list below, showing the old and new price and additional details relating to the product price/cost changes:
Note: New prices/costs for each product are added to the Forward Prices record and the Unapplied Prices record when you 'Write' them and run the process. The new prices/costs will then be applied automatically on the specified Effective Date. (You do not need to run the Apply Forward Prices process.)
When you click Write, the next product in the sequence is displayed automatically in the Product section (above). You may either update the price/cost using the procedure described above, or ignore it and move to the next product - see below.
To ignore (i.e. make no price/cost changes to) a product and move to the next product in the list, click Ignore.
You have the option of clicking the hyperlink in the Product Code column to view the Product Record. See Viewing A Product Record for further details.
From the Product Record you may then select Manual Pricing to view the product's price change history and/or view unapplied prices/costs for the product (i.e. prices/costs which are due to be applied but have not yet been applied) - see Viewing Unapplied Prices And Costs.
As more products get added to the Changes list you may wish to sort the list. To do this, click on a column header as appropriate to sort product price/cost changes by Price Type, Band or Product Code. Click 'Shift + column header' to sort by multiple column headers. Re-click a column header to reverse the sort order.
If a Forward Price record already exists for this product, for the selected Price Change Type, the Existing Forward Price Record link displays:
For example, say you are attempting to add a new Forward Price for the above product of £13.99, but another user has already added a new Forward Price for the same product, for the selected Price Change Type. You then have various options about what to do with the duplicate Forward Price record.
Click one (or more) of the following, depending on the action you wish to take:
Existing Forward Price Record: To view existing Forward Price/cost details and effective dates for this product and Price Change Type.
Overwrite: To overwrite the existing Forward Price record with the new record. (i.e. The existing Forward Price record will be overwritten. The Unapplied Prices record will be written, or rewritten if it already exists.)
Merge: To merge the new and the existing Forward Price records into one unique record. (i.e. The existing Forward Price record will be rewritten, adding the latest price information but otherwise retaining existing data. The Unapplied Prices record will be written, or rewritten if it already exists.)
Ignore: To ignore any changes and move to the next product in the sequence.
You may view price change history for the current product by clicking the Existing Price Change History link:
This opens the Price Change History window:
Price change history is displayed for the selected product.
If there are a lot of results, you may wish to filter out results. To do this, click Advanced and then deselect certain filter fields below. For example, deselect 'Promotional Price' to remove all Promotional Price-related price changes.
Click OK to close the window.
When you have finished updating product prices/costs as you wish, click Start on the Toolbar - Sub Menu to begin running the Semi Automatic Forward Pricing process.
The price/cost changes will be added to the Forward Price record.
At this point the new product prices/costs have been added to the Forward Price file but have not yet been applied to the product records.
To apply the price/cost updates you will need to run the Apply Forward Prices Process. The Forward Prices will then be applied to each product record on the appropriate Effective Date.
Note: To view unapplied prices - i.e. prices/costs which have been added to the Forward Price Record but not yet applied to the product record - see Viewing Unapplied Prices For A Product.
NEXT: Stock Control Processes
