Retail Price Formulas

File Maintenance Help for NextGen® Enterprise 8

Retail Price Formulas

The Retail Price Formula master file enables you to easily price your inventory en masse instead of opening each master record individually. The retail price is calculated from a formula based on markup percentages, add-ons, and rounding. You can set up a default retail price or set up pricing by location. To access the Retail Price Formula master file: From the Master Files - Optical Management list, select Retail Price Formula. The Formula Maintenance window opens. Set Up a Default Formula You can set up the default formula to set the retail pricing. Set Up Formulas with Location(s) Apply a Formula Parent topic: Master Files - System

File Maintenance Help for NextGen® Enterprise

Set Up a Default Formula

The Default Formula tab enables you to set up retail pricing that is used as default pricing for the locations in the practice that do not have pricing set up specifically for them. On the Formula Maintenance window, select the Default Formula tab, if not already selected. Select open menu and then select New. The Default Formula window opens. Enter value in one of the following. Markup % Addon Mask Fixed Price Round Price To hide the item in the list, select the Hide check box. Select Next to add another item or select OK to return to the Formula Maintenance window. Note: If you are editing an item, the Next button does not appear. To include hidden items in the master file list, select the Include Hidden Items check box. If you do not select this option, the hidden items cannot be accessed. Default Formula Description The Default Formula tab enables you to set up the default formula used for retail pricing. Parent topic: Retail Price Formulas

File Maintenance Help for NextGen® Enterprise 8

Set Up a Default Formula

The Default Formula tab enables you to set up retail pricing that is used as default pricing for the locations in the practice that do not have pricing set up specifically for them. On the Formula Maintenance window, select the Default Formula tab, if not already selected. Select open menu and then select New. The Default Formula window opens. Enter value in one of the following. Markup % Addon Mask Fixed Price Round Price To hide the item in the list, select the Hide check box. Select Next to add another item or select OK to return to the Formula Maintenance window. Note: If you are editing an item, the Next button does not appear. To include hidden items in the master file list, select the Include Hidden Items check box. If you do not select this option, the hidden items cannot be accessed. Default Formula Description The Default Formula tab enables you to set up the default formula used for retail pricing. Parent topic: Retail Price Formulas

File Maintenance Help for NextGen® Enterprise

Apply a Formula

After you set up a formula in the Retail Price Formula master file, you can apply the formula to your inventory in the File Maintenance application. The formula is applied in the following manner to all items that meet the formula criteria: Retail Price = Mask + (Round (Catalog Price + (Catalog Price * (Markup / 100)) + Addon)) Example: $209.99 = $9.99 + (None ($50.00 + ($50.00 * (200 / 100)) + $50.00)) To apply a formula in the File Maintenance application: Select the formula from the Default Formula tab or the Formulas with Location(s) tab on the Formula Maintenance window . Select Apply. Note: Formulas have to be saved before they can be applied. The Apply button appears only after the formula is saved and reopened. If the formula is hidden or the Hide check box is selected, the Apply button is disabled. Hidden formulas cannot be applied. The Execute Retail Price Formulas window opens. The following table shows the icon legends in the Execute Retail Price Formulas window. Icon Icon

File Maintenance Help for NextGen® Enterprise 8

Apply a Formula

After you set up a formula in the Retail Price Formula master file, you can apply the formula to your inventory in the File Maintenance application. The formula is applied in the following manner to all items that meet the formula criteria: Retail Price = Mask + (Round (Catalog Price + (Catalog Price * (Markup / 100)) + Addon)) Example: $209.99 = $9.99 + (None ($50.00 + ($50.00 * (200 / 100)) + $50.00)) To apply a formula in the File Maintenance application: Select the formula from the Default Formula tab or the Formulas with Location(s) tab on the Formula Maintenance window . Select Apply. Note: Formulas have to be saved before they can be applied. The Apply button appears only after the formula is saved and reopened. If the formula is hidden or the Hide check box is selected, the Apply button is disabled. Hidden formulas cannot be applied. The Execute Retail Price Formulas window opens. The following table shows the icon legends in the Execute Retail Price Formulas window. Icon Icon

File Maintenance Help for NextGen® Enterprise 8

Set Up Formulas with Location(s)

The Formulas with Location(s) tab enables you to set up specific retail pricing by location. These formulas override the default formula for the locations specified. To set up the Default Formula: From the Formula Maintenance window, select the Formulas with Location(s) tab. Select the Open Menu button and select New. The Retail Price Formula window opens. Use the following tables for information on entering data. Table 1. Formula Field Description Description Enter the name of the formula. This is a required field. Markup % Enter the percent of markup for the item. For example, a $100 frame with a markup of 10% (entered to the left of the decimal point as 10.) costs $110. Addon Enter the dollar amount you want to add to the price. For example, a $100 frame with an add-on of $7.50 costs $107.50. If a markup percentage is used, the add-on is applied after the percentage increase is calculated. Mask Enter the dollar amount that you want to use to override the price. The mask replaces the

Retail Price Formulas

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Retail Price Formulas

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Retail Price Formulas

Retail Price Formulas

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Apply a Formula

Set Up Formulas with Location(s)