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.
An entry for one of the following fields is required for the formula:
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 digits of the price only for the digits you enter. For example, a $27 accessory with a mask of $.99 costs $27.99 or $55.00 accessory with a mask of $40.00 costs $40.00. Fixed Price Enter the fixed price, if applicable. When a fixed price is entered, all of the other formula fields become disabled. The fixed price becomes the calculated price. Reorder Level Enter a quantity in this field to indicate when this item should be reordered. Quantities from this field appear on the Inventory to Reorder report, which can be used to compare in-stock levels to the reorder levels. Round Price Select this option to round the price. Rounding is based on the first dollar position of the calculated price and is rounded up or down in five dollar increments. The following example shows how this works. Calculated Price: 60 61 62 63 64 65 66 67 68 69 70
Rounded Price: 60 60 60 65 65 65 65 65 70 70 70
Taxable Select this option to charge tax for the item when applying the formula. - Markup %
- Addon
- Mask
- Round Price
- Selection Criteria
Table 2. Selection Criteria Field Description Category Select a category. The formula is applied to the selected category. This is a required field. Category Type Select the category type. The formula is applied to the selected category type. Vendor Select the vendor. The formula is applied to the selected vendor. Brand Select the brand. The formula is applied to the selected brand. Collection Select the collection. The formula is applied to the selected collection. Table 3. Price Range Field Description Start End
Enter a dollar amount to set the beginning of the price range in the Start field. Enter a dollar amount to set the end of the price range in the End field. The formula is applied to items within the price range. Table 4. Location(s) Field Description Location check boxes Select the locations that the formula applies to. Table 5. Test Field Description Catalog Price Enter a catalog price for testing. Outcome Select the Test button to the right of this field to test the formula and display the results of the calculations in this field. Table 6. Note Field Description Note Add comments about the formula. - If you want 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 existing item, the Next button does not appear.
- Select the Include Hidden Items check box to include hidden items in the master file list. If you do not select this option, the items do not appear in the list and they cannot be accessed.