Master Data Management > Inventory

Main Menu > Master Data Management > Inventory > Price List

There are two types of price list available in FusionRetail 6.

•	Sale: To offer different prices and discount to different groups of customers, you may create Price List with Rate & Discount and link the Price to Customer Master. The Item Rates and Discount will be applicable as per the Price List selected.

•	Purchase: You may also create Purchase Price List (Rate Contract with your suppliers) and link the same to Account (Supplier) Master.

Name	Enter the name of the Price List (like Retail Exclusive, Premium etc)
Type	Select Purchase (for Purchase Price List) or Sale (for Sale Price List)

Now at the detail line, select the Item and enter the following details for each Product to be included in the Price List

Productivity Tip

You can use the multi selection list to select multiple products in one go.

Please see Multi Selection List for more info.

Product	Select the Product. Press Ctrl+N to create a new Product.
Sub Group	Sub Group will be displayed on selection of Product.
Brand	Brand will be displayed on selection of Product.
Rate	Enter the Rate per unit (sales or purchase, as the case may be) Note: Apart from Price List, you may specify Item Rate at Product Master and Stock receive entries (like Opening Stock, Purchase Order, Purchase and Production). When you create and set a price list following will be the rate pick-up sequence. 1. Price List 2. Product Master (Standard Cost Price / Standard Selling Price) 3. Stock Child Rate (Entered during stock-inward transactions)
Disc %	Enter the Discount rate Applicable in case you offer some fixed discounts in percent to your customers or you get from your suppliers.
Disc Amount	Enter the Discount Amount per unit. Applicable in case you offer some fixed discounts in value to your customers or you get from your suppliers. Note: Discount specified in % or amount is applicable only for Sale Order, Sale and Sale Return transactions. It will be reduced from Sale Price to get the Final Sale Rate.
Mark up	Enter the Mark up percentage. Applicable in case you have a fixed markup percentage for products you procure from different suppliers. Note: Markup specified here is applicable at Opening Stock, Purchase Order and Purchase transactions. It is used to calculate sale price based on cost price + markup value specified. It is also applicable at Sale Order, Sale and Sale Return. It will take the cost from the child and then based on markup it will derive the sale price. If child is not present, it will pick up cost from Product Master -> Standard Cost Price. Markup is not applicable in case of Purchase Return.
Margin	Enter the Profit Margin in percentage. Applicable in case you have a fixed margin percentage for products you procure from different suppliers Note: Margin specified here is applicable at Opening Stock, Purchase Order and Purchase transaction. It is used to calculate sale price based on back-calculation method. It is also applicable at Sale Order, Sale and Sale Return. It will take the cost from the child and then based on margin it will derive the sale price. If child is not present, it will pick up cost from Product Master -> Standard Cost Price. Margin is not applicable in case of Purchase Return.
Tax	Select the applicable Tax from the List. Note: Tax specified in Sale Price List will be used during Sale Order, Sale and Sale Return. Tax specified in Purchase Price List will be used during Purchase Order, Purchase and Purchase Return. Tax specified in Purchase Price List will be used during Purchase Order, Purchase and Purchase Return. Like Product Rate (Standard Cost Price and Standard Sale Price), tax is also defined at Product Master. Whey you create and set a price list, following will be the tax pick-up sequence. 1. Price List 2. Product Master

Key Information

*** You are allowed to enter data values in ONLY ONE of the following five fields, i.e.,

Rate

2.	Discount Percent (%)

3.	Discount Amount

Markup

Margin

Price List Master Button

Price List Master Display

Main Menu > Master Data Management > Inventory > Price List > Display

Note: Set Is Active to “No” to remove the Price List from Manual Price List selection at the time of sale and purchase transaction. Please note that it will not bypass the price list even defined in the customer or supplier.

Price List of Sale type can be linked with Customer and is applicable at Sale Order, Sale and Sale Return

Price List of Purchase type can be linked with Supplier and is applicable at Opening Stock, Purchase Order, Purchase and Purchase Return

To link a Price List to the Voucher Type

1.	Main Menu > Master Data Management > Accounts > Voucher Type > Sale > Transaction Option > Default Price List - Select desired Price List from the List

2.	Main Menu > Master Data Management > Accounts > Voucher Type > Purchase > Transaction Option > Default Price List - Select desired Price List from the List

3.	Choose [NONE] to unset a price list or in case you do not want to use the price list.

To link a Price List to the Customer

•	Main Menu > Master Data Management > Others > Customer > Price List - Select desired Price List from the List

•	Price List of Sale Type will be displayed here

To link a Price List to the Supplier

•	Main Menu > Master Data Management > Accounts > Account Ledger > Price List - Select desired Price List from the List

•	Price List of Purchase Type will be displayed here.

Note : Price List is applicable only on ledgers those are under Sundry Creditors group.

•	When you start a transaction it takes the default price list based on that voucher option.

•	Once you select a customer or supplier with price list defined, it will prompt “The current price list is different from the price list defined on this customer / supplier” Do you want to change the price list“. Answering “Yes” will override the default price list.

•	If some items are already entered in a transaction screen, selection of new price list will not change the prices of already entered.

•	If the default price list is [None] then it will not ask while selecting the customer / supplier.

•	If the price list at customer / supplier is [None] then also it will neither ask nor change.

•	After the transaction is finished it will take the voucher price list.

•	Please note that the price list will give you the final selling price i.e. if you enter discount % in the price list – it will give you (original sale price less discount) as sale price.