This area displays the current default setup of the price level. The default setting of all price levels are defined on the Pricing tab of System Preferences and are applied to an item when it is initially created. Due to the fact the pricing setup of an item can be subsequently modified from Inventory Maintenance, changing the default setting of a price level in system preferences will not apply those changes to any existing items. Global changes to the setup of level pricing must be performed using the modify level pricing utility.

 

 

Cost Basis

This field will display the cost (real, market, or base) that is used to derive the selling price of the item.

 

Markup Percentage

This field will display the percentage that is applied to the Cost Basis, to derive the selling price of the item for the specified price level.

 

•If this field has a value of 0.00, the default pricing method for the selected price level is based on a dollar amount over cost. Under these circumstances, Change by dollar amount will be the default update method.

•Price levels that do have a non-zero markup percentage defined will default to a Change by percentage update method.

 

Calculation formula

This field will display a combination of the following values that are defined for the selected price level in System Preferences.

 

•Formula [% of Selling Price or % of Cost]

•Rounding Method [to Nearest or to Next]

•Rounding Level [penny, nickel, dime, or quarter]