Price Management

Price Management

All information like Customer, Users, Vendors, Products, Prices and other master information is centralized and available at your fingertips during different transactions. The master data doesn’t need to be maintained multiple times per department and thus avoiding redundancy of data.

Selling Price gets automatically calculated based on Vendor Margin available. Upto 3 levels of warehouse pricing can be maintained and used for institutional customers. Selling Prices can also be updated in bulk when there is a need.

Managing Selling Prices

Margin based Selling Price calculation – Retail ERP helps users to calculate their selling price based on different margins. If the Mark Down percentage for the product is within a specific margin range then the discount configured in the margin screen is applied for calculating selling price for the product.

Business Rules

  • Users will be able to configure different margin ranges and discount %
  • The margin configuration cannot overlap
  • Users can set a different discount %, and apply it using the margin screen “apply all” process for all products that come within the margin range
  • The margin discount % gets applied for products that have selling margin type “Based on Slab”
  • The default selling margin type is “Based on Slab” for all products. Users can change the type to “Based on MRP”, “Based on Landed Cost” and make necessary configurations for different price calculations
  • Users can configure different discount % for different wholesale prices and this gets applied for a specific product

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Markup/Markdown Management

The markup & markdown feature helps users to maintain the landed cost and selling price for a product.

Business Rules

  • Users will be able to capture the mark down/mark up percentage for a product in the product screen
  • These percentages can be adjusted manually or automatically based on user configuration of different other parameters like basic cost, selling price, mrp, discount, tax %
  • If the GKM option is enabled for the branch, the system will not allow users to set the mark down % less than the GKM %. This feature helps business to maintain their purchase margin for specific product from a specific vendor.

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Wholesale Price Management

Users will be able to capture wholesale price for a specific product. This in turn will get applied for customers who buy in whole or otherwise wholesale customers.

Business Rules

  • Retail ERP application allows users to configure 3 different wholesale prices. Wholesale price 1, 2, & 3
  • These whole sale prices get calculated based on margin configuration when the selling margin type is “Based on Slab”
  • If the selling margin type is different, users can manually set the wholesale prices
  • In the customer screen users can set the appropriate price list based on the customer type
  • If the customer is a wholesale customer then among the wholesale prices configured one price list is configured
  • Based on this configuration the system will automatically pull the price during POS sales

UI/Layout

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Selling Price Updates in Bulk

After initial configuration of products, over time users might want to update the selling price for different products based on departments, category, brand, sub-category, etc. Using the bulk update option users can do this process easily and quickly. This helps them to reduce manual errors and improve efficiency.

Business Rules

  • The selling price update screen helps users to filter the list of products that need to be updated
  • Users can select the type of price that needs to be updated (selling price, wsp 1, wsp 2, or wsp 3)
  • Users can update the selling price either based on landed cost or based on MRP
  • If MRP is selected a discount will be applied against the MRP which will be set as selling price
  • If Landed Cost is selected a margin will be set against the Landed Cost which will be set as selling price
  • Before updating the selling price, Retail ERP will show the “to be” updated selling price for the selected products
  • Once user verifies and clicks ok, the selling price will be automatically set for the particular product and also the batch that is matched with the product header based on MRP

UI/Layout

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Tax Master

The tax master helps users to configure the GST tax information like CGST, SGST and IGST taxes both for purchase and sales. Tax configuration helps users to configure the right price both sales and purchase which will be used during transactions.

Business Rules

  • System will allow users to configure both the purchase taxes and sales taxes, including CESS
  • System also allows users to configure virtual warehouses for in-transit stock
  • Users can configure different tax categories and tax rates for both purchase and tax
  • In the product screen, users can configure the sales, purchase, and CESS taxes together
  • Once configured the system will take care of tax calculation in transaction screens automatically
  • The tax rates for CGST, SGST, IGST can be configured by users

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