This process is the same whether you are entering pricing details for a new Product or adding a new price for a Product which is already on the system.
To add a new price to the system, click on the 'Add' tab at the bottom of the screen. You will see a message telling you that there is currently no pricing information for this
Product.
You will then be asked to specify a Pack Size and Price Break.
When pricing a new Product, you will most likely want to add a Pack Size of 1 and a Price Break of 1, so that you can sell the Product as an individual item. For further details of Pack Sizes and Price Breaks, click on the links for the appropriate sections.
You will notice that the box next to the 'Pack Size' field is greyed out. This box should tell you how the Product is sold - in units, metres, grammes, etc. It relates to details that were entered in the 'Pack Type' field in the Master Details tab and cannot be changed in this screen.
You then need to enter the last cost price of the Product, followed by either the selling price or the gross margin that you want to achieve. The 'Selling Price' and 'Margin' fields are linked, so that you can see how adjusting one value affects the other, and settle on the one that is best for you.
Once you are satisfied that the pricing details are correct, click on the 'Add' button. This will add your new pricing details to the area above - which will then resemble the
following.
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You can also clear the entries you have made so far by clicking on the 'Clear' button.
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10.1.7 Pricing - Amending Existing Prices
Once a Product has been given a price, a new tab will be available at the bottom of the Pricing screen. The Edit tab allows you to alter details of prices that have already been added to the system, and will show you a table containing all the Pack Sizes and Price Breaks that apply to that particular Product.
Clicking in the area of the table containing the price you wish to amend will allow you to edit these pricing details in the fields below the table.
The area to the right of these fields allows you to see the current stock position for that Product (in the Pack Size and Price Break specified).
This area shows the current Stock Queue, the Last Cost of the Product, the Quantity available, and the Margin that this Product will make.
You will notice that the stock is queued in the 'batches' in which it was booked in to the system. This is because the Merlin Back Office system uses a First In First Out (FIFO) stock system, which automatically sells those items first which were bought first.
These different 'batches' may have different cost prices and, therefore, different margins (as above).
This area is important because it also allows you to make or test alterations to the selling price of the Product and immediately see the effect that this will have on the margins of the stock that you currently hold.
If your system is Multi-Locational, click here for further details.
In the pricing area of the screen (bottom left) there are two fields called 'Margin' and 'Actual Margin'. Details of these fields and their functions can be found by clicking this link.
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10.1.8 Pricing - Margins
In the pricing area of the screen (bottom left) there are two fields called 'Margin' and 'Actual Margin'.
The 'Margin' field is part of the pricing structure that you created when you added the Product to the system. The value in this field will remain static as the stock queue changes, because it denotes the Margin that you were initially trying to achieve when you set up the pricing structure. This allows you to perform a comparison with the Actual Margin, and make any necessary adjustments (see below). If this value changed without you specifically changing it, you would have no idea of the Margin that you were
originally trying to achieve, and you would not be able to see any differences in your margins.
The 'Actual Margin' field shows the Margin that you are presently achieving on the Product in question. This will change as your cost price changes, and will reflect the Margin of the 'batch' of stock that you have booked in most recently.
Adjustments can be made to Margins as follows:
(a) To keep your original Margin, and adjust the Selling Price.
Click in the greyed out 'Margin' field with your mouse cursor, then press RETURN. This calculates a new Selling Price based on the new Cost Price, and the Margin that you were originally trying to achieve in the pricing structure. You can then make manual adjustments to the Selling Price if necessary, to bring it into line with publicly accepted retail pricing (for example, £3.99 or £3.95 rather than an awkward-looking £3.92).
(b) To keep your original Selling Price, and adjust the Margin.
Click in the 'Selling Price' field with your mouse cursor, then press RETURN. This
calculates a new Margin based on the new Cost Price and the original Selling Price that you are maintaining. This effectively brings the Margin into line with the Actual Margin, and sets this as the value you want to achieve in future.
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10.1.9 Pricing - Deleting Prices
The Delete tab is very simple to use, and allows you to delete prices that are no longer required.
Select the appropriate Product and click the Delete tab at the bottom of the Pricing screen. The screen will resemble the following:
The top part of the screen shows the pricing structure that the Product has been given.
This pricing structure may be large or small, depending on the amount of Pack Sizes and/or Price Breaks that have been set up for the Product.
The area below the pricing structure is entitled 'Remove Pack/Price Break.
Using this area, select the Pack Size and/or Price Break that applies to the price that you wish to delete. Do this by clicking on the down arrow to the right of the fields, and selecting from the drop-down list that appears.
Once you have selected the price for deletion, the 'Delete' button will become enabled.
Click this and a small box will appear asking you for final confirmation that you really do want to delete this price. Click 'OK' and that particular price is deleted from the system.
Note: the system will not allow you to delete the price of a single unit (Pack Size 1, Price Break 1).
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10.1.10 Discounts
The Discounts tab of the Stock Maintain program allows you to apply up to five discount levels for each item of stock that exists on the system. These are product-related
discounts that allow you to offer stock items at reduced prices to those Customers who hold a Credit Account with your business.
Note: the screen that you see may have more or less percentages in the lower window, depending on the quantities of Pack Sizes and Price Breaks that you have set for the product.
The Discounts tab basically consists of two areas: the 'Discount Levels' bar, and the 'Profit Margins' window.