Price Lists
A price list is a convenient way to manage discounts or markups of the inventory and service items you sell to your customers. If your business offers a variety of prices for the same items or services for different sales situations, you can create a price list to identify each of those situations. For example:
- A retail flower business may want to offer different prices for bouquets for one-time and repeat customers. You can set up a price list for each type of customer: Gold (which sets prices at a 20% discount, Silver (which sets prices at a 15% discount), Bronze (a 10% discount), and Regular (no discount).
- An automotive repair company may want to offer bodywork services at the regular price, and at a discounted price for discount card holders, or a combo price when purchased in conjunction with another service.
There are several advantages
to using price lists
- You can offer discounted prices on goods and services for preferred customers without having to manually calculate discounts when making a sale (but you can still make a manual change if you want).
- Once you assign a customer to a price list, only the customer's price list prices appear when recording items for a sales transaction.
- Assigning an item or service to a price list allows you to quickly update one or more prices based on a percentage or dollar amount, at one time.
- Adding an item to a price list allows you to process an invoice or record a bill quickly by choosing the item from a list.
- You can display and print a price list, or export the list to a variety of formats.
- If you are no longer using an item, but want to retain information about it, you can make the record inactive.
Sage 50 Accounting automatically sets up three price lists for you: regular, preferred, and Web pricing. Each item or service record contains fields which allow you to enter a price for each of these preset price lists, if you want to use them.
Use the price list window to change only the prices for the items that you discount for that specific customer. Then, in the customer record, assign the appropriate price list to each customer.
Note: You cannot use this feature with one-time customers because a price list is linked to a customer record.
Creating multiple price lists (Sage 50 Premium Accounting)
Except for the default price lists, Sage 50 Accounting gives you the option to add, change, or remove additional price lists. You can also easily change the prices of several items on a price list (for example, increasing the price of all items by 5%.)
Note: You can have up to 100 price lists in Sage 50 Accounting Sage 50 Premium Accounting, and up to 1000 in Sage 50 Accounting Sage 50 Quantum Accounting.
Updating your price lists
You can modify and update your price lists three ways:
- By item. Each inventory and service record shows an item's price in each price list.
- By price list. You can open a price list and modify the prices of all items listed. You can also create new price lists, based on existing ones.
- By importing or exporting lists. For more information, see Importing and Exporting Price Lists.
Note: If you are using FIFO inventory costing, prices based on Cost always use the most recent purchase cost to calculate price.
What do you want to do?
Assign a price list to each of your customers
Add
or change, or remove a price list
Change
item prices by price list