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Markup Price Updates

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Page Contents:

Batch tab

Log tab

Using the Markup Price Update

Markup Price Update Tutorial

Helpful links:

Import Product Price Markups

Import Product Price Markup Field Definitions

The Markup Price Update page enables you to set sell prices for your products based on a pre-defined markup percentage, from a specified original price or cost.  To use the feature, it must first be enabled in your Company's configuration settings. By default, the setting is disabled but can be enabled at any time. For more details, see Company.

The markups can be applied either individually in a product record's Sell Price Tiers tab, or in bulk via the Markup Price Update page. Each sell price can be marked up from the following original values of the given product:

  • Nominal Cost
  • Average Land Cost (ALC)
  • Last Cost
  • Default Purchase Price
  • Default Sell Price

When each of the above values are updated for a product, the Sell Price Tier will not automatically re-calculate a price to align with the new original value. This is the ensure there is consistency in your sale values. As such, when changes to the original value are made and the Sell Price Tiers need to be updated accordingly, use the Markup Price Update page to apply the update. 

Markup Price Updates page

To review the Markup Price Update page, go to Inventory in your main menu and select Products, Markup Price Update. The page then includes two tabs:

  • Batch: An overview of the current sell price tiers per product and where updates are applied.
  • Log: An overview of the markup updates that have previously been applied.

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Batch tab

Header button descriptions

At the top of the Markup Price Update page, there are three buttons available:

  • Import: When selected, will direct you to the Product Price Markup Import page where you can download the Product Price Markup template and upload any changes.
  • Export: When selected, a CSV file of your the current Markup percentages saved against each product and price tier will be downloaded
  • Update: When a Price Tier is selected in the Price Tiers filter, the Update button will apply the markups provided. 

Batch filter fields

In the Batch tab, the following fields are available to filter the products listed in the Markup Price Update page: 

  • Product Code: Field used to search for a specified product by product code.
  • Product Description: Field used to search for the specified product by description.
  • Supplier Code: Field used to search for a specified products with a specific default Supplier, by Supplier Code.
  • Supplier Name: Field used to search for a specified products with a specific default Supplier, by Supplier Name.
  • Product Group: Drop-down menu used to filter by Product Group.
  • Price Tiers: Drop-down menu used to select which price tiers are to have a markup applied to and updated.

Batch column header descriptions

The following columns will be displayed in the Markup Price Update's grid:

  • Code: This column displays product code for the specified line.
  • Description: This column displays the product description for the specified line.
  • Purchase Price: This column displays the current default purchase price for the specified line.
  • Sell Price: This column displays the default sell price for the specified line.
  • Tier (1-10): These columns show the price per sell price tier for the specified line. If custom Sell Price Tier names are setup, the custom names will populate in the column headers. For more details, see Sell Price Tiers

Log tab

The Log tab enables you to view the markup price updates that have been historically applied per product, including the old and new prices.

 

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Log column header descriptions

  • Date: This column displays the date the markup price update was applied for the specified line.
  • Product Code: This column displays the product code for the specified line.
  • Sell Price Tier: This column displays the sell price tier that was updated for the specified line.
  • Old Price: This column displays the original price of the product for the specified line.
  • New Price: This column displays the new calculated price of the product for the specified line.
  • Created By: Contains the email/account name of user.

Using the Markup Price Update

When the Markup Price Update setting is enabled in your Company settings, head to Inventory, Products and Markup Price Update. From here you can set new markups for your products and manage existing ones in bulk. 

Update markup percentages

To apply new or amend the current markup percentages that exist for each sell price tier, you can use either the Import function in the Markup Price Update page you you can go to the product's record and edit the Sale tab. 

Import Markup Price Update

  1. From the Markup Price Update page, select Import. You will be directed to the Product Price Markup Import page, where you can Download Product Price Markups Template File

    The template file will be blank, so you will populate each product's sell price tier as required. For more details, see Import Product Price Markups.

  2. Alternatively, from the Markup Price Update page select Export. This  will download a pre-populated Product Price Markups Template File, with all your products and their Sell Price Tiers (including 0.00 or null priced tiers).


  3. Remove any rows in the CSV file for products or sell price tiers that are not due to be updated. Then update the Markup % and Markup From columns, per product per Sell Price Tier with the values required.

    The Markup From values should be entered as follows (Import Product Price Markup Field Definitions):
    • None
    • NominalCost
    • AverageLandCost
    • LastCost
    • DefaultPurchasePrice
    • DefaultSellPrice

  4. Once the CSV is updated, upload it by selecting Import in the Markup Price Update page and importing the file via the grey tile options. Monitor the import's progress via the task bar in the top right of your Unleashed page.

    • Orange circle: In progress.
    • Red cross: Import failed to complete.
    • Green tick: Import completed successfully.

  5. The Sell Price Tier columns in the Markup Price Update page will not yet update, based on the imported values. However the product record's Sell Price Tiers will show the imported values have been saved for future application.



  6. In the Markup Price Update page, use the Price Tiers drop down filter field to select which Sell Price Tiers you want to apply the imported markup percentages to.


  7. Select Update in the top right of the Markup Price Update page. 

  8. This update will then apply the saved markup price to the selected Sell Price Tiers of any product included in the Markup Price Update's page. 


  9. These new Sell Price Tiers will then apply to any new Sales Order that's created, as appropriate.

 

Individual Markup Price Update

  1. Open a product's record and head to the Sale tab. Within the Sale tab, under the Sell Price Tiers tab select the View Markup Prices button. This displays the editable Markup Price columns (Margin % , Markup From, Markup %, Markup Price, Action) where you can add and amend the percentages that apply per sell price tier and subsequently apply them.


  2. Use the Markup From drop-down menu to select where the sell price tier's Current Price should be marked up from: 

    • None: Use the Current Price field to manually advise a price for the tier.
    • Nominal Cost
    • Average Land Cost
    • Last Cost
    • Default Purchase Price
    • Default Sell Price

  3. When the Markup From field is selected, the Markup % will become available to edit. Here you will advise a percentage that Unleashed will calculate the Current Price with using the product's Markup From value. 
  4. The Markup Price field will update to show the calculated price, using the percentage provided. The Markup Price field is used to review the calculated price but does not automatically update the Current Price for the Sell Price Tier. 

  5. When wanting to update the Current Price for the Sell Price Tier with the calculated Markup Price, select the Apply Markup Price link in the tier's Action column. This will apply the Markup Price to the tier's Current Price and will apply to any new Sales Order created for the product where the Sell Price Tier applies. 


  6. If all Sell Price Tiers of the product require an update to their Current Prices, hover over the Action Cog in the Action header and select Apply All Markup Prices.

The Margin % displays a calculated percentage based on the Price given in the tier and the product's current Average Landed Cost. The formula to work this out is as follows:
Sell price - Average Landed Costs / Sell Price x 100


NOTE:

  • If there is no Average Landed Cost then the Last Cost is used in the formula instead.
  • The price in the tier will not automatically update any time the value in the Markup From field changes, you need to select Apply Markup Price to update the tiered price as and when required.

Apply Markup Updates

If the original value your sell price tiers are marked up from have changed or you've updated the percentage the sell price tiers are marked up with, apply those changes to re-calculate the Sell Price Tier prices.

  1. From the Markup Price Update page, use the filters available to select which products require an update.

  2. Select at least one tier from the Price Tier filter field.

  3. Select the Update header button, which will highlight in green once a price tier is selected.

  4. The Sell Price Tiers for the filtered products will be re-calculated and the grid will update accordingly. These new prices will then populate for any new Sales Orders or Quotes created after the update has completed. 

Markup Price Update Tutorial

 

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