Price Codes

Set up Moulding Pricing

Before proceeding with this section, you may want to look at the section which describes the Frame Pricing tab. It details the various fields and buttons.

Formula Overview

The Formula field is where you enter a calculation to determine the Markup (and, ultimately, retail price per foot of your moulding).
While you could, for a three and a half times markup, directly enter 3.5 , it is often more useful to use a Formula.
You may set up your own Formulas and choose to have them as defaults when you perform a vendor pricing update.
You can apply the Formula to all moulding for all suppliers, i.e., all records that belong to the moulding group.
Or you can apply the Formula to all moulding for one supplier, e.g. you have a vendor who has a higher shipping charge and you want to cover that in the Set Price field.
Or you can apply the Formula to just one group, e.g. wood, for all suppliers, i.e., you have different formulas for different groups.
Or you can apply the Formula to one group for one supplier.

Designing Your Formula

If your vendor provides you with all three cost types, then you will have to decide which one to use in the Formula: Length (cost), Chop, or Join.

Important: in the Formula field the words: Cost; Chop; and Join represent the field value of the same name. So if the field value (wholesale cost) changes, (when you do a Vendor Uupdate) then the net result (the retail price) of the Formula changes.

Example Moulding Pricing Formula

The Formula field is very flexible and allows for a great variety of expressions. Here are some examples:

Example 1: Round Up

You want the price per foot to always round up to the nearest dollar. The formula would look like this:

Example 2: 15% Discount

Your vendor gives you a discount of 15% off the list price which you wish to pass on to your customer. The formula would look something like this:

In the above example, the wholesale Cost is divided by 1.15 (which reduces it by 15%) then is multiplied by a Markup of 4.25 plus $1.75 (per foot).

Example 3: Sliding Scale

You want to use a sliding scale formula, i.e., the greater the cost, the lower the markup.
The formula would look something like this:
In the above example, the word Case acts as an “if” statement. In other words, if the cost is less than 4 (dollars) then markup it up 5 times, otherwise if, the cost is less than 6 (dollars) then markup it up 4.9 times, otherwise if, the cost is less than 8 (dollars) then markup it up 4.8 times, otherwise if, the cost is less than 10 (dollars) then markup it up 4.7 times, etc,.
The statement finishes with 4.1. In other words, the markup will be 4.1 for everything over 20 (dollars).

How to Apply your own Moulding Pricing

See: Apply your own Moulding Pricing