Price Codes

Basic Pricing Options

Understanding Pricing Options in FrameReady

First, Some Important Terms to Know

Cost

The wholesale cost of the item; the price you paid for it. Each item in FrameReady must have a Cost in order to automatically calculate a Retail Price.
Your FrameReady Subscription includes downloadable Vendor Price Updates for length, chop, and join costs.

Markup

A multiplier, such as 4.5 used to calculate the final Retail Price.
For Moulding only, can also be the calculated result a formula, such as cost*3

Set Price

Optional. A dollar value added to the retail price of the item after it has been priced on a Work Order.
The Set Price can be a fixed value, e.g. 8 or a formula, e.g. cost*2

Minimum Price

Optional. If entered, the Minimum Price is used only when the calculated Retail Price is too low.
Can be a fixed value or a formula.

Code; Code Table

A pricing chart that assigns a fixed price to a fixed size (to United Inches, or to square inches).

Formula

Optional. A calculation using several factors, e.g. a unit of measurement, a cost per measurement, etc.

Retail Price

For Moulding only, either a fixed or calculated value (you decide).

Price Per UI

Either a fixed or calculated value (you decide).

Disclaimer

It must be emphasized that the pre-installed Markups, Formulas and Code Tables are included as a beginning point to help you get started.

In no way does Adatasol, Inc. suggest that these should be your formulas or that they represent an accepted industry standard. There are a number of books and courses that specifically focus on pricing techniques. If you are unsure of what you should charge, then we recommend that you take advantage of the many educational opportunities that are available. That being said, the pre-installed formulas and code tables have been well thought through and you may use them with confidence. FrameReady users new to the industry can count on the program giving them a good starting point.

Price Groups in FrameReady

Every Price Code item in FrameReady must belong to one Group, e.g. Moulding, Matboard, or Fitting, etc.
It is the type of Group which determines the available pricing options you can use.

For example, the pricing options for moulding are Length, Chop and Join. See the table "Groups and their Available Pricing Options" (below) for more examples.
The Retail Price of items in FrameReady can be the result of a calculation (which we call a Formula) or it can be manually entered as a fixed price.

For example, the retail price of moulding can be calculated as your wholesale chop Cost multiplied by a Markup of 3. The Formula might look like this: cost * 3

The Available Pricing Options

Depending on which Group the item is in, its retail price can be calculated by:

the linear foot (e.g. moulding)
the square inch, foot, or yard (e.g. mirrors)
the linear yard (e.g. fabric)
the united inch (e.g. matboard)
a fixed size (e.g. hardware)
the unit (e.g. per hour)

Groups and their Available Pricing Options

The available Pricing Options as listed by Group.
Moulding, for example, can use length, chop or join to determine a final retail price. Fabric, on the other hand, can use the linear yard.

Group	Item	Cost Type	Pricing Options
Moulding	wood metal polystyrene liner fillet (includes Bevelled Accents and Faux Fillets) extender	length chop join	1. formula based on wholesale cost 1A. Program default pricing 1B. Your own custom defaults 2. vendor supplied retail price matrix
Matboard	all types of matboard e.g. regular, conservation, suede, etc	standard 32×40 oversize 40×60 other sizes	1. square inch formula 2. square foot formula 3. square yard formula 4. code table – united inch or fixed size 5. user-defined set price
Fabric	all types of fabric	linear yard	1. linear yard formula
Mat Design	all hand-done mat designs e.g. V-Groove, corner cuts, french lines	various	1. price per united inch 2. code table – united inch or fixed size 3. user-defined set price per design
CMC Designs	all computerized mat cutters	.	1. user-defined set price per layer
Mounting	all mounting/stretching techniques e.g. mountboard, foamboard, dry/wet mounting, conservation, etc	standard 32×40 oversize 40×60 other sizes	1. square inch formula 2. square foot formula 3. square yard formula 4. code table – united inch or fixed size 5. user-defined set price per mounting
Hardware	hinges, easel backs, wire, turn buttons, hangers, etc	piece or unit	1. price per united inch 2. code table – united inch or fixed size 3. user-defined set price per item
Glass	all types of glazing acrylic	lite	1. square inch formula 2. square foot formula 3. square yard formula 4. code table – united inch or fixed size
Extras	items not covered under any group e.g. shadow box, etching, blocking, increase rabbet depth, etc	various	1. price per united inch 2. code table – united inch or fixed size 3. user-defined set price per item
Fitting	all fitting and other labor related charges	.	1. price per united inch 2. code table – united inch or fixed size 3. user-defined set price per charge
Multi-Angle	various multi-sided frames	.	1. percentage increase of work order
Supplies	wire, brads, staples, tape	piece or unit	1. Never entered on a work order 2. Used only for ordering sundry materials 3. Can be added to an invoice for resale