The Reprice (F6) function found in various Point of Sale areas can be used to update pricing based upon a number of factors. The reprice may be used multiple times and applied to all products or just certain products. Some reprice options (types) may not be available in all cases. When an option is not available, the radio button is disabled and the label for the option is displayed in gray text.

Selection

Selection determines which item or items the reprice will be applied to. There are currently four possible options for selection: All Stocked Items Entered, Highlighted Items Only, Stocked Items in Product Group, and By Item. Each option is explained in more detail below:

All Stocked Items Entered

This selection applies the selected reprice function to all stocked items entered in the transaction's grid area. Non-stocked products are not affected by this reprice because their pricing is typically set manually (we assume that the desired pricing was entered at that time). Repricing is only applied to the items currently entered and is not automatically applied to any new items added after using the function (you must do another reprice in this case).

Highlighted Items Only

This option only applies the selected reprice function to stocked item rows that are currently selected in the transaction's grid area. When a row is selected, its background color is changed to blue. There are a few different ways to select multiple rows. The far left-hand side column is used for row selection. The square "buttons" found in this column are used to select one or more rows. You can click on a starting row and drag your mouse up or down to select multiple rows that are in sequence. Using your keyboard with or without mouse selection is also useful, you can press SHIFT and use the mouse or down arrow key to select multiple rows. Use the CTRL key while clicking on row header cells (along the left-hand side of the grid) to select rows in random locations.

After selecting the desired rows, choose the Reprice (F6) function and remember to choose the "highlighted items only" option.

Stocked Items In Product Group

When this option is selected, a drop down control is provided allowing you to choose either a specific product group or specific section within a group.

By Item

This option provides a drop down that allows you to select a specific item to reprice. This control allows selection of any item and is not limited to just the items within your transaction. Alternate menu selections may be used to locate the item if needed. If the same item exists in multiple rows in the grid, all rows matching the item are updated.

*Why aren't non-stocked items included? Non-stocked items usually have no preset pricing or price structure and often don't represent any specific item until ordered. In the majority of cases, non-stocked items are assigned a specific price, description, etc. when ordered. We assume that in this case, the pricing entered by the user creating the order matches what the customer should pay. It is a common practice not to offer special pricing or discounts on custom (special) orders.

Type

The type panel is where you choose the method to be used for the reprice.

Price Level

The price level selection reprices the selected item(s) based on a price level you select from the provided drop down. Price Levels are defined in Parameters and given values in the Item Maintenance form. Level values (pricing) may be updated via the Price Updates transaction found on the Inventory menu. Up to seven (7) level prices may be defined and used with each item. Your company may choose to use fewer than all seven (7) available levels, however. Except for "store retail," levels are assigned a text description by your company (such as "Homeowner" or "Contractor," for example). Any examples in this documentation dealing with price levels will likely vary from your company's levels for this reason.

The Price Level option is the only reprice that adjusts the unit price of repriced items based upon each product's price rounding setting.

GM%

The GM% (gross margin percentage) option is used when you want to calculate a new price for the selected items based upon a desired margin percentage. Margin is the percentage difference between the price and the cost. The margin you specify can be calculated based on any of three (3) costs associated with items: weighted average (WAVG), last receipt (Last), and current market (Market). The (weighted) average cost is used for updating financial records and totals. Last receipt is the most recent purchase cost. Market is a manually set reference cost (it may be set automatically by some EDI (Electronic Data Interchange) processing, however).

Subtotal Amount

The "sub-total" amount option allows entry of an ending sub-total amount that will be used for price adjustments. Only prices for the selected items (based on your selection choices) are adjusted to match the total entered. If some items aren't selected, their prices will not be affected and the transaction subtotal won't match the "sub-total" amount entered for the reprice. Item pricing is adjusted based on the percentage amount that each selected item's extended amount represents related to the original sub-total for those products. In cases where a zero extended amount would result for the item, the subtotal won't reprice those items (this would happen if either the price or quantity were zero).
Note: In a value-added tax region, there are two different reprice options that replace the Subtotal Amount entry. For tax-included branches, there is a Total Including Tax option and for tax excluded branches, there is a Subtotal Excluding Tax option.

List Discount

A "list" discount refers to a percentage discount using the item's suggested list price. Suggested List is not a price level; although, price levels may be calculated based on the list price. Suggested list is a reference price that is manually set in most cases; however, EDI processing may update suggested list in some cases.

Cost Markup %

This is similar to the GM% option except that the percentage entered represents a "markup" rather than a margin type calculation. Markup takes the selected cost and increases it by the percentage you specify. This does not result in a price with the same "margin" as the percentage you entered. For example, if an item costs $1.00 and you "markup" the cost by 25%, the resulting price will be $1.25; however, the margin on a price of $1.25 and cost of $1.00 is 20%, not 25%. Please see the GM% description (above) for more information about the cost selections available.

Account Reset

When applicable, this allows you to reprice the selected items to the default pricing the current customer would receive during a Point of Sale transaction. This can function as an undo or reset for the current custom.

Apply Item Rounding

Reprice functions often need to use all 4 decimal places to match a particular subtotal or calculation, so they don't necessarily or usually result in a rounded price. All or just selected items can be repriced based on their price rounding settings by using this option. Rounding usually results in changes to item prices and extended amounts.

New Price

This option is only enabled when using the "by item" selection option (see above). When enabled, a text area is provided where you can enter a new price for the selected item. If the selected item is included more than once, all occurrences of the item will be updated with the new price.