• TOR
  • Member
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  • From: Pakistan
  • Registered: 01/07/2013
  • Posts: 44

Topic: How to handle price increase of item by a supplier

Hi

How do I handle price increases by a supplier for his products? I want to retain the previous price history as well.

Scenario:

1. I am selling Item-A from Vendor-A at a Sales price of $10 (purchase price is $6)

2. From 01-Jan-2017 the Supplier will increase his price from $6 to $8.

3. I will also increase my price from $10 to $12.

Requirement:

1. I want the system to keep on invoicing my customers @ $10 till 31-Dec-2016.
2. With effect from 01-Jan-2017 I want the system to automatically start using the new prices
3. I want the system to maintain a history of both, sales/purchase price change and effective dates.

Please help!
Cheers!

  • alvin
  • Senior Member
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  • From: USA, Guatemala, Honduras
  • Registered: 05/20/2008
  • Posts: 301

Re: How to handle price increase of item by a supplier

Yes this would be very nice...

What about something like how foreign currency works?

You would add, set, a price markup % to an item. Then when a supplier has an increase, the sales price would also be increased automatically, a date set on the increase.

"The roots of education are bitter, but the fruit is sweet."  - Aristotle.
  • TOR
  • Member
  • Offline
  • From: Pakistan
  • Registered: 01/07/2013
  • Posts: 44

Re: How to handle price increase of item by a supplier

Right. Something like the foreign currency change. I think we can handle the inventory price increases by having an extra tab in the Items & Inventory--r> Maintenance-->Items screen.

One should select the Item, which should list the current price and the create date. Then the exact routine for foreign currency change should be run below. The pricing in Sales/Purchasing Tab in Items should list the relevant prices mentioned in the Extra Tab.

Hope I am making some sense! lol