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Price Book
Overview
Go to CAS --> Management --> Transaction Codes --> Price Book
A price book is created when normal prices of items, discounts, coupons are modified for a specific Location. The unique pricing can be set not only at the item level, but can be applied to specific classifications, vendors, and customer groups. The user can discount their shoe department or all red sweaters. There is flexibility for discounting that allows for targeted promotions.
The price book can be applied to specific location, as the same store with locations across the country can have pricing specific to their region. A price book would be created if user wanted to make the prices higher in only west coast stores. The price book created would be a west coast stores price book.
The user has two options select the price book by group or by specific item number to create a price book. The user can also modify discounts or coupons on this screen as well by typing in the old value and the new value. This is done to allow items to be sold inside individual stores for different amounts than what is listed in the master item table. Using Group Level discounts the merchant is able to add specific discount to the department or attribute selected. User can select department, category,sub cat, or attribute then attached the discount to it. Once saved all merchandise is the selected department or attribute will be affected. All items that are in the discounted group that are created after the Price Book is in place will be included in the price book.
Once the price book has been created it needs to be added to a venue or store to take effect.
To add, go to CAS --> Management --> Hierarchy --> Modify Hierarchy --> (Store or venue). From this UI you can add the price book from the drop down selection.
Details
A price book is a feather in any merchants hat, it is an essential tools that allows merchants the ability to set a new price or discount level for certain items, a classification or attribute, or for a customer group.
Once you have multiple price books in place it's important to know which price book will apply to the sales transaction. Consult the Price Book Hierarchy for clarification.
Customer Level Price Book - This is used primarily to offer special pricing or discounts based on the static customer group. This is the highest level and if the price book applies to the customer, this one will be in place for the transaction (even if another discount is for a greater amount)
Venue and Store Level Price Book - This is used for a more general exposure to the discounts or special pricing, as it will apply to all customers purchasing the selected items.
You can select individual items in the price book or enter departments, categories, or even specific attributes to be discounted as a whole - every item in the selected department would have the discount.
Select items at a Group Level for the price book (this is for special pricing at the department, category, sub category, or attribute level)
Select items at a Discount Level for the price book (this is used for changing the value of the discount for the store or venue it is attached it)
Select items at a Coupon Level for the price book (this is used for changing the value of the coupon for the store or venue it is attached it)
When the price book is no longer wanted at the store/venue, it can be removed on the CAS --> Management --> Hierarchy --> Modify Hierarchy --> (Store or venue). Select Price Book and select "None" from the drop down menu).
When the price book is no longer needed at all it can be made inactive on the CAS --> Management --> Transaction Codes --> Modify Transaction --> (Price book). First it must be removed from use before it can be made inactive.
Since the how to has been covered, Merchants need to know the why and when to use a price book. Price books can either be active for a long time with modifications made to update the items or discount; or can be set for sale or limited amount of time. Either way the time frame isn't applied directly to the price book but is when it is active and saved to a store or venue. So if a merchant is using the group level price book for a week long sale, the price book will be applied for the time of the sale, then removed from either store or venue level.
Also keep in mind of where one would want to set a price book, at the store level or venue level. Store level will just effect the store that it is assigned to, while Venue will effect all stores found with in the venue. The same price book can be applied to different stores and venues. So the merchant would need to know where they would like the price book to take effect. So if it is going to be a sales for west coast stores and they are all found in the same venue, one would set it there. If it was only going to be applied to 3 out of 5 stores, it would need to be set at a store level for those locations.
Once where the price book is going to be applied is known, next you will need to know which level of discount or new price you are going to give. Much like deciding when items should be discounted, you can implement single items at a new price or an entire group of items at a single discount. You can select multiple classifications with in a group to provide the best range of a discount.
Price book is going to replace the need for a set discount, but it can make it easier for setting limits to discounts or to which customers will receive a discount.
On the POS
A discount transaction is recorded on the Daily Sales Summary, since the discount is set at and item level not at transaction level (applied to all items rung up) it appears on the discounted totals for the transaction. Price book discounts work much in the same way for reporting as an automatic coupon. Even though it was brought up automatically doesn't mean that it won't be recorded in the reporting.
For items that have had an updated price it will not note those as a discount, since that would be applied the same as if the price was changed at the POS.
On the CAS
On Reports such as the Periodic Sales, items that have been discounted will be noted and show the discounted amount in the discounted column, it will show all discounted amounts as a total for the item. So if the item is found within multiple price booked or was discounted at the POS it will be totaled for the item.
On Reports such as Discount Transaction, it will total by how many times the discount was used, so if the same items are found with in multiple price books set at different discount levels and codes it will total based on the code and how many times it was used.
Access
Access to this function at an enterprise level is limited by default to the System Administrator and Financial users only. Accounting, store managers, warehouse general managers as well as zone managers and human resource managers may modify price book settings at Venues or Store assigned to them.
Only one Price Book can be assigned to a store, to make additions or modifications to a price book that is assigned to a store, modify the existing price book using the Modify Transaction codes menu.
Carefully verify the items entered, if you enter an incorrect item id, the entire transaction is rejected and you will need to begin again.
Inventory Balance Report tip: If a store or a venue has a price book attached to it, then the inventory balance report for that venue or store will reflect the price book price as the selling price. Enterprise, Reporting Groups and Warehouse balance reports will always reflect the master item retail price regardless of price books applied to venue or warehouses within that group.
Last modified 3yr ago