An organization can specify multiple possible prices for a product by creating a matrix of Prices records. The Prices record is only accessible from the Prices tab on the Products record.
Comments Tab
The Comments tab displays any additional comments relevant to the Prices record.
Currency Tab
Currency Type (Required)
The Currency Type field identifies the currency type for the specific Prices record. The default value is US Dollar. When setting up foreign currency records, if you specify the price on the record, it is expressed in this currency.
Accepting multiple currencies can introduce many other complexities that need to be well thought out according to each organization's business processes. Please review the Foreign Currency Transactions and Foreign Currency Concepts chapters in the Aptify 5.5 Accounting and Financial Systems Integration Guide for information on foreign currency transactions in Aptify and contact Aptify to discuss your foreign currency requirements, if appropriate.
Derived From Currency
The Derived From Currency field is used for determining a price in a foreign currency at the current spot rate stored in the system. This functionality converts a price to a different currency at the time of purchase.
If the price is to be derived from another price record, enter 0 in the Price field and enter the currency type that it is derived from (a price record with the same criteria) in the Derived From Currency field. This currency type must be listed in a corresponding Prices record that has a valid price. See Creating a Derived Currency Price for details.
Filter Rule Tab
You can create one or more filter rules if a particular price only applies to an order line under certain conditions (beyond the standard criteria specified on the Price's General tab).
For example, this price may only be available to companies located within a certain set of U.S. states, such as an East Coast price. Then, a second corresponding Prices record could exist to specify a price for West Coast states.
Creating a filter rule is very similar to creating a filter for a view. See Creating Product Filter Rules for details.
General Tab
Name (Required)
A name to identify the Prices record is stored in the Name field. This name appears in the price selection drop-down list on an order line.
Price (Required)
The Price field contains the dollar amount for the price.
Includes Tax (Required)
When selected, the price includes any applicable sales tax amount. See the Sales Tax chapter of the Aptify 5.5 Accounting and Financial Systems Integration Guide for information on this option.
Default (Required)
When selected, this price is the default price for the product (in the specified currency). If a customer/member does not qualify for any of the Prices in the Product's price matrix, then the system applies the default price to the order.
Note that if you do not select a default price for a particular currency and the order does not match any of the existing prices in that currency, the Order Entry system selects the highest price from the set of available prices in the matrix.
For best results, each product's Pricing Matrix should have only one default price for each supported Currency Type. Although not necessarily recommended, you can also define multiple Default prices for a single currency with a date-based filter. In this case, specify a date range to determine which price is the default on a particular day. If the current date does not fall within the range for any of the configured default prices, then the system will select the first default price (that is, the price with the lowest Sequence). Note that this selection criteria only applies when selecting among the default prices (in other words, this only happens if an order line does not match any of the other prices).
Member Type (Required)
The Member Type field contains the Member Type for which this price is valid. Persons or companies with this member type are offered the price on this record when ordering the product.
Include Sub-Member Types (Required)
Select this option to apply this price to any sub-memberships for the type that appears in the Member Type field. For example, if your organization has multiple Member Types that are members (such as Provisional Member and Lifetime Member), and these types have a Parent of Member, then a Member price is applied to these sub-memberships when the option is selecteded.
Type (Required)
The type of price in this record is stored in the Type field. Default options include: Regular, Base Price, Percent of Base, and none. Generally, the Type field is used in conjunction with pricing matrices. The default value is Regular.
Percent of Base
If you set type to Percent of Base, specify a percentage of the base price in this field. The system will calculate this price for you automatically. See Creating a Percent of Base Price for details.
Start Date
A beginning date to specify when this price is valid. This can be useful for setting up special date-specific prices such as early registration, discounts, or late registration premiums.
End Date
An ending date to specify when this price is no longer valid.
Minimum Quantity and Maximum Quantity
These fields define the minimum and maximum quantities for which the price is valid. These fields are used to set up volume discounts. It can be useful to set up several of these prices with price breaks for each range. To show an infinite maximum quantity, enter a minimum quantity for the range and leave the maximum quantity field blank. For example:
Min Qty = 1 | Max Qty = 9 | Price = $10.00 |
Min Qty = 10 | Max Qty = 19 | Price = $9.00 |
Min Qty = 20 | Max Qty = 29 | Price = $8.00 |
Min Qty = 30 | Max Qty = BLANK | Price = $7.00 |
If a quantity is not identified in the pricing matrix and that quantity is ordered, the price on the order will be for a zero dollar amount. To prevent a zero dollar amount from occurring, the pricing matrix needs to account for all quantity ranges or have a Prices record marked as the Default.
Pricing Rule
This field identifies the Pricing Rule that is used. This record allows for more parameters to be defined or considered when determining the price of a product for the consumer. This field links to the Pricing Rule service. When specified on a Prices record, this rule only applies to that specific record within the context of a larger Pricing Matrix.
Description
A brief description of the price is entered in the Description field.
Rounding Tab
The Rounding settings only apply if the a price is calculated as a percentage of a base price. See Creating a Percent of Base Price.
Rounding Type (Required)
Determines the Rounding Type behavior. Select from following options:.
- None: No Rounding.
- Neutral: The system rounds the price up or down to the nearest value based on its relationship with the value of the Rounding Amount field. If the calculated price is not evenly divisible by the value in Rounding Amount, the system modifies the price as follows: If the difference between the price and the next lower amount that is evenly divisible by the Rounding Amount is less than half of the Rounding Amount, the system rounds down the price to the next lower amount. Otherwise, the system rounds up the price to the next higher value that is evenly divisible by the Rounding Amount.
- Up: The system always rounds the calculated price up to the nearest value that is evenly divisible by the Rounding Amount.
- Down: The system always rounds the calculated price down to the nearest value that is evenly divisible by the Rounding Amount.
Rounding Amount
This field specifies the amount by which the calculated price should be rounded. For example when working with U.S. Dollars, enter 0.01 to round to the nearest cent or 1 to round to the nearest dollar.