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 Overview

The method of using standard price codes in Price Code Maintenance entails a price code with a single standard price schedule, consisting of a pricing method and discount or markup rate for up to five quantity breaks. A price code can be assigned to any number of items to determine the pricing for those items (one price schedule for each price code). It is used if separate price schedules are not needed for different types of customers.

To define a standard price code

1. Select Inventory Management Setup menu > Price Code Maintenance.

2. In the Price Code field, enter a new price code. Standard appears next to the Price Level field. For more information, see Price Code Maintenance - Fields.

3. In the Description field, type the price code description.

4. In the Pricing Method field, select the pricing method.

5. In the grid, type the discount or markup rates and the "to quantity" values for up to five quantity breaks. The values in the From Quantity fields are set automatically.

6. Click Accept.

To apply the price code to an item, enter the code in the Price Code field of the item record on the Item Maintenance Main tab.

 Example - How Standard Price Codes Affect Calculated Prices

The following table illustrates how a standard price code affects the calculated price of an item.

Price Code	Price Level	Method	Quantity Break	Rate
AAAA	Standard	Discount %	From 1 and Over	5%
BBBB	Standard	Markup %	From 1 to 4	80%
			From 5 to 19	75%
			From 20 and Over	60%

Item Widget-10 has a standard price of $5.00 and a standard cost of $2.00.

If Widget-10 is assigned price code AAAA, the unit sale price is 5% less than the standard price, regardless of the units sold ($5.00 - 5% * $5.00 = $4.75).

If Widget-10 is assigned price code BBBB, the per-unit sale price for five units is 75% over the standard cost or $3.50 ($2.00 + 75% * $2.00 = $3.50). The per-unit sale price for 25 units is 60% over the standard cost or $3.20 ($2.00 + 60% * $2.00 = $3.20).