How to set up your price bands

The set up process

Watch a video

Setting prices (video)

Set up the Standard price band

This is set up for you by default. If you have one set of price that you use for all customers, you just need to enter a price for your stock items.

Things to consider:

  • All customers belong to the Standard price band by default.
  • All stock items belong Universal price bands.

Set up Universal price bands

These price bands have a price for all stock items. Set these up if you use more than one price list.

Things to consider:

  • A customer can only belong to one Universal price band.
  • When a customer is added to a new Universal price band, they are removed from an existing one.
  • Every customer must belong to at least one Universal price band. When they are removed from a price band they're automatically added back to the Standard price band.

Set up a Limited Price band

Use Limited price bands for promotional or special prices. Here you add the stock items that have a special price and choose which customers receive them. You can also choose whether these price bands are Active and set start and end dates and times. This allows you enter the prices in advance and choose when they come into effect.

Things to consider:

  • You can use both Universal and Limited price bands.
  • You choose which stock items to add stock items to these price bands.
  • Customers can belong to any number of Limited price bands.
  • You can chose a date / time period the price band is used in.
  • Once a price band has expired, you can activate it again by changing the date / times.
  • You can make a price band inactive so it's not in use.
  • The price in the Limited price band takes priority over a price in a Universal price band.
  • When a customer is eligible for more than one limited price, the lowest price is used.
  • When a customer returns goods, the current price is used by default on the return, This may be different to the price on the original order, particularly if you're using time limits on your price bands.

Set up mark up prices

Use mark up prices to set a selling price based on an items cost price. Here you set a selling price that's a percentage increase on the cost price.

Things to consider:

  • Mark up prices are applied to all items in a product group and not by individual stock item.
  • Once a stock item has a mark up price, you can't set a price or a discount for it.
  • Mark up prices are applied to all customers.

Foreign currency price bands

You can also set foreign currency prices for stock items. To do this you'll need to set up a currency price band. Only customers using the same currency can be linked to the price band.

If you don't set up currency price bands, then the item price is converted from your base currency.

Importing and exporting selling prices

A quick way to update the prices of your stock items is by importing and exporting them to an Excel spreadsheet via a CSV file.

Tips

Check and validate your prices

Now you've set up your prices, you might want to check a few things:

  • Are the prices you're charging making enough profit?
  • Are your selling prices more than the cost price?
  • Are the total discounts more than the selling price for any items?

Use the Validate prices screen to check whether your selling prices make enough profit, are more than the cost price and there aren't any discounts that result in a negative selling price.

You can run this at any time. Sage 200 prompts you check this each time you change any prices or discounts. Two reports are produced if any of your prices fail the checks.

What do you want to do?