Add and Edit Merchandise Price
Clicking the Add icon on the Price child form opens the Add Merchandise form, which allows you to configure price information and set G/L account information.
Adding Merchandise Price Information
To add a Merchandise Price:
1. Follow the path listed above.
2. Click the Add icon. The Add Merchandise form opens.
3. Fill in the Price Information section as described in the table below:
| Field Name | Required? | Description |
|---|---|---|
| Product Name | Read Only | Defaults to the name of the Merchandise and cannot be edited. |
| Price Code | Optional | Enter the identifying code for the Merchandise, up to twenty characters. |
| Type | Read Only | Defaults to the Merchandise type and cannot be edited. |
| Display Name | Required | Defaults to the friendly name for the Merchandise. |
| Start Date | Optional | Enter a date for this price to start if applicable. |
| End Date | Optional | Enter a date that this price will end, if applicable. |
| Price | Required | Enter the dollar amount you would like to charge each customer for this price. |
| Minimum Quantity | Optional | Enter a minimum quantity if you intend to set up a bulk discount pricing structure. |
| Maximum Quantity | Optional | Enter a maximum quantity if you intend to set up a bulk discount pricing structure. |
| Email Template | Optional | Expand the drop-down menu and select the correspondence template to be used with this price. This is the email that will be sent to the customer who incurs this price. You must create a correspondence template for this purpose in the Marketing module. |
| Do Not Discount | Optional | Click the Do Not Discount check box if you do not want this price to ever be discounted. |
| Award Credit Flag | Optional | Custom functionality; not used at this time. |
| Shippable | Optional | Select this checkbox if your product will be shipped. |
| Sell online | Optional | Select the Sell Online check box if the price (and product) will be available online. Selecting this check box also prompts the Online Abstract button so that an online abstract description may be entered. |
4. Select one or more methods by which to send the invoice in the Send Via section.
5. Fill in the G/L Information section as described in the table below:
| Field Name | Required? | Description |
|---|---|---|
| MIP GL Segment Overrides | Optional | If you are on a price belonging to a Business Unit that has a MIP Integration configured, Clicking this link will display the MIP GL Segment Overrides popup, which gives access to the segment override dropdowns. |
| Business Unit | Read Only | This field defaults to the business unit of the product and cannot be edited. |
| Project | Optional | The Project field is an accounting code reference, not a billable time entry project. |
| A/R Account | Required | Select the account for Accounts Receivable from the drop-down box. The account you choose is debited every time you sell a Merchandise. |
| Split Revenue Among Multiple Accounts | Optional | To split revenue, select the Split Revenue Among Multiple Accounts checkbox. If revenue is split, then those revenue accounts will need to be set up under the Price Profile. (Go to the Merchandise Profile > Price child form and click the Goto arrow to go to the Price Profile.) |
| Revenue Account | Required | Select the account for revenue from the drop-down box. This account is credited when a Merchandise is sold (non-deferred price) OR when revenue is recognized (deferred price). |
| Liability Account | Required | Select the account for liability from the drop-down box. This account is credited when a paid invoice is cancelled. |
| Return Account | Required | Select the account for return from the drop-down box. This account is debited when an invoice is cancelled. For most associations, the return account is the same account used for the revenue account. |
| Write Off Account | Required | Select the account for write off from the drop-down box. This account is debited when you create a write off. This is typically either an expense account or the revenue account for the product. |
| Deferred | Optional | Click this check box if the revenue for this Merchandise must be deferred. Once the Deferred check box is selected, the Deferred Account and Date To Recognize Revenue fields display. |
| Deferred Account | Required | If this is a deferred price, then select an account from the drop-down box. This account is credited when a Merchandise is sold (deferred price only) and then debited when revenue is recognized. |
| Date To Recognize Revenue | Required |
Enter a date on which the deferred revenue will be recognized. |
6. Click the Save button to add Merchandise price and return to the Profile.
Click the Cancel button to return to the Profile without saving Merchandise price.
Editing Merchandise Price Information
To edit a Merchandise Price information:
1. Follow the path listed above.
2. Click the Edit icon next to the price record on the Price child form.
The Edit Merchandise Price form opens.
3. Edit the appropriate details in the relevant fields.
4. Click the Save button to update the Merchandise price information. Click the Cancel button to return to the Profile without saving the Merchandise price information. Click the Delete button to delete the Merchandise price record.
5. To disable the record, select the hide/disable record check box and click Save. This removes the value from all the drop-down lists.
Note: There is no show option to reverse the hide option. If you need to display the hidden value, you must add it again.