Product Setup - Pricing field descriptions

Fields are presented in alphabetical order within each section.

Click one of these links to access that section:

Pricing

Special Price

Extended

Service Warranty

Tariffs

Pricing

Alternate Product Price Code

Alternate Product Price Code field is also included in the Product Inquiry and on the Product Master List Report and Product Catalog Product Master List Report. The alternate product price code is copied to products created from nonstock items in Sales Order Entry if a code exists in Product Catalog Setup.

Apply Terms Discount

If product-specific terms discounts are used in Sales Order Entry, specify the percent of the terms in this field. Product-specific terms discount is used if the term is established as line based in Use this field to specify an alternate code for a product, up to four alphanumeric characters. The SA Table Code Value Setup. If you established line-based terms in SA Table Code Value Setup and the discount percent for this product differs from the standard terms percent set up in SA Table Code Value Setup, specify a terms discount percent here.

Exclude From Auto Vendor Reprice

Select this option to prevent the product from being repriced through the automatic purchase order repricing feature. If you do not select this option, the product is repriced on a purchase order when these conditions are met:

  • An auto reprice percentage is specified on the Vendor Setup record for the vendor on the purchase order.
  • A direct purchase order is created in Sales Order Entry, or auto vendor repricing is manually applied to the purchase order in Purchase Order Entry or Purchase Demand Center Entry.

This field is not available unless the automatic purchase order repricing feature is activated.

Multiplier

The multiplier is defaulted from the Based On field in PD Pricing Setup-Customer but it can be changed. This setting also defaults in Sales Order Entry if there are no PD records in the system. The multiplier determines if the price multipliers are multiplied against the product's base price, list price, or cost. The multiplier is only used if the PD Pricing Setup-Customer price multipliers are percentages, instead of amounts. It defaults to the Price and Discounting record from the product as each PD Pricing Setup-Customer record is added. The cost type in the Mark Up From field in SA Administrator Option-Products-Costs determines which cost is used in Product Warehouse Product Setup. Select Average, Standard, Replacement, or Last.

Price Book Sequence #

The price book sequence number is used by the PD Customer Pricing Report and PD Price Books Report. The price books often resemble product catalogs distributed to your customers. Use the sequence number to customize the order in which the products are displayed in the price books. This is beneficial in making the price books look like a product catalog that you developed.

Round By

Sales Order Entry uses the Round By amount to round the quantity ordered up to the nearest whole quantity you want to sell.

For example, you sell PVC pipe in lengths of 20 feet and do not cut the pipe. A customer must always purchase at least 20 feet. In Sales Order Entry, if the customer orders 10 feet (stocking unit = ft), when the order line is validated after the Quantity Ordered amount is specified, it is automatically changed to 20 feet. If the customer orders 31 feet, it is automatically changed to 40 feet, and so on. When you copy an order or quote that contains a product that did not have a round by value previously set, but does have a round by value now, Sales Order Entry rounds the quantity on the new order.

This is only valid if you order in stocking units. If you order in any other unit, this field does not apply.

Note: The round by value is not used to calculate quantity if the line is a return.
SL Date

This date reflects the most recent Product Import import date that involved this product even if Product Setup, Product Warehouse Product Setup, or Product Catalog Setup records did not change. Use this date to identify the last data a product was in an update file or updated by Product Import.

Supplier Group

If you are using the Product Import module, specify a supplier group in this field. The Supplier Group field is validated when pricing update files are imported and updated in the PI Entry Edit Product Update.

Multipliers that are used in calculating prices and costs for each product imported in Product Import are based on the supplier group. These multipliers are set up in PI Price/Cost Multipliers Setup. When a price file is submitted by your supplier or third-party service provider, and transferred onto your system. The system checks the supplier group in this field for existing products. If this field is left blank, or does not match a PI Price/Cost Multipliers Setup record, this product is not updated with the new pricing information.

Special Price

Price/Cost Per Stock

If you select Yes, Thousand, or Hundred in the Special Price/Cost field, this field is required.

Specify the unit conversion factor used in Sales Order Entry to determine the price of the product. If you select Yes in the Special Price/Cost field, the conversion factor is used to determine both the sales order price and the cost of the product.

If you select Thousand in the Special Price/Cost field, specify .001. This converts the cost in Product Warehouse Product Setup to an each value by multiplying by the conversion factor and dividing by 1000. The Product Warehouse Product Setup price is converted to an each value by multiplying by the conversion factor.

If you select Hundred, specify .01. This converts the cost in Product Warehouse Product Setup to an each value by multiplying by the conversion factor and dividing by 100. The Product Warehouse Product Setup price is converted to an each value by multiplying by the conversion factor.

If you specify zero, it is changed to a 1 to avoid division by zero errors.

Access to the Price/Cost Per Stock field requires that you have supervisor status. The Supervisor Status field is set in SA Operator Setup.
Note: You cannot change the value in this field if balances exist in Product Warehouse Product Setup. See the description of the Special Price/Cost field.
Special Price/Cost

A special costing product is one that is billed from the vendor in terms of a unit that is not simply a multiple of the selling unit.

The Special Price/Cost field can be set to Yes, Thousand, or Hundred. Depending on your selection, the special price and cost is updated by a factor of one, one hundred, or one thousand, respectively:

  • Yes: If you select Yes, this field is used to determine not only the price for Sales Order Entry, but also the cost of the product for Purchase Order. This allows you to take advantage of the special price/cost feature if thousand or hundred costing is too restrictive. The quantity on the line is multiplied by the unit conversion and the Price/Cost Per Stock.
  • Thousand: If you select Thousand, specify .001 in the Price/Cost Per Stock field and the product is priced per thousand. The extended price in Sales Order Entry is based on the number of special units per stocking unit.

    For example, suppose you stock electrical wire. The item is set up with these values:

    Stocked by the foot or reel - FT or RL

    Purchased by the foot - FT

    Standard pack by the reel - RL

    Prices and costs per 1000 feet - MF

    A reel of electrical wire contains 250 feet. Your replenishment process suggests buying 400 feet to meet demand, but the system would round up and suggest ordering 500 feet to avoid the charge for an incomplete reel. Your cost on the electrical wire is $650.00 per MF, resulting in a per reel cost of $162.50 and 65 cents per foot. You sell the wire for $1300.00 per MF. If a customer orders 75 feet, their price is $1300.00 per MF for a net of $97.50. Their invoice shows $1300 C for price and $97.50 for net.

  • Hundred: If you select Hundred, specify .01 in the Price/Cost Per Stock field and the product is priced per hundred. The extended price in Sales Order Entry is based on the number of special units per stocking unit.
A prebuilt or build-on-demand kit, and any or all components, may also have a special price/cost. A special costing transaction is calculated depending on the Product Setup Special Price/Cost setting. If this is Yes, Hundred, or Thousand, the special cost is updated by a factor of one, hundred, or thousand, respectively. The cost for kit components set up for special cost is calculated with this formula:
  • ICSW Cost * [(ICSP Price/Cost Units Per Stock Units) / (1, 100, or 1000)]

For example, kit ABC contains two components. Component 1 has an Average Cost in Product Warehouse Product Setup of $5.00. The Product Setup Price/Cost Per Stock is Hundred and 1. The component's cost is calculated as follows:

  • [(5 * 1) / 100] = .05

Component 2 has a Product Warehouse Product Setup average cost of $18.50. The Product Setup Price/Cost Per Stock is Yes per .001. The component's cost is calculated as follows:

  • [(18.50 * .001) / 1] = .0185

If the kit product is not set up for special cost, its cost is the total of component costs, which would be $.0685. If the kit product is also set up for special costing, its cost is calculated with this formula after its components have been costed.

Total of component special costs / Kit ICSP Price/Cost Per Stock * (1, 100, or 1000)

To continue the example from above, suppose the Product Setup Price/Cost Per Stock for the kit is Yes per .001. The average cost of the kit by rolling components is calculated as follows:

  • [(.05 + .0185) / .001] * 1 = 68.50

Component costing is determined per stocking unit. If the kit cost is a negative amount, updating does not occur.

Changing this field after a product has been set up could have a serious effects on your records. Refer to the caution that follows for details. When you change this field, these records are affected:

  • Product Warehouse Product Setup
  • Product Extended Product Cross Reference Setup
  • Product FIFO Setup
  • Product Extended Lot Number Setup
  • Product Extended Serial Number Setup
  • Product Special Price/Cost Setup
  • PD Pricing Setup: Customer, rebate, and vendor records

Because journals may be involved, these conditions are in effect:

  • A journal posting may be required in Product Setup if the special price/cost information changes. You cannot jump to Product Setup if a journal is open.
  • If a journal was open in Product Setup, this message is displayed:

Differences Due to Special Price.Cost Change Posted to Journal ####

The journal is automatically opened and closed, so no action is required on your part.

  • A journal is only opened if there is a difference between the inventory value before the special price/cost change and the value after the change. Postings are made to the Inventory and the IC Cost Adjustments accounts. The reference on the GL Transaction Entry adjustment is ICSP Adjust for ICSS Chg or PIEU adjust for ICSS Chg, depending upon which function was run.
  • Because inventory value, not the inventory level, was changed, you must print the journal information from the GL Entry Journal Print Report and view the information in GL Journal Inquiry.
  • If the No Journal Open message is displayed, run Product Trial Balance of Stock Inventory Report to determine if manual postings are required.
Note: Contact Infor Support Services before you attempt to change the Special Price/Cost and Price/Cost Units Per Stock Unit fields for an existing product record to discuss the effects that the changes have on your inventory, history, purchasing, orders, inventory, Pricing and Discounting, and General Ledger records. This message is displayed when you make changes to the fields and save the product record:

WARNING: Changing Special Price/Cost – Manual GL Change May be Required 

The information in the above-mentioned fields cannot be changed if balances exist in Product Warehouse Product Setup. Changing this information when balances exist in the Reserved, Committed, Backorder, On Order Received, or WT In Transit/Ship Requests/Rcv Requests/Demand fields would cause an out-of-balance condition between Inventory Control and General Ledger. In addition, you do not have access to the Special Price/Cost and Price/Cost Per Stock fields unless you have supervisor status.

Special Price/Cost Unit

The actual special unit for this product. The unit is basically symbolic in nature and provides a label for the special unit conversion previously specified.

Note: This unit is generally not entered in Sales Order Entry unless it is set up in the SA Table Code Value Setup or Product Extended Unit Conversion Setup. If it is set up in one of the tables, specify the unit conversion the same as it is set up here! Setting it up differently is confusing during Sales Order Entry and it increases the chance for mistakes.

If you change the special price/cost of a product, active and inactive transactions already in the system retain the special price/cost in effect at the time of entry. New sales orders, purchase orders, and so on that are entered after the change has been made reflect the new special price/cost information. Any calculations using the special price/cost of a product use the special price/cost in effect at the time of entry. These modules are affected when you change this field:

  • Product Warehouse Product Setup
  • Product Extended Product Cross Reference Setup
  • Product FIFO Setup
  • Product Extended Lot Number Setup
  • Product Extended Serial Number Setup
  • PD Pricing Setup: Customer, rebate, and vendor records

In Sales Order Entry, the prices and discount are multiplied by the special unit conversion to arrive at the correct price and discount.

Example:

Customer #1 places an order for 1 roll of PVC pipe. The Product Setup record is set up as box. Price/Discounting has a pricing record based on Lb. The Sales Order Entry price and discount is determined by finding the Price/Discounting record and multiplying the price and discount by the Product Setup special unit conversion.

Sales Order Entry Product Setup Price/Discounting
Customer #: 1 Product: PVC Customer #: 1
Product: PVC Stock Unit: Box Product: PVC
Unit: Roll Special Price/Cost: H Unit: Lb.
Price: $50.00 Special Conversion: 10.0 Price: $5.00
Discount: $5.00 Special Unit: Lb. Discount: 10%
Price = $5.00 x 10 Lbs. = $50.00
Discount = $5.00 x 10% x 10 Lbs. = $5.00

Extended

Core Charge

Core is usually associated with items such as batteries, alternators, water pumps, starters, and so on. When customers purchase a new product, they are charged for the core until they return it. Then you reimburse them for the amount of the core. Generally, when you offer reimbursement, it is because you can return the cores to the manufacturer or your supplier for credit.

Core charges are only applicable in Sales Order Entry. They can be entered on Counter Sales (CS), Stock Orders (SO), Return Merchandise (RM), and Credit Memos. The total core charge is also included in the addon amount in Sales Order Entry - Tendering along with the product surcharge. The core charge can be overridden in Sales Order Entry - Extended if the core charge on the product is greater than zero. If it is initially zero, it indicates the product does not have a core charge. Products with core charges cannot be a kit component.

Core charges are tracked by their own General Ledger account code. When the Sales Entry Invoice Processing Report is run, the OE Core Charge account that is stored on your SA Operator Setup record is updated with the amount of the cores for each order.

Length of Warranty

The actual period of time the warranty is valid. For example, two days, two months, or two years.

Warranties are useful for serialized products. The warranty expiration date is stored with each serialized product set up in Product Extended Serial Number Setup. If a serialized product is returned, use the original date of sale and the date the warranty expires to determine if charges can be applied for repairing/handling the product.

Warranty

The warranty period is represented by days, months, or years. This field works with the Length of Warranty field. The warranty period describes if the warranty is good for a specific number of days, months, or years.

This becomes the standard default when creating new warehouse products in Product Setup from catalog records and may be overridden when necessary. This field is not used by Product Line Setup or Product Warehouse Product Setup for any other setup defaults.

Service Warranty

Auto-Create

Select Yes, No, or Optional to identify a product as needing setup (upgrades, additional labor, and so on.)

If the product always requires assembly or setup, select Yes to automatically create a Service Repair Order (SRO) each time the product is entered in Sales Order Entry. You are forced to the SW Print Information window during transaction entry. The SRO that is created contains the customer information from the sales order and a default job type from SA Administrator Options that normally corresponds to billable work. The SRO is tied to the sales order. An SRO line is created for each unit sold.

If: Then:
The product is serialized or lotted, These numbers should be entered in Sales Order Entry, in which case they default to the SRO.
A product needs setup information the majority of the time, Consider selecting Yes and canceling the SROs you do not require. This expedites the order in Sales Order Entry.
The product never requires assembly or setup, Select No. When a customer orders the product through Sales Order Entry, you do not have the option to create the SRO. If an SRO is needed, it must be created manually.
The product sometimes needs assembly or setup, Select Optional. When a customer orders the product through Sales Order Entry, the SW Setup Information window appears.
The product requires setup and a remanufactured core product is used as a parts/labor on the tied SRO, The associated implied core charge is automatically added to the next line item.
Deliver To

The bin location the finished product should be delivered to. The field divisions represent building/row/section/shelf. This is not validated against any setup functions. Any information that is specified here is displayed on the Extended view for the setup product on the SW Transaction Entry- Line Items view.

Hours

The estimated time needed to complete the setup for one unit of this product. All setup hours are totaled for the setup products and are copied to the tied SRO header to aid in the scheduling process.

Job Type

The job type code. The code is validated in SW Job Types Setup. This defaults to the job type for the SRO line that is created and determines if the service work to be performed is billable, warranty, or internal work.

If the customer is to be billed for any labor or parts involved in the setup, ensure that the job type that is selected is a billable job type. Billable work is priced according to your standard system pricing matrix.

You can segregate your assembly and warranty claim activities on your General Ledger. Use the Product GL Distribution Setup function to post to different accounts, based on the product categories specified. By setting up different product categories for the assembly/setup and warranty claim activities on the SW Job Types Setup record, you can track the profitability of the activities. Whenever you must post to a particular account, change the job type on the SRO line.

SRT Applies

Select this option if the product on the Product Setup record is a labor product that identifies a specific task with associated allowed hours. When a product that is identified with a Standard Repair Times (SRT) code is specified in the Parts/Labor window of SW SRO Transaction Entry, you are prompted for the number of times this task was performed. This quantity is multiplied by the allowed hours to obtain the total quantity for the line item. You can override this calculated amount or you can retain the default.

For an SRT labor product, the billable or warranty work status is determined from the charge code specified on the SW Job Types Setup record. If the job type on the line identifies this as billable work, the List Price in Product Warehouse Product Setup is used for pricing the SRT work that was performed. If the job type identifies warranty work, the Base Price in Product Warehouse Product Setup is used.

An implied core product is a labor product, but you should not use SRO time entry and tracking for it.

SRT Hours

Allowed repair times for specific service tasks. These may be allowed times that are provided by the manufacturer for warranty work or times which your company has established for these specific tasks. Specify an estimated amount of time to perform one operation, expressed in decimal hours.

For example, if it takes one hour and 30 minutes to perform one operation, specify 1.5. If it takes three hours and 45 minutes to perform one operation, specify 3.75.

Tariffs

Country of Origin

Use to assign the Country of Origin. That is, where a product was manufactured, produced, or grown. When used in conjunction with an HS Code or tariff code, it further defines the criteria for a particular rate. You can set up country codes in SA Table Code Value Setup.

Harmonized System Code

You can use this field to assign HS Codes or other types of tariff codes to a product. A harmonized tariff code is part of the Harmonized Commodity Description and Coding System that was created by the World Customs Organization (WCO). A logical nomenclature method is used by the HS system to categorize goods into approximately 5,000 commodity groups. Countries often assign customs duties based on the harmonized tariff code of the product. You must set up the HS Code in SA Tariff Rate Setup.