1. Default Pricing #
All product types documented above make use of a uniform method of pricing, to set the pricing for a product click on the PRODUCT PRICE tab.
The rows represent the type of price (Sales price, purchase price) for each price list.The columns represent details about the type of price. Only Including or Exclusive columns need to be updated, the alternative column will automatically calculate based on the default tax category.
- Standard Price: The standard retail price.
- Limit Price: The limit price prevents an item from being sold below its value, this prevents users who are allowed to give discounts from discounting more than the limit price.
- Purchase Price: Last known purchase price, this will automatically update at the next Recieve Goods (See Purchases > Recieve Goods).
2. Price Lists #
Pricelists are the manner in which POSibolt automates and differentiates between vendors and customers at the pricing level, a price list can be a collection of Item Prices either for sales or purchases.
Price Lists are generally used in scenarios where you have different prices for different customers like Retail, Wholesale and different currencies, etc.
In POSibolt, all the Item Prices are stored separately. The Purchase Price for an item is different from the Selling Price and they are therefore stored separately. A default sales price list and purchase price list exists for all new clients. To create, amend or de-activate a price list.
- Navigate to main menu > Administration > Price List
2. Click on the 
button to add a new price list
- Enter the Price list name.
- This price list name can be seen at the product administration level for easy reference (e.g Online).
- Choose the currency if applicable (Currency conversion is required to make additional currencies available in POSibolt, please see Accounting > Currency Conversion).
- Enter the Price List precision, precision is used to define the amount of decimals, for example, to allow the price list to make use of cents, set the precision to 2.
- Choose the base price list (If applicable), this is a current price list that you can use to base this new price list off of.
- Markup percentage
When a base pricelist is selected, the markup percentage will create the new pricelist with values based on the markup from the selected base pricelist.
- Pricelist Type: Select Purchase Pricelist if the pricelist is for use with vendors or Sales Pricelist if it used for customers.
- Is active: To enable this pricelist for use.
- Is Default: When set, at a transaction screen, if no customer or vendor belongs to a particular pricelist, this price list will be used by default.
- Present for product: Will display the price list in the product administration screen to allow you to edit it individually for each item.
- Price include tax: Will calculate the tax excluded amount from inclusive price.
- Mandatory checkbox: Will force you to enter a price for this price list when creating a product in the product administration screen.
- PRESS SAVE
3. Purchase Price Lists can now be assigned to vendors and Sales Price Lists can be assigned to customers; When the customer or Vendor is selected at a transaction screen, their assigned price list will load by default, eliminating the intervention of a cashier to change prices for specific customers.
3. Price List Schema #
In POSibolt, the price list schema is used to update the item prices using a customisable formula, Once setup, the Price List Schema can be used to update diffirent price lists by using the base pricelist defined for the pricelist and applying the schema to it to update the values.
- Navigate to Administration > Price LIst Schema.
2. Click on the 
button.
3. Enter the Schema Name for easy reference at the price list screen.
4. Enter the 
button to add the rules.
- Schema Rule: Rules can be created for a particular product category, group 1 or group 2.Here, you can mention different discount percentages for the standard price and limit price.
- You will notice that there is a discount column, which will lessen the prices based on the values inputted here, If you would like to use a price list schema to mark up, you may use negative discount values instead.
- If you want to add any extra amount after the discount percentage to the price, put the amount in the surcharge field.
- Below is an example of a staff price list schema that will be used to create a new staff price list with the formula of default Sales Price Less 10%.
PRESS SAVE
5. How to update the prices in a pricelist using price list schema
- At the price list screen (See price list section in this article).
- Click Create Price List.
- Select the base price list you would like to use as a foundation then select the schema.
- Selecting Delete old records will remove existing prices from the price list, if you applied a price list schema for the price list previously, and update it with the new prices based on the schema applied to the selected base price list.
- Navigate to product administration to view the updated prices for the price list.
