The Pricing History is a new feature in MOD2 wherein different
price levels such as true cost, static price buckets, suggested markups, as
well as past invoice prices may be seen. This feature is especially useful to
owners, managers, and the production department of the company. Having a record
in MOD2 of the company's
pricing history enables users to quote prices more accurately knowing that it
displays the previous charges they have issued for particular items and
customers. It is a powerful tool that top-level
managers could use to further enhance the flexibility of their item
The image above is a screenshot of the main screen of the pricing
history. This feature can be found under History options of a particular inventory item.
When you display the pricing history
of a particular inventory item, it
will show you various price information on that item.
Price, Selling Price, Retail
Price, and Wholesale Price are just
price buckets where you could enter in the values. It's good for reference.
True Cost is the weighted average of the item including all associated expenses, duties, and surcharges. Below the True Cost are mark-ups which are helpful price suggestions.
You are also showing 12 months statistics which indicates the average, lowest, highest, and most recent price among your customers. Finally, at the bottom you can see the recent history of transactions for the item.
Another cool thing about the Pricing History is that when you make a new sales order for an item, it will display the last price you sold the item at. You will now have an idea and suggestion on what price to set that item for that client. It gives you the option to change the price of that item or to sell it with the same price. If you do not want to select one of the listed prices, you can enter one manually as shown below: