Overview
Go to CAS --> Management --> Transaction Codes --> Price Book
A price book is created when normal prices of items, discounts, coupons are modified for a specific Location. The unique pricing can be set not only at the item level, but can be applied to specific classifications, vendors, and customer groups. The user can discount their shoe department or all red sweaters. There is flexibility for discounting that allows for targeted promotions.
The price book can be applied to specific location, as the same store with locations across the country can have pricing specific to their region. A price book would be created if user wanted to make the prices higher in only west coast stores. The price book created would be a west coast stores price book.
The user has two options select the price book by group or by specific item number to create a price book. The user can also modify discounts or coupons on this screen as well by typing in the old value and the new value. This is done to allow items to be sold inside individual stores for different amounts than what is listed in the master item table. Using Group Level discounts the merchant is able to add specific discount to the department or attribute selected. User can select department, category,sub cat, or attribute then attached the discount to it. Once saved all merchandise is the selected department or attribute will be affected. All items that are in the discounted group that are created after the Price Book is in place will be included in the price book.
Once the price book has been created it needs to be added to a venue or store to take effect.
To add, go to CAS --> Management --> Hierarchy --> Modify Hierarchy --> (Store or venue). From this UI you can add the price book from the drop down selection.
Details
A price book is a feather in any merchants hat, it is an essential tools that allows merchants the ability to set a new price or discount level for certain items, a classification or attribute, or for a customer group.
Price Book Hierarchy
Once you have multiple price books in place it's important to know which price book will apply to the sales transaction. Consult the Price Book Hierarchy for clarification.
Customer Level Price Book - This is used primarily to offer special pricing or discounts based on the static customer group. This is the highest level and if the price book applies to the customer, this one will be in place for the transaction (even if another discount is for a greater amount)
Venue and Store Level Price Book - This is used for a more general exposure to the discounts or special pricing, as it will apply to all customers purchasing the selected items.
You can select individual items in the price book or enter departments, categories, or even specific attributes to be discounted as a whole - every item in the selected department would have the discount.
Select items at a Group Level for the price book (this is for special pricing at the department, category, sub category, or attribute level)
Select items at an Item Level for the price book (this is used when specific items are discounted)
Select items at a Discount Level for the price book (this is used for changing the value of the discount for the store or venue it is attached it)
Select items at a Coupon Level for the price book (this is used for changing the value of the coupon for the store or venue it is attached it)
When the price book is no longer wanted at the store/venue, it can be removed on the CAS --> Management --> Hierarchy --> Modify Hierarchy --> (Store or venue). Select Price Book and select "None" from the drop down menu).
When the price book is no longer needed at all it can be made inactive on the CAS --> Management --> Transaction Codes --> Modify Transaction --> (Price book). First it must be removed from use before it can be made inactive.
When to Use a Price Book ?
Since the how to has been covered, Merchants need to know the why and when to use a price book. Price books can either be active for a long time with modifications made to update the items or discount; or can be set for sale or limited amount of time. Either way the time frame isn't applied directly to the price book but is when it is active and saved to a store or venue. So if a merchant is using the group level price book for a week long sale, the price book will be applied for the time of the sale, then removed from either store or venue level.
Also keep in mind of where one would want to set a price book, at the store level or venue level. Store level will just effect the store that it is assigned to, while Venue will effect all stores found with in the venue. The same price book can be applied to different stores and venues. So the merchant would need to know where they would like the price book to take effect. So if it is going to be a sales for west coast stores and they are all found in the same venue, one would set it there. If it was only going to be applied to 3 out of 5 stores, it would need to be set at a store level for those locations.
Once where the price book is going to be applied is known, next you will need to know which level of discount or new price you are going to give. Much like deciding when items should be discounted, you can implement single items at a new price or an entire group of items at a single discount. You can select multiple classifications with in a group to provide the best range of a discount.
Price book is going to replace the need for a set discount, but it can make it easier for setting limits to discounts or to which customers will receive a discount.
The Difference Between Price Book and Price List
Reporting
On the POS A discount transaction is recorded on the Daily Sales Summary, since the discount is set at and item level not at transaction level (applied to all items rung up) it appears on the discounted totals for the transaction. Price book discounts work much in the same way for reporting as an automatic coupon. Even though it was brought up automatically doesn't mean that it won't be recorded in the reporting.
For items that have had an updated price it will not note those as a discount, since that would be applied the same as if the price was changed at the POS.
On the CAS On Reports such as the Periodic Sales, items that have been discounted will be noted and show the discounted amount in the discounted column, it will show all discounted amounts as a total for the item. So if the item is found within multiple price booked or was discounted at the POS it will be totaled for the item.
On Reports such as Discount Transaction, it will total by how many times the discount was used, so if the same items are found with in multiple price books set at different discount levels and codes it will total based on the code and how many times it was used.
Access
Access to this function at an enterprise level is limited by default to the System Administrator and Financial users only. Accounting, store managers, warehouse general managers as well as zone managers and human resource managers may modify price book settings at Venues or Store assigned to them.
Managing Price Books
Only one Price Book can be assigned to a store, to make additions or modifications to a price book that is assigned to a store, modify the existing price book using the Modify Transaction codes menu.
Carefully verify the items entered, if you enter an incorrect item id, the entire transaction is rejected and you will need to begin again.
Advanced users can also import price books .
Inventory Balance Report tip: If a store or a venue has a price book attached to it, then the inventory balance report for that venue or store will reflect the price book price as the selling price. Enterprise, Reporting Groups and Warehouse balance reports will always reflect the master item retail price regardless of price books applied to venue or warehouses within that group.
Price Book Hierarchy
With so many options, the user wants to make sure that discounts are set to reflect the pricing to the customers they are trying to target.
The following is the price book hierarchy. The higher level will supersede any price books set at the lower levels regardless of discount.
If the Customer level price book discount is 10% and store level price book discount is 20%, the customer level discount of 10% will apply, even though it is a small discount. The hierarchy determines which price book is in effect, the amount of the discount is not a factor.
CUSTOMER Level (HIGHEST LEVEL) - If a discount is applied at the customer level it will be the price book discount applied to the item. No other discount will apply
STORE Level - The store level price book discount will be applied if a venue or item level discount is also in effect
VENUE Level - The venue level price book discount will be applied if an item level discount is also in effect
ITEM Level - Any other price book will be applied over this discount
Customer Level Price Book
A merchant creating a loyalty program for their VIP static group customers, can create a price book where they can select t a few items or a group of items to be included with a new price or discount. When customers are added to the transaction and items are rung up that fall within the price book they will automatically be priced at the special price book pricing.
Say you have started taking customer information at the POS to create a mailer for promotions and new products, but would like to offer more incentive for customers who join or fall within a "VIP" setting. You could setup a discount for those customers, but then you have to make sure that when they come in that the cashiers know about the discount and what group gets the discount. What if there was another way?
You could setup a price book for the items that are being discounted, then apply that price book to the customer group that you wish to offer the incentive to. When they come to the register provide their name or customer number; then add items to the transaction; if the items are found within the price book set for their customer group it will automatically adjust for either a new price or discount. As the merchant, you get to provide the incentive without the head ache of a missed discount on a transaction.
Venue and Store Level Price Book
When price books are setup at the hierarchy level the system will look for items that are saved to price books at the store level, then at the venue level. So if the same items are found within a price book that is set at Venue and Store it will look at the store price to begin with. It will pull from store first until the price book has been modified or removed.
To add a Price Book to a store, on CAS go to Management --> Hierarchy --> Modify Hierarchy --> Select Store. Select the price book to attach to the store (note only one price book can be attached at a time).
To add a Price Book to a venue, on CAS go to Management --> Hierarchy --> Modify Hierarchy --> Select Venue. Select the price book to attach to the venue (note only one price book can be attached at a time).
Group Level Price Book
Go to CAS --> Management --> Transaction Codes --> Price Book
Group Level price books are designed to allow users to set a whole group of items found within a classification or attribute to a set discount code. The same apply for where the price book is set. All items found within a classification and attribute will be set to the discount for as long as the price book is active, versus setting it for individual items.
Merchants can also use price books to move their slow moving inventory. Let's say, it's summer time and you still have many jackets and scarves left. You can set a price book assigned to these specific categories (or sub categories) that would be sold at a lower price compared to your other products.
Merchants that have seasonal products that are out of season can be discounted automatically for different stores and location. So for the time that the discount is active, merchant can simply ring up the items and have them automatically discounted.
Item Level Price Book
Go to CAS --> Management --> Transaction Codes --> Price Book
Item Level price books are designed to allow users to set a discount on specific items from any department or other classification or attribute.
Difference between a Price Book and Price List
A price book is created when normal prices of items, discounts, coupons are modified for a specific location. The unique pricing can be set not only at the item level, but can be applied to specific classifications, vendors, and customer groups. The user can discount their shoe department or all red sweaters. There is flexibility for discounting that allows for targeted promotions.
The price book can be applied to specific location, as the same store with locations across the country can have pricing specific to their region. A price book would be created if user wanted to make the prices higher in only west coast stores. The price book created would be a west coast stores price book.
The user has two options select the price book by group or by specific item number to create a price book. The user can also modify discounts or coupons on this screen as well by typing in the old value and the new value. This is done to allow items to be sold inside individual stores for different amounts than what is listed in the master item table.
Using Group Level discounts the merchant is able to add specific discount to the department or attribute selected. User can select department, category,sub cat, or attribute then attached the discount to it. Once saved all merchandise is the selected department or attribute will be affected.
Once the price book has been created it needs to be added to a venue or store to take effect. To add, go to CAS --> Management --> Hierarchy --> Modify Hierarchy --> (Store or venue). From this UI you can add the price book from the drop down selection.
The Post dated price list allows a user to change the price, tax or discount level of multiple items and have them updated at some future date . The price list is broadcasted to the online POS machines and will go into effect when the time on the POS passes the "Effective Date".
The effective date found for price list is the date that the price list will be active from. Price lists that have a future date will be modifiable until the effective date. From the effective date, the most current price list will be active, and won't be found for modification. Price lists can be used for updating a product price from a certain date forward. The price list drop down does not includes expired price lists.
A merchant with merchandise that will be set a different price for part of the year, can create a price list to be effective the June 1, 2012, that list will be modifiable until it's effective date. From that date forward the new prices will be in effect and the user won't be able to modify that list. They can however, create a new list, or Price Book;if they wish to be able to set the prices to be active and inactive.
While Price books and Price List operate similarly, they are two separate functions. They both have the ability to change prices, but accomplish that for two different enterprises. Price books are set at a location, they can be removed and placed at different hierarchy levels. So user can create them and re-use a price book by applying it and removing it from a store or venue. Price Books can also be applied for multiple stores, venues, and customer groups if need be. A price list is a static feature only one can be applied at a time, from it's active date.
While a price list will effect all prices set globally. So once a user has saved a price list it will effect how that item rings up from the active date on. Once a price book is set it can not be removed, but has to be modified. User that are looking to make CAS wide changes to a grouping of items can use the price list to do that, these will be changes that are going to continue from the active date until the price book is going to be modified.
In example: A merchant has stock that is seasonal, he is trying to push that stock out of inventory, he decides to deduct a certain amount form each items ranging from 5%-15%. These items will remain at this discounted price until they have left inventory. He creates his price list and saves the items. He has set the active date to be the last day of the season for those items. On that day the items will now ring up the discounted price across all venues and stores and will continue that price till modified.
A price book for example: A merchant is offering a promotion at a single location, for a customer group. This promotion is only going to run for a week. The users adds the items to the price book and selects an attribute to be included with this promotion and saves the price book. Since this is a price book for a customer group it was applied to the group and when customers in that group are rung up and added to the sale it will be applied.
After the week long promotion the users can modify the group and remove the price book and that group goes back to regular set prices for that location.
Articles in this section
- Central Administration System
- Configuration
- Company Details
- Company Information
- Payroll Settings
- Merchant Email Configuration
- Invoice Setup
- QSR
- Payment Settings