Item Price

An Item Price is one rate for one item on one Price List, optionally limited to a UOM, a minimum quantity, a customer or supplier and a date range. When a Sales Order or Sales Invoice is created, the price list on the document looks up the matching Item Price and fills the rate, so the salesperson does not type prices from memory. Buying documents do the same with a buying price list. The rate here is before VAT; the tax template adds 13% on top. Nothing posts to the ledger from an Item Price, but a stale or wrong price flows straight into invoices, the Sales Book and the VAT return, so keep it current.

Rate on a document = Item Price rate for that price list and UOM, after the conversion factor, before VAT

1. 01Go to Stock > Item Price > New.
2. 02Pick the Item and the Price List, such as Standard Selling.
3. 03Enter the rate, for example Rs 32,000 for the Trekking Package, and the UOM.
4. 04Optionally set Valid From and Valid Upto dates or a minimum quantity.
5. 05Save. New invoices on that price list now fill this rate automatically.
6. 06To bulk update, use Item Price list view Export, edit in Excel and Import.

Create under Stock > Item Price, or let invoices update it when enabled.

Trekking Package on Standard Selling at Rs 32,000.