Item Prices Explained

• QuickEasy BOS assists businesses in maintaining their profit margins by providing uncomplicated Costing and Estimating processes.
• The software uses Items: a term that includes Inventory, Materials, Tasks, Costings, and Assemblies.
• There are also specialised items for the printing industry.
• Pricing information is obtained from Cost Centres or Items. 
• Items are used in Transactions and Estimates. 

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Different Item Prices Explained

Price Types

• Supplier: 
  • Used in Materials and Outwork.
  • The price is on the Supplier’s Invoice and must be captured in BOS, either directly or through a Transaction (e.g. Supplier Invoice).
• Cost: 
  • Used in Estimating and Transactions that use Cost Prices (e.g. Work Orders).   
  • Can be entered manually.
  • Can be automatically calculated based on a Supplier Price, or Costing.
• Sell:
  • Used in Transactions that use Sell Price (e.g. Customer Invoices).
  • Can be entered manually.
  • Can be automatically calculated by applying a mark-up to a Cost Price.

Fixed and Unit Prices

• Costings, Tasks, and Outwork provide for Fixed and Unit Prices.
• The Fixed Price is always added regardless of the Quantity (e.g. a fixed delivery fee).
• The Unit Price is always multiplied by the Quantity.
• Fixed Prices are disabled for Materials on the item’s Prices tab. But can still be used in transactions.

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How Prices Are Calculated

How the Cost Price is calculated from the Highest Supplier Price

1. The Supplier Price is converted to the Local Currency.
2. The Adjustment (Adj%) is added to the Supplier Price.
   • Note: When a negative adjustment is added, the Supplier Price is reduced.
3. The Unit Price is converted to the Base Unit.
4. All the Base Unit prices are compared and the highest price is selected.
5. The highest price, as determined by Step 4, is converted to match the Cost Price’s Unit.
6. The Adjustment (Adj%) entered for the Cost Price is added to the price.
   • Note: Only positive adjustments are allowed for the Cost Price. If a negative number is entered, it is changed to zero.

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How the Cost Price is calculated from a Costing

1. If the unit used in the costing differs from the Base Unit, the price is converted to obtain a price for the Base Unit.
2. All the Base Unit prices are compared and the highest unit price is selected. 
3. The Highest Unit Price is converted to the Cost Price’s Unit.
4. The Adjustment (Adj%) entered for the Cost Price is added to the price.
   • Note: Only positive adjustments are allowed for the Cost Price. If a negative number is entered, it is changed to zero.

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How the Sell Price is calculated from the Cost Price

1. The Cost Price is converted to match the Sell Price Unit.
2. The converted price obtained in Step 1 is converted again to match the Sell Price Currency. 
3. The Adjustment (Adj%) entered for the Sell Price is added to the price. 

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Pricing and Transaction Items

1. When creating a Transaction Type, you must select the price that is applicable to that transaction (e.g. Cost, Sell, Accounting). Items can only be​ added to a transaction if they have the matching price setup on their Prices tabs.
2. When creating transactions in foreign currencies:
   1. For Supplier and Sell Prices, items can only be added to transactions if they have the matching price in the foreign currency (as chosen on Step 1) setup on their Prices (tab).
   2. Cost Prices can only be in the Local Currency and are converted if the transaction is not in the local currency.
   3. The conversion rate is shown in the footer of the transaction.
3. The following Items can be added to a Transaction:
   • Custom Items (0: CTM): These items are created at the time of the transaction and only apply to the particular transaction. Prices must be manually entered on the transaction. Rules 1 and 2 do not apply.
   • Items from the Item Master (1: ITM): These are the pre-created Items. Pricing information is obtained from the item’s Pricing (tab). Rules 1 and 2 apply.
   • Estimate – Active Qty (2: EST): The price for a line item on a transaction that has estimating enabled is obtained from the price for the Active Quantity on the Estimate. 
   • Estimate – Other Qty (3: ES Qty): BOS provides for Inactive Quantities and prices to be displayed on a transaction to give customers insight into how their Quantity decision affects their prices. The default templates for Quotations include these inactive quantities. They are also visible on the Estimate itself.
4. The Item Totals are updated when one or more of the following fields are updated and Save (button) is clicked:
   • Qty
   • Unit Cost / Fixed Cost 
   • MU%
   • Unit Sell / Fixed Sell
   • Adj %
   • VAT Type 
   • Inc (VAT Inclusive):
     • If a price is VAT Exclusive, VAT is added to the price to obtain the inclusive price (e.g. Exclusive Price + VAT = Inclusive Price).
     • If a price is VAT Inclusive, VAT is deducted from the price to obtain the exclusive price (e.g. Inclusive Price – VAT = Exclusive Price).
5. On transactions (hidden by default) and on the Prices tab of Estimates, a Fix checkbox allows you to fix the Sell Price: 
   • Unchecked:
     • Calculates the Sell Price by adding the markup to the Cost Price.
     • Only the markup percentage (MU%) can be edited, not the prices.
     • This is the default for Estimates.
   • Checked:
     • Calculates the Mark Up % by calculating the percentage difference between the Cost and Sell Prices.
     • Only the prices can be edited, not the markup percentage.
     • This is the default for Non-estimate and Custom Items.

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