Setting Up Pricing by Markup

In order to set up pricing based on a fixed markup percentage, you need to create a special attribute called Markup.

When you add the "Markup" attribute to a SKU, it will automatically add a desired markup % to the average landed cost of the SKU.

 

1. Create a new SKU attribute (see: Adding New Attributes) with the name "Markup" and the "Text" format.

markup_attribute.JPG

Close-up of attribute setup window

 

 The Markup % is calculated as follows: Price = AvgLandedCost  X (1 + Markup / 100 )

Your Reg. Sell Price will be based on when your Average Landed cost is multiplied by (1 + your selected Markup % / 100)

 

2. Now if you create a new SKU (see: Adding a New SKU) you can see the Markup field in the attributes section. Now you can add a desired % value of Markup based on the Average Landed Cost of the SKU.

First select a SKU to open the SKU's Info tab.

markup_sku2.JPG

      Step 1. Enter the % value of Markup increase on the Avg. Cost

      Step 2. The Avg. Cost is shown here, this is what the markup increase value is based on.

      Step 3. The Reg. Sell Price will proportionally increase to the Markup %.

      Step 4. Click Save to finalize your Markup changes.

     

  **Optional Step**

       To calculate Sell Price with the Markup attribute based on ListCost instead of the default LandedCost:

retail_on_listcost.JPG

       First Access the Setup Menu.

       Step 1: Select the Stores tab.

       Step 2: Select the Others tab.

       Step 3: Click the box.PNG next to "Retail on Listcost" to enable Listcost to calculate your Sell Price using the Markup attribute instead of the default Landedcost.

 

 

Article written with AmberPOS version 4.14.05.05

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