Price Update

It is sometimes necessary to update the price and/or cost of whole groups of stock items in your inventory. You can easily do this in Simple Accounting by running this procedure from the Inventory section of the Main Menu. Some reasons you may want to do this would be:

• To conduct a special sale promotion

• Because of a change in a vendor’s pricing for a particular line of products

This program makes that process easy by allowing you to change this information in a batch mode, based on the type of items to be updated. This reduces the need to edit records individually. You can reduce or increase prices and costs by a dollar amount or by a percentage.

Warning! This program makes permanent changes to your Products main data file. Please read the following section completely and heed all warnings before proceeding!

Procedure

1) Enter your master password to proceed. A dialog box appears to check whether or not you have a current price list; you must answer yes to proceed. If you do not have a current list you should stop and print one from the Products & Services Browse before proceeding. Also, you should backup the file PRODUCTS.TPS, in case you need to restore your forms data file back to its original status.

2) Begin by selecting which records to update, using the filter window.

3) Next, fill out the data entry form to update the prices and costs of selected items. Each price break and cost may be updated individually.

In the left-hand column, enter the amount to change the selected field by. Those fields left blank (zero) are not affected during the update.

In the center column select either:

• A ‘$’ sign, indicating that the adjustment is to be made in dollars, or,

• A ‘%’ sign to indicate that the adjustment should be made as a percentage of the current value,

• Finally, enter a plus (+) or minus (-) sign to indicate whether the change should be positive (addition) or negative (subtract) from the current value by the selected amount.

4) Before proceeding confirm that you wish to proceed by selecting Yes from the dialog box. The procedure then begins. Usually, this process will take only a few seconds.

Caution should be observed when adjusting prices/costs by percentage. If you reduce a group of items in price or cost by a percentage, you cannot simply restore their original pricing by re-running this program using the same percentage. In other words, taking items and reducing their price by 10% for a sale, then raising their price 10% will not restore the original price! The reverse is true also: you can’t raise prices by a percentage and then reduce them to their original level using the same percentage.