Setting Up a Price List
Prices are required in order to use defined costs.
A defined cost is a cost defined in non-monetary terms, such as 100 hours of labor, or 20 tons of steel, or 12 screwdrivers. A unit price is required to convert these into monetary amounts, such as $80 per hour for labor, or $150 per ton for steel, or $5.83 each for screwdrivers.
Each unit price is part of a larger price definition, which includes the price name, the quantity unit (hours, tons, each, etc.), the unit price itself, the price currency, and any associated comments.
1. Click on Setup Menu on the main menu, then select Prices. This will bring up the Price Definition Form.
2. Assume you have entered data for several price definitions in the Prices lesson of the Basics module, and that your data looks something like the illustration above.
3. Select one of the prices definitions, say 'Technician', and enter a comment into the Comments box at the top of the form, e.g. 'Subject to union negotiations'.
4. Select a currency other than your base currency for the 'Consultant' definition. Create a cost item using this price and observe the effect on the Cost Summary on the Cost Data Entry form when there is no exchange rate entered for this currency in the Currencies form.
5. Let's suppose that the Consultant rate is uncertain. Click on Show variances in the Unit Price Display frame at the top of the form. Enter low-range and high-range values for the daily rate.
6. You can also enter unit price ranges by specifying a confidence level. Ensure that the Consultant definition is selected (there will be a blue tag on the left hand side next to the currently selected definition), then select medium from the Confidence Level drop down list. Show the variance in terms of percentages by selecting Percent in the Unit Price Display box.
7. Move the Consultant price definition to the top of the list by selecting it and using the up/down buttons in the Change Position box on the left hand side of the form.
8. Save your definitions and exit from the form while simultaneously creating a printable report on your price definitions by clicking on Make Report.