What is…
What are the Current (Price Book) Cost and Current (Retail) Cost fields? What are they used for?
The values entered in the current cost fields are used as a reference point to override the product's actual cost when calculating price books or retail pricing rules. When used, GlobalTill ignores all other cost values and only references the values entered here.
What are the current cost fields?
- Current (Price Book) Cost is an optional artificial cost used in Price Book calculations.
- Current (Retail) Cost is an optional artificial cost used in Retail Pricing Rule calculations.
What are the current cost fields used for?
Current cost fields are typically used when the cost paid for a product differs from the value of the product. They allow you to manipulate the cost that GlobalTill references in the automated features without changing the actual cost value, thus maintaining data accuracy for the purposes of audit, industry regulation, and financial reporting. Here are a few examples of when you might want to use the current cost fields.
- Example A. Suppose you buy a product from your supplier on sale, for $6.00, but it usually costs $6.50. You don’t want to factor the discount into your price book pricing. By entering $6.50 into the product's Current (Price Book) Cost field, you can manipulate the calculation for the price book price of that product without modifying the actual cost data in GlobalTill.
- Example B. You want to align the retail pricing rule prices of several products with slightly different costs. By entering the same value in the each product's Current (Retail) Cost field, the retail pricing rule will calculate the retail price against this artificial cost and generate the same price for each of the products.
- Example C. The automated pricing for a product seems off and you want to reset the calculation.
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