How do I Change Prices in Platinum?

Summary

This article explains how to change retail prices on Stock Control items from inside Platinum, and is written on the assumption that the price stored in Platinum is exclusive of V.A.T.

More Information

You may amend individual items through " Add or Edit Stock Items" or amend a range of items using " Price & Cost Changes". Both methods are described below.

Individual Items

To change retail prices on a few items, use "Add or Edit Stock Items" to do this.

Go to " Stock Control Add or Edit Stock Items".

• Search for the item that you want to change.
• Click [Edit].
• Move to "Retail price:" and type the new price. If your prices are exclusive of V.A.T., type the nett price that you want to charge. You can type the price inclusive of V.A.T. and then press <F2> to deduct the V.A.T.

Ranges of Items

To change a large number of items, use " Price & Cost Changes" to do this.

It is sensible to save your old prices into a separate price code. This will allow you to put the prices back if there are any problems.

Go to " Stock Control Maintenance Options Price & Cost Changes Sales/Cost Price Changes".

To save your existing prices

• At "Price Code to Alter:", type 'OLD'. If you see "Price Range not found", press <Shift+F10> to create the code. Type a description of 'Old Prices'.
• Press <F2>, and "Based on Price Code:" followed by "Standard Selling Price" will appear.
• Press <F5> to copy your existing prices.

The question 'The range amounts are not set. Do you want to continue?' will pop up. Answer 'Yes', and the system will copy all your existing retail prices to a price code called "OLD".

Increasing your prices

• Once you have saved your current prices: Blank out the price code 'OLD' in "Price Code to Alter :".
• At "Increase/Decrease :", type the percentage increase that you want, or move across to "Amount:" and enter the amount by which you want to increase the prices.
  • If you want to maintain your selling price to your customer despite a drop in V.A.T. for example, then you will need to work out what the increase should be. If, say, the V.A.T. rate has been changed from 17.5% to 15%, then you will need to increase your prices by 2.17% NETT to come back to the same retail price. You can achieve the same thing by increasing the prices by 17.5% and then reducing them by 13.05%.
• Move down and set the ranges that you want - you can change prices for an individual stock group; a range of stock codes; with a word or words in the description; items from a particular supplier; between two prices.
• To check the prices before they are set, press <Shift+F5> to view the changes on screen.
  • You may make individual adjustments under the "New Price" column.
  • Pressing <F10> on an item will exclude it from the change.
  • Press <F2> to post the changes and press [Accept]. If you wish to cancel just click [Ignore].
• If you are doing your complete stock file, you may wish to leave the ranges blank and press <F5>. Click [Yes] to carry out the change.

Consider what you are doing here very carefully before you do it. The changes that you make are implemented immediately.

Decreasing your prices

We recommend saving your prices before decreasing - see section above

Once you have saved your current prices, blank out the price code 'OLD' in "Price Code to Alter :".

• At "Increase/Decrease :", type the percentage decrease that you want, or move across to "Amount :" and enter the amount by which you want to decrease the prices.
  • If you want to maintain your selling price to your customer despite an increase in V.A.T. for example, then you will need to work out what the decrease should be. If, say, the V.A.T. rate has been changed from 17.5% to 20.00%, then you will need to decrease your prices by -2.08% NETT to come back to the same retail price.

This will changes prices to within one or two pence of the original price

• To check the prices before they are set, press <Shift+F5> to view the changes on screen.
  • You may make individual adjustments under the "New Price" column.
  • Pressing <F10> on an item will exclude it from the change.
  • Press <F2> to post the changes and press [Accept]. If you wish to cancel just click [Ignore].
• If you are doing your complete stock file, you may wish to leave the ranges blank and press <F5>. Click [Yes] to carry out the change.

Consider what you are doing here very carefully before you do it. The changes that you make are implemented immediately.

See also

• Creating a Stock Item
• How do I Credit Items Sold at a Previous VAT Rate?
• How do I edit VAT Rates?
• How do I Create or Change Labour Rates?

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Keywords AND Misspellings

VAT, V.A.T., rate, rates, Value added tax, changing VAT, prices, price, changes, changing, change, retail