Datastream 7i handles pricing based on installation parameters. Prices can be kept on a part level (SMPART) or on a stock level (SMSTOC). Users must also determine the timing of the price calculation.
The following table outlines price codes and the values that can be associated with those codes:
|
Parameter |
Value |
Indicates |
|
PRICELEV |
P or S |
Keep prices on part level or stock level |
|
PRICETIM |
I or R |
Recalculate prices when invoicing or when receiving |
The price type is set internally when Datastream 7i is installed. Refer to the following alternatives:
|
Price Type |
Indicates |
|
Average price |
The transaction is against the average price of the part. |
|
Last price |
The transaction is against the last price of the part. |
|
Standard price |
The transaction is against a fixed price. |
|
First in first out (FIFO) |
The oldest stock is used before the newest stock. The transaction is based against the next issue price of the oldest item in stock. |
|
Last in first out (LIFO) |
The newest stock is used before the oldest stock. The transaction is based against the next issue price of the newest item in stock. |
When you change the price of a part, Datastream 7i creates a transaction. The transaction price is the price difference. The transaction quantity is the quantity of stock at the time of the price change. View price transactions on the Overview of transactions per store form (SOTRAN).
For both part revaluation and stock revaluation, Datastream 7i generates transaction types associated with price changes as follows. If you update the average, last, or standard price, which updates the base price, and you do not update the price type, Datastream 7i generates a CORR transaction type for the price re-valuation. If you update only the price type, which also updates the base price, Datastream 7i generates an MPTC transaction type for the price type update. If you update both the price (average, last, and/or standard) and the price type, Datastream 7i generates an MPTC transaction for the price and price type update.
Both CORR and MPTC transactions are created at the store level for all stores. The transaction price is calculated as the difference between the new base price and the old base price, for which the transaction quantity is equal to the quantity in store at the time of the price change, and the I/O indicator for the transaction is positive. You can view price transactions on the Overview of transactions per store form (SOTRAN).
Refer to the Part revaluation form (SNREVP) when prices are kept at part level. If you are keeping prices at the part level, you cannot change the price type for a part to LIFO/FIFO using the Part revaluation form (SNREVP). Refer to the Stock revaluation form (SNREVS) for prices kept at stock level.
|
Exercise caution when changing average prices or last prices. Datastream 7i obtains average price and last price from invoices or purchase orders. |
The Average price for a part is also automatically recalculated upon approval of a credit or debit note recorded for an invoice or invoice line. The following table outlines the INCREDIT price code and the values that can be associated with that code:
|
Value |
Indicates |
|
O |
Datastream 7i does not update part prices upon approval of a credit or debit note. |
|
P |
Datastream 7i applies a portion of the value of the credit amount, up to the value of the part in stock in the calculation of the average price for a part upon approval of a credit note, when the credit amount is greater than the value of the part in stock. By setting the value to P, the calculation of the average price based on a credit amount might result in an average price of 0 for a part, but it also ensures that the average price cannot be less than 0. The remaining value of the credit amount that is not used in the calculation of the average price is stored as a Credit balance for the part in stock. |
|
F |
Datastream 7i applies the credit amount in the calculation of the average price for a part upon approval of a credit or debit note when the credit amount is less than the value of the part in stock. Setting the value to F ensures that the calculation of the average price for a part can never result in a value of 0. |
Refer to the following topics for information on changing prices.