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The Base Price

This page describes the role of the Base Price in determining the sales price of an Item.

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Each Item has a Base Price field, shown on the 'Pricing' card. This is the Item's normal sales price:

In many cases, the Base Price will be the only price you need. If you always sell an Item at the same price (or with an ad hoc discount), you will be able to rely on the Base Price and not worry about the Price List feature. The Base Price should always be in your home Currency.

On the 'Costs' card of the Item record, there is also a Cost Price. This is the cost of purchasing or making the Item. The Cost Price will be used to calculate the Gross Profit of Orders and Invoices.

The 'Pricing' card of the Item record also contains a Unit field. This is the unit of measurement to which all prices refer. When you include the Item in a transaction of any kind (e.g. Invoice, Sales or Purchase Order, Goods Receipt), the Quantity that you enter should refer to this Unit.

For example, if you buy and sell an Item in boxes of twelve, its Unit should be "Dozen". If the Quantity in an Invoice is 2, this means "two boxes of twelve". The Base and Cost Prices of the Item will also refer to this Unit, as will any prices in Price Lists. If the Base Price is 85.00, this means "85.00 for a box of twelve"

If you need to sell an Item using different units of measurement (e.g. in single units and boxes of twelve), please refer to the Prices for Different Units of Measure page.

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The Pricing module in Standard ERP: