How to use catalogue pricing

When you create a purchase order for a managed item, the price you pay to suppliers may differ from the current unit cost. This allows you to use the current supplier price at the time of purchase. You can also use catalogue pricing to edit the currency when you buy items in foreign currencies.

Step 1

Ensure you have Catalogue Pricing enabled in your Tidy account. 

Head to Company under the Global Settings tab, and click on Sales & Purchases.

Step 2

Click the checkbox next to Enable Catalogue Price.

This will ensure any Catalogue Prices you set, will be the default price when purchase orders are created.

Step 3

Let’s look at the item Steel Welding Wire. Its unit cost is $8.99, and this cannot be modified because it is a managed item.

Therefore, if a supplier informs you of a price change, the unit cost cannot be overtyped.

Step 4

Instead, enter the supplier's new price into the Catalogue Price field.

$10.99 will become the default price for this item when you create a new purchase order.

Step 5

If you create a new purchase order for Steel Welding Wire, you can see the cost is now $10.99 - the catalogue price just created.

On the right-hand side, you can see the item’s purchase order history, and the unit cost was $8.99 for previous orders.

Step 6

Once the order is sent and received, head back to the item Steel Welding Wire under materials.

The unit cost has changed to $9.13. This is because, as a managed item, its cost is calculated using the average cost method; total unit costs divided by the total quantity in stock. 

Since your latest purchase was at a higher price, the average unit cost has increased.

Step 7

The Last Purchase Cost displays the most recent price paid for this material item. It has changed from $8.99 to $10.99 due to your latest purchase order.

Step 8

If the Catalogue Price is deleted for this material item, the Last Purchase Cost becomes the default price when you create a new purchase order.

You cannot edit or delete the last purchase cost.


Posted: Tue 06 Dec 2022