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Marking up Stock Item prices based on percentage of cost

This page is for MYOB Advanced consultants

Check all changes in a test environment before taking them live. Make sure all related features still work as expected and that your data is unaffected.

Some distribution businesses determine the selling price of their stock items based on the percentage of costs. There is a standard functionality in MYOB Advanced that allows users to do this. This KB Articles discusses how to mark up stock item price based on the percentage of its cost.

Build 2021.117.400.6951 [21.117.0037] onward.

In this example the company Rapid Byte purchased the stock item Bluetooth Mouse at $50 (last cost = $50). They want to set the selling price of this stock item to be cost price + 50% mark up.

  1. Review Price / Cost Info tab of Stock Item Bluetooth Mouse – the last cost is currently $50:
  2. Go to the Sales Price Worksheets screen (AR202010), create a new Sales Price Worksheet, and add the Bluetooth Mouse stock item into the screen:
  3. Click “Calculate Pending Prices”.
  4. The Calculate Pending Prices window will pop up. To mark up 50% of the last cost, enter % of Original Price = 150 and tick “Last Cost + Markup %” in the Price Basis.
    • There are other ways to mark up the price for the item, such as:
      • Avg./Std. Cost + Markup %: mark up % based on average cost or standard cost
      • Source Price: the price that is used as a basis to calculate the pending price. Normally it’s the Default price of the item
      • MSRP: the manufacturer suggested retail price, copied from the RRP field on the Stock Items screen
      • Pending Price – normally use for quick adjustment of Pending Price, if you have already had a pending price for the stock item in the Sales Price worksheet.
  5. Click Update to update the Price.
  6. You will notice that the Pending Price will be updated. The Pending Price will be the price of the stock item after the Sales Price Worksheet is released (provided the item is sold on or after the price effective date, to the relevant customer). When you’re happy with the price, release the Sales Price Worksheet:
  7. When you add the item into the Sales Order, the new price is automatically populated:
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