Invoicing - Cost & Sell Installation Options

Cost in Store

Enter A to H. The price field used by CAPITAL to determine stock value. This represents the real "paid for" price of your stock and its current "book" value.

Ideally, your invoice cost price and cost in store should be the same. If you are using the general ledger, any difference between the two costs will be posted to a cost of sales variance account. During stock transfers, CAPITAL will average (if applicable) the cost in store price, not the invoice cost price. The cost in store price is also updated automatically during the purchase delivery process.

Default Cost Exclusive of Tax

Enter A to H The price used by the invoicing system to represent your cost price excluding any taxes. If you purchase ex tax, this will normally be the same as your cost in store.

Default Sell Exclusive of Tax

Enter A to H. The price used by the invoicing system to represent your sell price excluding taxes. This price will appear if you have not specified any other price (discount) to issue to an account.

Default Cost Inclusive of Tax

Enter A to H. The default cost price including tax. For those who purchase stock including tax, this will be the same as your cost in store.

For GST set this the same as your ex tax cost price.

Default Sell Inclusive of Tax

Enter A to H. The default sell price including tax.

Set this to the same as your sell ex tax for GST.

Default Box Sell Exclusive of Tax

Enter A to H. The default sell price excluding tax if you intend invoicing in units other than the standard unit of measure.

This setting is provided for backward compatibility with earlier versions of CAPITAL only. It is now possible to define a sell or purchase price by the type of box conversion performed and this method should be used instead.

For more information on this topic consult: Box Dimension Table and Cost and Sell formulas.

Default Box Sell Inclusive of Tax

Enter A to H. The default sell price including tax if you intend invoicing in units of measure other than the standard unit of measure.

For GST set this the same as your box sell price exclusive of tax.

This setting is provided for backward compatibility with earlier versions of CAPITAL. It is now possible to define a sell or purchase price by the type of box conversion performed and this method should be used instead. For more information on this topic consult: Box Dimension Table and Cost and Sell formulas.

If you will be invoicing in box units of measure and need to specify special discount rates depending on the quantity break or customer category, etc., you can do so by establishing special rules in the Customer Special Pricing Table.

Default List Price Exclusive of Tax

This is the price that will be listed on transactions if the Form code [LISTPRICE] is included on printed forms and the transaction has a tax free or exempt status. It is also the price that will appear on invoice transactions that are tax free during data entry if the Display list price option is selected.

Enter a price between A and H or leave blank and the default list price will be the same as the default sell price. It is normal policy to leave this field blank.

Situations where it might be useful to specify a price field would be if you have different customer price levels, and then applied further discounts on top of the price level. For example:

Retail Customers = Price "C"

Trade Customers = Price "D"

Wholesale Customers = Price "E"

A wholesale customer would receive the "E" price, which might be, say, $10.00 for a particular product. If you then wished to apply a further discount over and above the "E" price, you could do this by either specifying a Customer Special Price rule to cover the sale automatically or by manually overriding the customer's sell price during invoice entry.

For more information see Customer Special Pricing

The "list price" is then useful in showing the customer what their "normal" price would have been for their price group, had they not received their "special" price.

If you do not specify a customer as belonging to either a retail, trade or wholesale group (or some other combination of groups you set-up), then the default "list price" will default to the price field specified in Default List Price.

• You can also specify a standard discount table rate as the default list price. Standard discount rates are numbers between 1-9.

• List prices are always updated at the time of invoicing so that the most current list price is displayed.

Default List Price Inclusive of Tax

As above, except this is the price that is displayed if the transaction is not tax free. This distinction only applies to those organisations that maintain separate exempt and inclusive tax pricing in Stock Control (such as some retailers).

Wholesalers and others who calculate tax at the time of the sale and those who manage GST, should specify the same value as the list price exclusive of tax setting.