Every business provides some price discount to its customers based on various factors like customer buying capacity, price range, etc. This helps in retaining the customer for a longer duration with the business. The business may also make various groups of such discount which is called Price Group.
Price Group is a very familiar concept in trading segment which is to maintain different prices and discounts on goods for a group of customers. This is applicable in Sales transaction with rate and discount factors.
For e.g. the business may group the customers as Premium, Regular, and Walk-in Customers based on certain buying pattern of the customer. Here, on the purchase of an item, Premium customers may receive 45% discount on the base rate whereas Regular customers may receive a 20% discount on the product rate and Walk-in customers will receive only a 5% discount.
Some common trading segments with Price Group
The below-shown segments of trading have a very higher usage of Price group;
Price Group in Saral Billing and Accounts:
In Saral, we can create any number of price groups as per the requirement. This can also be assigned to a customer ledger in the ledger master. During the Sales transaction, the respective price group will be auto loaded on selecting the customer.
Price group is made available based on item rate and discount. These details can also be imported from Excel through the given excel template. The price group is managed with an effective date to accommodate frequent changes in rate and discount of the item.
Benefits of Price Group in Saral Billing and Accounts:
- Easy to manage item wise different rates and discounts for a group of customers.
- It’s an effective and time saving method to do quick invoice generation
- No need to remember the item rates and discounts, once we define it in the item master
Price Group Configuration, Utilization and Reports in Saral Billing and Accounts:
- Go to Inventory >> Inventory Settings >> click on Enable Price Group and apply the settings.
- Go to Master >> Price Group >> create Price Groups with common discount and Discount Margin on MRP for all items under the price group.
- For item wise rate and discounts, go to Master >> Rate Import >> Price Group >> select the Price Group from the list or press F9 on the price group list or click on the price group button to create a new price group. Enter the Effective Date for the group and enter rate and discount details for each item. After entering the details, click on Update to save the price group rate and discount details.
- We can also import price group details from Excel. To import, click on Export in Item Rate Import window which will export all the existing item details with rate and discount details. Enter the required information/change in Excel and save.
- We can also take a blank Excel template by clicking on Template in the Item Rate Import window, enter the details in the template and save.
- To Import, click on “…” button next to Select File and browse the Excel file. On importing the details, click on Update to save the details.
- To assign a price group for a customer, go to Master >> Ledgers >> select/create customer ledger. In the ledger, click on the Other Details tab and select the Price Group from the list. After entering, save the details.
- To assign a price group at the transaction level, go to Inventory >> Transaction Formats >> select the required outward/sales transaction format. Go to the Tax and Discount tab and select Bill Level under Price Group. Select the required price group from the list and save.
- Go to Inventory >> Sales Invoice >> select the Customer ledger. If the Price Group is assigned under ledger master for the customer or under transaction format for the transaction, then the price group will be auto loaded for the transaction. Else, select the required price group from the list.
- Next, select the item and enter the quantity for sale. The rate and discount for the item will be autoloaded as per the selected Price Group. After entering all the details, save the Sales Invoice.