Updating the sales price from a cash purchase

When you buy items at a new cost, you may want to update the selling price of those items to maintain your profit margin. Usystems allows you to update the sales price of products directly from a cash purchase, based on a markup percentage or formula.

Before you start

• You must have Inventory module enabled.
• The product must have a cost field and a sales price field.
• You need to know the markup percentage (e.g., "add 30% to cost for selling price") or use a pricing formula already set up in your system.
• You must have permission to edit product pricing. If you do not, ask your administrator.

Steps

1. After adding product lines to a cash purchase, scroll down to find the Update Sales Price option. Open in Usystems

2. For each product line, you will see a Sale Price field (if the product has one). You can:

   • Leave it blank (sales price stays unchanged).
   • Manually enter a new selling price.
   • Use the Auto-update option (if available) to calculate a new price based on the cost and a markup percentage.

3. If using Auto-update:

   • Enter the markup percentage (e.g., 30 for "30% markup").
   • Click Calculate or Apply. The new sales price will be calculated as: Cost + (Cost × Markup%).
   • Review the new price. If it looks correct, proceed to save the purchase.

4. Once the purchase is saved and confirmed, the sales price update is applied. The next time you create an invoice with this product, the new sales price will be offered.

5. The updated sales price is also shown in your Products list.

Accounting impact

Updating the sales price does not create any accounting entries. It only affects:

• The default selling price offered on future invoices and sales orders.
• Reports that track margin or profitability.
• The product's record in the Products list.

The cost basis of inventory remains unchanged; only the markup changes.

Tips & common mistakes

• Update for all units or just this shipment? When you update the sales price on a cash purchase, it updates the product master price, affecting all future sales. If you want to charge a different price for just this shipment (e.g., a one-time discount), do not update the product price; instead, adjust the price on the individual invoice.
• Markup percentage: If you use a 30% markup, the formula is: New Price = Cost × 1.30. Make sure this gives you the profit margin you want.
• Price already set? If the product already has a sales price and you do not want to change it, leave the field blank. The price will remain as it is.
• Bulk updates: If you are adding many products with new costs, you can update the sales prices for multiple lines at once if the system provides a batch feature.

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