Step by Step:

Use margin pricing to set the retail price of an inventory item based on the cost of the item plus a specific margin. This means as the cost changes, the retail price of the item changes. Follow the steps below if margin pricing doesn't seem to be working on an inventory item.

Step 1: Set up margin pricing on an existing item

#1 Open the inventory item (Inventory tab > Double click on the item in the Inventory Tree).

#2 Open the Pricing tab.

#3 Select Retail Margin.

#4 Enter the margin in the field directly below the Retail Margin box. For example, enter 40 to calculate price based on a 40% margin.

#5 Click OK when complete to save your changes.

Step 2: (optional) Set up rounding on the product line

Set up how the retail price is rounded when using margin pricing. This is set up on the product line, not the inventory item, and it will impact all inventory items in that product line.

#1 Open the Product Lines tab of the Inventory screen (Administration > Inventory > General Setup > Product Lines).

#2 Open a product line.

#3 (optional) Input a Default Retail Margin. When creating a new item (Administration > Inventory > Add Item), by default that item will be assigned the selected retail margin. 

#4 Check the Round Up on Margin Pricing box.

#5 Enter the amount in cents that you want to round up to. For example, enter 95 if the retail price should always round up to $.95. That means if the calculated retail price based on margin pricing is $.99, the system will round the retail price up to $1.95.

#6 Click OK when complete to save your changes.

Step 3: Complete

When you create a new sales order, the system will calculate the correct retail price.