Assign a Purchasing price list to objects

This topic describes how to assign Purchasing price lists to objects to display a suggested price for an item in a purchasing transaction.

About price list evaluation

You can assign a price list to a transaction definition, a vendor, and a price schedule (which you then assign to vendors). When more than one price list is involved in a transaction, Sage Intacct uses an order of precedence related to which price list is associated with which object to determine the suggested price.

Intacct first evaluates the transaction definition for associated price lists. It looks first at the Initial price list assignment and then the Special price list assignment.

It then moves to the vendor record, where it looks first at the vendor price list assignment and then at the vendor price schedule.

There are two possible outcomes for the suggested price result:

• If any price list entries have Fixed = Y, Intacct immediately stops further price list evaluation. After Intacct finds the first list entry that has Fixed = Y, it presents that price as the suggested price

• If all price list entries have Fixed = N, Intacct evaluates all price lists in precedence order and suggests the last valid price it finds.

  If the vendor has an assigned discount, its price schedule contains a discount, or both, Intacct applies the discounts sequentially at the end of the evaluation to the suggested price if the price list entry has Fixed = N. It will not apply a discount to suggested prices where Fixed = Y.

Assign a price list to a transaction definition

Most companies usually assign a purchasing price list to the applicable vendor record. However, you might want to assign a generic purchasing price list that contains purchase price estimates to a transaction definition, for example to use in purchase requisitions where a vendor has not yet been identified.

You can associate the following 2 price lists on each purchase transaction definition:

• Initial price list. This is the first price list that Intacct evaluates when determining a suggested transaction price. It should contain purchase prices for all items that your company usually purchases.
• Special price list. This is the second price list that Intacct evaluates and is usually used for seasonal or other temporary price lists. Keep the Special price list field updated with different price list associations according to your business process. It might not contain prices for all possible purchase items. The Special price list has precedence over the Initial price list, with the exception that if a price list entry in the Initial price list has Fixed = Y, then Intacct uses that price.

The best practice is to assign a standard price list as the Initial price list for all purchase transaction definitions and update the price list regularly for new items. This way, Intacct can always find a price to suggest if no other price list assignments exist on any other objects.

To assign a price list to a transaction definition:

1. Go to Purchasing > Setup > More > Transaction definitions.

2. Find the transaction definition and select Edit.

3. In the Workflow section under Pricing and terms, select a price list from the Initial price list dropdown.
4. Optional. Select a different price list from the Special price list dropdown.

5. Select Save.

Assign a price list to a vendor

You can associate a price list with a vendor if Vendor price lists is selected in the Configure Purchasing page.

A price list associated with a vendor has precedence over a price list associated with a transaction definition, with the exception that if a price list entry in the transaction definition price list has Fixed = Y, Intacct will use the first price list entry it encounters where Fixed = Y.

Assign a price list to a price schedule

You can associate a price list with a price schedule if Price schedules is selected in the Configure Purchasing page. Then you associate the price schedule with a vendor. This allows you to quickly update a price list in one place for a group of applicable vendors instead of having to update each individual vendor record.

The price schedule price list "wins" in price list evaluation precedence over transaction definition and vendor price lists, with the exception that if a price list entry in the transaction definition or vendor price list has Fixed = Y, the system will use the first price list entry it encounters where Fixed = Y.

See Price schedules for more information.