Do you want to offer multiple discounts, but not sure how to calculate the price? Do you want to add a fee on top of that? What if you want to track margins or rebates or royalties? Plus, you want all of them to track to their own specific financial account without having to manually go in and adjust those accounts. Rockton Pricing Management (RPM) can do that work for you. Set it up once, and your part is done.
When you use RPM, you can set up as many Price Calculations, or discounts, as you need to adjust the price of your items. A Price Calculation adjusts the price based on whether you want to increase or decrease the price or not affect the price at all. The best thing though, is that each of these calculations can be assigned their own GL account.
For example, say you need to show three separate discounts plus a packaging fee for an item. To calculate multiple discounts, you would have the following Price Calculations created.
- 5% Customer Discount
- 3% Winter Sale Discount
- 1% Special Item Discount
- $5 Packaging Fee
So, How Do You Calculate Multiple Discounts Using Multiple GL Accounts?
Let’s go through the setup of a Price Calculation.
- Under the Pricing menu, open Price Calculations and click Add New.
- Enter a specific Price Calculation Name. Make sure it is descriptive, so you know what the Price Calculation is used for on the Price Schedule.
- Select a Price Mode Option. In this example, use Percent Adjustment.
- Mark Modify Unit Price. This means the Price Calculation changes the Unit Price by the amount calculated.
Note: If you have more than one Price Calculation you can mark From the Base Unit Price if you want each calculation to calculate from the Base Unit Price. If unmarked, each Price Calculation calculates based on the last calculated price.
- In the Percent field, enter the Percent Discount. In this example, enter -5.
- Click the Tracking tab and mark the Track Adjustments check box. This tells RPM to add the line in Acumatica.
- Select the Debit and Credit GL Accounts where you want the discount to post.
- Save and close the screen.
The Price Calculation should look like this screenshot. Note the Tracking section.
When you create a Price Calculation for the fee, follow the same steps, except select Fixed Adjustment for the Price Mode Option. You are then able to enter the amount of the fee.
After all the Price Calculations are created and the appropriate GL accounts are assigned, add the Price Calculations to the Price Schedule.
Now that the Price Calculations are created and assigned to the Price Schedule, all you need to do is enter transactions in Acumatica. As the transactions are entered, Acumatica and RPM work together seamlessly to calculate the price and make those adjustments to the financial accounts.
In this example, the financial accounts are not editable, however, in RPM you have the option to make these lines editable. This allows you the ability to change the accounts and amounts used on the transaction. It’s another way RPM offers flexibility to meet your pricing needs.
Making adjustments to your pricing, even having to calculate multiple discounts, is easy and super flexible in RPM. Simply set the financial account on the Price Calculation and forget it.
If you would like more information on RPM or would like to see a demo, contact us at firstname.lastname@example.org or call 877-4ROCKTON.
Do you want to be able to track the dollar amount associated with a specific discount? Maybe you want to see how much of a discount is given to a specific customer or for a specific promotion. If you use exclusive GL accounts for discounts from promotions, you can easily see that information in Acumatica with the help of Rockton Pricing Management (RPM).
Let’s take a look at an example of how to use RPM to create a discount for a promotion you want to run for the month of April. Then, track the amount tied to that discount in the general ledger when the discount is used on transactions during the month.
How it’s done
A Price Calculation is what drives a price adjustment on a transaction to change the base price of an item. It is where you assign the discount based on an amount or a percentage. In this example, let’s say we are running a promotion specifically for our Loyal customers. They get $10 off when they purchase a specific item in April. The Price Calculation is set up for this amount and tied to a specific GL Account to track the discount. Here is an example of what the Price Calculation could look like.
We already have a Price Schedule for our Loyal Customers so we can easily add this new Price Calculation to the Price Schedule. RPM knows to look for the Item and Customer information to get the correct price.
Now that we have RPM set up to track the discount to a designated account, enter transactions as you normally would in Acumatica. We have already entered some transactions using this Price Schedule with the Price Calculation.
We can see the Price Calculations that were assigned on the transactions, for our new promotion. Click Edit and scroll down to the Price Adjustments area. RPM makes it easy to see your price adjustments within Acumatica. This way, you can verify the information before the transaction is posted. You can even click the View Diagnostics button to see how RPM found the price it returned.
View the GL Account
After the transactions are posted, you can view the GL account to get the total associated with that particular discount. How you view the information is entirely up to you. It can be done through a report, inquiry, whatever way you prefer to view GL Account information. Do keep in mind, if you have multiple discounts posting to the same GL Account, you will see all the transactions.
While this example is specific to a discount from a promotion, Rockton Pricing Management allows you to track specific GL accounts with any of the Price Calculations you want to use. It doesn’t have to be a discount. It could be royalties, margins, fees, or any other adjustments you use. RPM makes your work simpler & easier®.
If you would like more information on Rockton Pricing Management or would like to see a demo, please contact email@example.com or call 877-4ROCKTON (877-476-2586).
Rockton Pricing Management (RPM) gives you the flexibility to meet your most complex pricing needs. There are so many different scenarios you could have and there may be times when prices overlap based on the data entered. So how does RPM know which price it should assign? It depends on how you set up pricing. RPM will find the Price Schedule that meets the criteria you have entered and return that price.
Assign a Price Method
When you set up pricing in RPM, it is done through a Price Schedule. The Price Schedule ties directly to the Customer Price Class in Acumatica. It is on the Price Schedule where you decide where the base price originates, any filtering you need, and price calculations that need to be included. When you enter a transaction, the Customer Price Class drives what Price Schedule is used on the line. But, how the Customer Price Class/Price Schedule is selected is based on the Price Method selected in RPM Settings.
A Static Price Method means the Customer Price Class will default on the transaction based on the Customer and Location from the transaction header. Therefore, RPM uses the price assigned to the matching Price Schedule. No other searching is done on price Schedules.
A Dynamic Price Method means RPM searches for the Price Schedule that matches the criteria on the transaction. We’ll get more into that later.
Using the Hybrid method means you are going to use a combination of both Static and Dynamic. You may enter the Customer Price Class or you may let RPM find it.
Evaluate the Price Schedule
Let’s focus on the Dynamic Price Method to better understand what RPM does when it needs to go search for the Price Schedule from which to pull the price. There are a few things, that RPM will evaluate to decide which Price Schedule to use.
- Use In Dynamic Pricing
If this check box is marked, this Price Schedule may be included when searching for a price in Acumatica.
- Is Active Checkbox
If this check box is marked, the Price Schedule is valid and is considered when searching for a Price Schedule.
- Pricing Filter
RPM reviews what data is included in the Pricing Filter. If the information on the transaction is not part of the filter, the Price Schedule is ignored.
The Rank is important if more than one Price Schedule is found to meet the needs of the data entered. RPM will start with the highest-ranked Price Schedule and search in order until it finds a Price Schedule. The higher ranked Price Schedule is used.
All of these are considered when Acumatica makes a call to RPM to find the price for the transaction.
Using the Static Price Method is similar where the Price Schedule is still evaluated but if it doesn’t meet the criteria, then the price from Acumatica is used.
RPM has a very helpful feature that helps you determine where the price came from and how it determined what Price Schedule to use. It is called View Diagnostics. When you enter a transaction in Acumatica, you can click to edit the line item and see the RPM information there. The View Diagnostics button may be used to view the process RPM took to get the price. This is especially helpful if a price is not found.
RPM makes your work simpler and easier®. You simply set it and forget it; RPM does the work for you.
Setting up pricing for your items is never fun. There always seems to be some catch-22 for different customers or specific items. With Rockton Pricing Management (RPM), we make sure you have the flexibility you need to accomplish the most complex pricing. This is done through Price Schedules.
A Price Schedule in RPM is what drives your pricing when you add an item on a transaction. The pricing can be based on so many different options and adjustments. It’s what makes pricing so flexible in RPM! Let’s go through setting up a Price Schedule.
The first thing to note about a Price Schedule is that it ties to the Customer Price List in Acumatica. They have the same name. The Price Schedule name already exists in RPM as it is added during the implementation process. All you need to do is to define the setup the way you want.
- Navigate to Price Schedules under the Pricing menu and open the Price Schedule you wish to set up.
- Add a Pricing Filter if you want this Price Schedule to only be used for specific records, such as Items or Customers. If no Pricing Filter is added, the Price Schedule is used for everything.
- Select the Price Source Option you wish to use. They are as follows:
- Another Price Schedule – The price originates from another Price Schedule. This allows you to stack your Price Schedules.
- Item List Price – The List Price for the Item from the ERP system.
- Item Cost – The last cost associated with the Item from the ERP system.
- Price Book – Uses a specific price from a Price Book. Price Books are great when you need date-driven pricing.
- Value from ERP – Uses the value from the transaction to calculate the price.
- You can also add a Rounding Rule to the Price Schedule. This way you can round the dollar amount up or down, do increments of 5, whatever you need.
- Lastly, add any Price Calculations you want. These Price Calculations can affect the Base Price such as a fee or a discount or simply be an added calculation such as margins or rebates.
After your Price Schedule is set up the way you want, mark the Is Active check box.
Now that your Price Schedule is created, you can test your pricing to verify your results. This is done through a Pricing Scenario. A Pricing Scenario allows you to see what price is calculated for a specific scenario without having to create a transaction. To run a Pricing Scenario, follow these steps.
- Navigate to Pricing Scenarios under the Pricing
- Enter a Pricing Scenario name and enter the necessary information.
- Click Execute to get the results.
Verify the results you received are what you expect. If it’s not, you can click the View Diagnostics option to see how RPM calculated the price. This makes troubleshooting so much easier!
Also, with Pricing Scenarios, you can save them so they may be used again and again rather than having to enter the information each time.
While Acumatica allows you to create your pricing and apply that pricing to transactions correctly, you are a bit limited on what you can do. RPM gives you the flexibility to easily set up your pricing, even if it is complex.
If you would like more information on RPM or want to see a demo, contact us at firstname.lastname@example.org.
It felt great to be back at the Community Summit this year in Houston. After all, who doesn’t love a good reunion?
For those who didn’t get to attend or reunite with the Rockton squad during one of our sessions, we decided to bring the show to you! Check out these three upcoming events created to help you become a Microsoft Dynamics GP power user.
Is pricing a challenge? Do you dream about never having to setup a price list for EACH individual customer again? Would you like to ‘set it and forget it’ pricing? If you answered YES to these questions, this is the session for you! Come for an interactive, live demo of Rockton Pricing Management (RPM) and we’ll help you work simpler & easier® in Microsoft Dynamics GP.
When: Tuesday, November 2nd at 2:00pm – 2:25pm MT, OR
Wednesday, December 8th at 12:00 – 12:20pm MT
Are tracking Project costs and revenues bogging you down? Do you want to import employee labor or equipment hours to a project tracking module easily? Wishing project tracking was a seamless process in Dynamics GP? If you answered YES to these questions, this is the session for you! Come for an interactive, live demo of Rockton’s Project Cost add-on product. We’ll help you work simpler & easier® in Microsoft Dynamics GP.
When: Thursday, November 4th at 10:00am – 10:35am MT, OR
Tuesday, December 7th at 10:00am – 10:35am MT
Have users that never log out of GP? Want to increase transaction lookup speed? Looking to track data changes? Is pricing a challenge? Would you like to automate reports? If you answered YES to these questions, this is the session for you! Come for an interactive, live demo of Rockton’s five add-on products: Auditor, Dynamics GP Toolbox, Dynamics Report Manager, Omni Price, and SmartFill, we’ll help you work simpler & easier® in Microsoft Dynamics GP.
When: Tuesday, November 9th at 10:00am – 10:35am MT, OR
Thursday, December 9th at 10:00 -10:35 am MT
Overcoming pricing challenges and hiccups in project timelines can be tough – but it’s not impossible. We’ll show you how to squeeze every bit of functionality out of Microsoft Dynamics GP and exceed ROI expectations. Transform your business by registering for the next event and get a free trial, on us!
Raise your hand 🖐️ if you are in manual mode when it comes to updating any price adjustment or getting shipments out the door?
Get the right price for the right customer with Rockton Pricing Management (RPM) and get your items out the door quickly and accurately with StarShip.
Domestic or International – together, we have you covered!
With Rockton Pricing Management you can:
- Automate even the most complex and obscure pricing scenarios and calculations
- Enable date-driven pricing with all historical pricing tracked and archived
- Always get the right pricing for the right customer at the right time
- Easily set up and track all pricing changes, even daily
With StarShip from V-Technologies you can:
- Save on shipping costs with best way rules and discounted USPS rates
- Shave time off your small package and LTL shipment processing
- Simplify drop shipping, third party, and international
- Support complex shipping requirements such as hazmat
Let’s Chat About Pricing
Rockton Pricing Management is super flexible in the fact that it will work with multi-companies, multi-currency’s, all of your items, and be able to do some really cool adjustments and distributions within our pricing engine which will then push over into Dynamics GP or Acumatica.
How Flexible is RPM
We strive to automate those really complex pricing scenarios. So, if you sell blue shirts to customers in the mid-west on Fridays, that should be 8% off of your list price. We can figure all of that out for you so that you don’t have to manage that price list. We have some criteria you plug into RPM, and those prices will automatically pull into Dynamics GP or Acumatica for your sales transactions.
Date-driven pricing is no problem at all. If you want to offer a Memorial Day sale, you might need to make sure you’re only giving that special pricing from Friday to Monday. We can manage all of that behind the scenes with RPM’s date-driven options and also keep that history for you. So, if you want to know what you charged five years ago for a special promotion or for a certain customer, the history is right there so you can look back at it.
Make changes as often as you like. Some of our customers working within the commodities markets have pricing that may fluctuate daily. RPM makes it simple enough for you to be able to change prices or change calculations based costs, as often as you need to, without having to go crazy, trying to figure out, where is all of this information is being stored.
Sits outside of your ERP system
Rockton Pricing Management sits outside of Dynamics GP or Acumatica. This allows you to set specific users that can administrate the product, while the end user’s experience is just like normal. We have a connector that allows RPM to pull the needed information from GP or Acumatica, process those calculations based on your rules, and then push that price right back over into the sales transaction entry window.
- Any price adjustment
Want to price based on location? We can do that too.
Depending on how you are shipping your product, rising gas prices could potentially impact your shipping costs. If you want to recover some of that additional cost, we can adjust the price of an individual line item to increase based on where you are sending it.
Speaking of shipping let’s dive into StarShip next.
StarShip offers integrations to over 12 different e-commerce platforms. This includes shopping carts and marketplaces. So, we’re able to combine all of your different order points into one seamless integration when you’re shipping for both parcel and LTL carriers.
StarShip also has plugins available for different EDI solutions as well. So, regardless of where your orders are coming from, StarShip can harness all of those different transactions together into one integration point and one platform to manage all of your various carriers.
With StarShip you have the ability to quickly ship your small packages and pallets regardless of which mode of transport you’re using. Fulfill those orders quickly and automatically.
Simplify the process of automating drops shipments, hazardous materials, international shipments, and EDI.
V-Technologies niche is integration – providing the link between your ERP, accounting and business applications, and the warehouse resulting in faster, more efficient, shipment processing as well as front office visibility.
Features & Functionality
If you have fulfillment that you’re doing on behalf of another customer or you have different business units, you can set up multiple profiles. These profiles can have different drop ship IDs where you can have the information for the return address, and their company logo. All the attributes of the customer that you’re shipping on behalf of will easily populate on the paperwork automatically.
Save on shipping
If you want to do a rate comparison, StarShip can look at all the various carriers that are available to your particular destination. You can also take that decision out of the hands of the shipper and let the system do the thinking for you.
StarShip will rank the services in order of expense. So, you have UPS that came over from the sales transaction but FedEx comes in a little bit cheaper to this destination.
With both solutions you can:
- Achieve and maintain customer loyalty
- Have the ability to look at historical data
- Automate pricing and shipping in Dynamics GP and Acumatica
Wouldn’t it be nice to have the ability to assign a different GL account to different discounts in Acumatica?
Meet Jane, the Accounting Manager. She knows John, the Sales Manager, has been offering multiple discounts which are great and all, but Accounting needs to be able to track these back to specific GL accounts.
Why is it important to assign these different price adjustments back to specific GL accounts?
- It’s easier for Accounting to track
- Gives Accounting a better view of what adjustments were applied and why
- Automates this process versus creating separate entries each month
Jane wants to track:
- Standard 30-day promo and bonus discount to computers & electronics
- Key customer discount to sales and marketing
Right now, she can’t do that in Acumatica.
A lot to ask? We think not!
There is a way she can do all of it, she just needs some help from a specific pricing engine known as Rockton Pricing Management (RPM).
We got your back, Jane. Watch this quick 1-minute video to find out how:
or watch this 1 minute product example:
With RPM for Acumatica she now can:
- Track all those discount codes back to specific GL Accounts
- Save time not manually creating journal entries at the end of every month
The main aim of pricing and revenue management in a supply chain is to create a balance between supply and demand, while simultaneously optimizing profits. Traditionally, businesses would tweak the availability of their assets. However, in this day in age, revenue management has adopted a different approach. One that focuses more on pricing as the main tool for leveling out supply and demand.
As a more universal approach, this type of pricing and revenue management in a supply chain has proven to boost profits more efficiently. It’s a winning strategy for companies across a number of industries, including manufacturing, food distribution, and wholesale. Let’s dive into how and why you would adopt this approach for your own company.
Balancing supply and demand
Individually, both supply and demand can be adjusted using several different strategies. For supply, this could include changes to your inventory, while demand is usually generated by marketing efforts.
Pricing management is the process that ties supply and demand together by focusing on strategies designed to strike a balance between the two. Working with limited supply chain assets, both in terms of capacity and inventory, pricing and revenue management in a supply chain use pricing as the key tool for optimizing profits.
Increasing the profit margin
There are several revenue management strategies organizations can choose from, depending on your industry and business model. You can choose to focus on the timing of your pricing, targeting different customer segments or adjusting rates based on product or service availability.
Each of these approaches to pricing and revenue management in a supply chain can significantly increase profits. Which one you choose is largely based on the nature of your offering. Perhaps your value proposition is different for different audiences. Or maybe the demand for your products or services spikes during certain seasons. You could even adjust pricing based on individual versus wholesale purchases.
Seasonal pricing and revenue management in a supply chain
Manufacturers and food distribution companies selling season-specific products rely on revenue management tactics to balance out their supply and demand between peak times and the rest of the year. One winning pricing strategy for optimizing profits in this area is fluctuating between higher rates when demand spikes, and reduced prices in off-peak periods. This way you’re encouraging customers to shift their demand, which in turn allows you to maintain the efficiency of your supply chain.
By making this shift as well you are not stuck with a ton of inventory at certain times of the year and you can maintain consistent cash flow for these items.
Revenue management of bulk and spot customers
Most products can be offered individually at a higher price (spot sales) or in bulk at a lower rate. Effective pricing and revenue management in a supply chain strikes the right balance between the two, ensuring wholesale companies are bringing in optimal profit from their offering. You can achieve that through in-depth customer segmentation and strategic inventory management.
It does take an all-hands-on-deck approach. All teams need to be on the same page to be able to execute an effective pricing and revenue management strategy.
Not sure where to start?
Duplication of pricing, price adjustments, date-driven pricing, and promotions can be a daunting task.
Is it a manual process for you? Do you have to keep track of a million spreadsheets? How about a pricing strategy, what does yours look like?
When you think about your pricing strategies and offering discounts or promotions, it can be time-consuming and painful? Acumatica does have some pricing functionality like discounts and special promotions, but it may not meet all your pricing needs. Maybe you need to rethink your strategy, start here with this checklist.
How can you end the duplication process with pricing? Here are 4 ways:
1. Automate different pricing strategies
Whether those strategies involve running promotional discounts, offer VIP client discounts, rebates for vendors, and more. There really is no limit to the different price adjustments you can use or how many you can offer.
2. Don’t forget the accounting side of things
If you are using a variety of promotions or campaigns (as described above) and you want to put dollars to each of those accounts, you can post adjustments to multiple GL accounts for a single line item.
3. SQL Based Engine
Rockton Pricing Management (RPM) is the pricing engine sitting outside of your ERP system. It is the little engine that could or can do any type of price calculation. Once the price is calculated based on certain criteria it will then push that price back into Acumatica.
We push all of those:
4. How flexible is Rockton Pricing Management?
You can set up a few different promotions that apply specifically to a date range, for a particular customer.
Change a percentage at any time. Give your VIP customer a 3% discount when they are ordering regularly and then when they’re not ordering as much you can easily remove them from VIP status. This can help increase your bottom line knowing you have the flexibility to change which customers get which discounts.
This is all done behind the scenes which means no more duplication of efforts. When you’re setting up these different price calculations, RPM will do the rest and tell the system to just remove that customer from the VIP status filter.
Now, let’s take it a step further. If you have these types of pricing scenarios, then you’re obviously selling goods or services. Wouldn’t it be nice to connect all of your channels from EDI and storefronts to inventory, shipping, and fulfillment?
Here are 3 ways to say goodbye to data duplication
1. One platform is all you need
TrueCommerce can help you streamline processes including eCommerce, marketplaces, and EDI with one single, unified solution. It is a true multi-tenant, cloud-based technology, so you can run it anywhere.
2. All Your Orders in 1 Place
You don’t realize how many places pricing can touch – EDI, Amazon, storefront, an email pdf. It doesn’t matter where the orders are coming from they all end up in 1 central place.
Where is your pricing coming from?
- EDI orders with the negotiated price
- eCommerce with the promotional pricing for your web store or your website
With all of your orders in one central place, there is no more duplication and you never have to re-enter orders or re-type them in.
3. Product Management to the Rescue
Selling on these different platforms and marketplaces is a great way to make money, build your business, and sell your products but each one is different.
Rockton Pricing Management handles all the different pricing scenarios and attributes, TrueCommerce can also enhance those products to have all the different attributes required by doing digital commerce.
The information Amazon wants is different than what Shopify might need to know, this includes product descriptions, packaging, size of your product, and shipping info. With product management in place, you don’t need to keep track of all of that.
With everything integrated and working together with your storefront (Amazon, Shopify, WooCommerce, Magento) you can keep things running smoothly and seamlessly with Acumatica.
End the duplication of pricing, inputting orders, and tracking your entire supply chain process. It is nice to know there are tools out there to not only manage your pricing but your shopping platforms as well.
Check out this webinar to see how Rockton Software and TrueCommerce can help:
- Automate complex and obscure pricing scenarios and calculations
- Enable date-driven pricing with all historical pricing tracked
- Add multiple price adjustments on 1 item
- Gain access to more than 92,000 pre-connected retailers, marketplaces, distributors, vendors, and logistic providers.
Meet John, he’s the Pricing Manager. He wants to do something extra special for his customers, like multiple discounts.
What’s his struggle?
He wishes he could offer:
- a standard 30-day promo
- key customer discount
- a bonus discount for those who buy more than 1 item
- anything else he can dream up🤔
Right now he can’t offer any extra discounts for his customers. It’s pretty much a one-and-done scenario.
All he can do is apply:
- one discount
- one item at a time
With RPM for Acumatica he now can:
- give the VIP treatment
- create as many discounts for one item as he wants
- incentivize those loyal customers
You now have the flexibility to offer those discounts or promos for your special customers to give them a little something extra when they purchase an item or service from you.