Item Price is the record in which you can log the selling and buying rate of an item.
1. How to create Item Price
There are two ways to reach to new Item Price form:
Selling/Buying/Stock > Items and Pricing > Item Price > New.
Item > Click on "+" next to Item Price.
Set the Unit of Measure for which price will be applied.
- Select the price list whether Selling or Buying price.
- Enter the actual rate.
Following are the detailed steps to create new Item Price.
1.1 Select Price List
You can create multiple Price List in ERPNext to track Selling and Buying Price List of an item separately. Also if item's selling prices id changing based on territory, or due to other criteria, you can create multiple selling Price List for it.
On selection of Price List, its currency and for selling or buying property will be fetched as well.
To have Item Price fetching in the sales or purchase transaction, you should have Price List id selected in the transaction, just above Item table.
1.2 Select Item
Select item for which Item Price record is to be created. On selection of Item Code, Item Name and Description will be fetched as well.
1.3 Enter Rate
Enter selling/buying rate of an item in Price List currency.
1.4 Save Item Price
To check all Item Price together, go to:
Stock > Main Report > Itemwise Price List Rate
You will find option to create new Item Price record (+) in this report as well.
- Applying Discount