About default prices

You can manually enter the default price of non-stock items, and if the Inventory module is enabled in your system, the default prices of stock items.

These are added in the Default price field on the Price/cost information tab of the Non-stock items (IN202000) window and the Stock items (IN202500) window respectively.

The default prices for stock items and non-stock items are specified in the base currency and for the base units. You can update the default prices as often as needed.

Bulk editing prices

If you need to enter the default prices for many or all the items or update the prices in bulk, you can create appropriate import scenarios.

Inventory module not enabled

If the Inventory module is not enabled in your system, you can only specify default prices for non-stock items.

The following are the most important limitations related to default prices:

• A default price has no start and expiration date and once specified, it is used for the item until a new default price has been entered.
• The system does not keep the history of default prices.
  You cannot define the default prices as promotional prices that are in effect for a particular date range or as tiered prices.
• When updating price lists, you can specify a method of calculating the updated prices (based on item markup per cents, percent of increase, or so forth), and the new prices will be calculated automatically. However, when updating the default prices you calculate the default prices externally (using any method you consider appropriate) and enter the resulting prices manually on per item basis or import them from a file by using an import scenario.
• The default price of an item is used as a sales price on an invoice (and a sales order, if applicable) only if there are no other prices (base price, or customer-class price, or customer-specific price) entered for the item.

If the default price is used for an item on an invoice or sales order, the discounts defined in the system will apply to the default price too.