What is a Price Item?

Services link to a Priceitem controls the finance attributes such as nominal posting accounts, rounding rules. Priceitems then link to Prices to determine Price.

There are different types of Priceitems which can be configured – course, accommodation, transfer, insurance, exam and sundry.

Typically there will be a one Priceitem per service, although we might also reuse the same priceitem across multiple services to avoid having to recreate complex pricing structures for each one.

A price defines in units how much a priceitem and therefore service is sold for E.g. The weekly price for 4 weeks for GE is £450.00 per week

A price list organises prices by period – typically an annual pricelist
 E.g. Standard 2015, Standard 2016 price lists. A price list has a valid start / from and end / to date. Active price lists within the same price list group should not have overlapping dates

A price list group organises price lists together (typically a geographic region)  E.g. Standard, EMEA etc.

Other PriceItem settings include:

• PriceItem Code

  • A short code used throughout Schoolworks typically on screen to represent the priceitem.  

• PriceItem Name

  • A name used throughout Schoolworks typically on screen to represent the priceitem

• PriceItem Description

  • A longer description used throughout Schoolworks typically on screen to represent the priceitem

• PriceItem Group

  • Used to group together Priceitems for statistical purposes

• Finance Currency

  • Default currency of the priceitem when adding prices

• Gross/Net

  • Does the price record include or exclude Tax (see Finance Tax Code)

• Finance Tax Code

  • Tax code to be applied to the price

• Default Sign on Manual Inv/Cre

  • If this Priceitem is used in a manual invoice/credit, force the sign of the result

• Default Price Unit

  • Defaults the unit for prices

• Default School

  • Used for reporting and statistics

• Record Type

  • Course, Individual Tuition, Accommodation, Transfer, Exam, Sundry

• Booking Fee Only One Per Enrolment

  • Only apply the a booking fee once per enrolment

  • (Otherwise once per booking)

• Cancel Fee Only One Per Enrolment

  • If configured, only apply a cancel fee once per enrolment

• Do Not Reverse On Cancel

  • Do not reverse fee upon cancellation

  • Useful when applied to booking fees to ‘keep’ the booking fee

• Do Not Reverse On Change

  • Do not reverse fee upon change

  • Useful when applied to booking fees to ‘keep’ the change fee

• Finance Nominal

  • Nominal Sales

    • Finance Nominal account to post Sale to

  • Nominal Sales Unearned

  • If Nominal Sales Post as Unearned is ticked, then

    • Finance Nominal account to post Unearned Sale to

  • Nominal Sales Post as Unearned

    • When ticked, post sales to the sales unearned account

  • Nominal Agent Discount

    • Finance Nominal account to post Agent Discounts to

  • Nominal Agent Discount Unearned

    • Finance Nominal account to post unearned Agent Discounts to

  • Nominal Agent Discount Post As Unearned

    • When ticked, post agent discounts to this account

  • Nominal Commission

    • Finance Nominal account to post Commissions to this account

  • Nominal Commission Unearned

    • Finance Nominal account to post unearned Commissions to this account

  • Nominal Commission Post As Unearned

    • When ticked, post sales to the Commission Unearned account

  • Nominal Discount

    • When ticked, post discounts to this account

  • Nominal Discount Unearned

    • When ticked, discounts to this account

  • Nominal Discount Post as Unearned

    • When ticked, post discounts to the Discount Unearned account

• Duration Calculation

  • Apply School Holidays

    • Adjust finance to take into account School Holidays

    • Typically ticked for course, unticked for accommodation

  • Apply Rule 2&3

    • Adjust finance to take into account short holidays (e.g. Easter)

  • Apply Student Holidays

    • Adjust finance to take into account student holidays

• Aggregate Pricing

  • Adjust the pricing rate chosen by the total weeks of all other services with the same record type, within an enrolment and where Aggregate Pricing OR Aggregate Add Only is ticked.

• Aggregate Add Only

  • Do not adjust the pricing rate of this priceitem, but add the duration of this priceitem towards the aggregate rate of other priceitems which have aggregate pricing ticked

• Apply Weekly Round Up

  • When ticked, apply a roundup to the nearest week if the number of days is between the following:

    • Apply Week RoundUp From

    • Apply Week RoundUp To

• Apply Weekly Round Down

  • When ticked, apply a round down to the nearest week if the number of days is between the following:

    • Apply Week RoundDown From

    • Apply Week RoundDown To

• Last Week Night Offset

  • When ticked, add one day / night to the total

  • Typically used in accommodation when 1 week and 6 nights are to be treated as 2 weeks 

NB, For more details on the rounding and Duration Offset, please see here.

Where do I find PriceItems?

You can do a general search for a PriceItem or you can open the PriceItem tab and use a view to display particular PriceItem types.

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