Price formulas are a powerful tool because they allow greater flexibility and granularity in controlling the pricing of merchandise in your Inventory. Typically you would use price formulas to customize the prices you receive electronically from your supplier(s). Conveniently, when creating price formulas, you can build on previous calculations; for example, you can calculate Price 1 as 10% above Retail and then calculate Price 2 at 50% Gross Profit above the newly calculated Price 1. Thus, in this way, they work similarly to using the "PC Option 1" screen of RPC (also known as the "flexible pricing screen").
However, price formulas go far beyond the capabilities of other price calculations in RPC because price formulas offer more flexibility and a greater number of calculations. When prices are calculated using price formulas, the system looks at each SKU and matches it against the different criteria of every price formula on the system to find which formula has the most number of matches for that SKU, and then applies that formula to the SKU. In addition, unlike RPC calculations, price formulas are saved on the system, thus they can be used repeatedly.
The price formulas application does not work with L-Type (lumber) records.
