Purchase price fields explained
You can add suppliers to products via Purchase prices. And then filter any report based on supplier to see the products associated with them.
Purchase prices are used to auto-fill prices when creating a purchase order. You can save multiple purchase prices for a product.
If you want to save any of the following for a product, you can add the purchase price.
Field | Description |
Supplier* | The supplier who has given this purchase rate. Suppliers can be created in Sumtracker from Purchase > Suppliers List. While making a PO for this Supplier, purchase price details will be auto selected. |
Currency* | The currency of purchase price is picked up from the Supplier's currency |
Purchase Price | The Purchase price of the product. |
Shipping Price | The price of shipping a single unit of the item |
Supplier SKU | SKU that the supplier uses at their end. This is printed on PO. So the supplier can easily identify the product you want to purchase. |
Pack Size | If you order the product in packs from your supplier, then you can enter the pack size here. Default pack size is 1.
Lets say, if Pack size is 50, and you order 2 Packs of 50, Sumtracker automatically handles the quantity to be received as 100. |
Pack UOM | The unit for the pack. For example, when ordering a Carton of 100 pieces of shirts, the Pack UOM will be "Carton of 100 pieces", or simply "Carton". This is needed for better communication with the Supplier and warehouse team receiving the products. |
MOQ | Minimum order quantity for the product. This is the minimum quantity of the product that you have to order from your supplier. MOQ is displayed while making a PO. There are no hard checks that would stop you from ordering quantity lesser than MOQ. |
*Mandatory fields
How to create a purchase price?
You create purchase prices for using in different purchase conditions such as different cost prices, pack sizes, MOQs etc.
For understanding pack sizes let us take an example of Coffee beans. Let's say coffee beans are sold in 1kg box. The supplier quotes the price in a carton of 100kg and wants you to buy coffee packs in the same unit. Now you want the inventory to go up by 100 units when a unit of 100kg carton of coffee beans is purchased because 100kg carton has 100 units of 1 kg coffee bean boxes.
Step 1: open the product for which you want to create the purchase price for
Step 2: Go to the purchase price tab and click on the add purchase price button
Step 3: enter the required value and click on save button.
The pack size value is 100 because 1 unit of 100kg carton has 100 units of 1kg box.
When you Add this Product in a Purchase Order, its Purchase price details will be automatically filled.
How to create or update purchase price in bulk?
Click here to download the sample template for purchase prices import.
Step 1: Go to the purchase price list page
If you already have some purchase prices which you want to update, click on the export button.
Only the Supplier code and SKU are mandatory to create the Purchase Prices. You may fill other fields or leave them blank.
Step 2: create the CSV file which needs to be imported
To update, you can change the existing data and imported the sheet.
Step 3: import the CSV file from the purchase prices list page
You can only upload 5000 products in a single import. If you have more than 5000 products, you could split the number of products into multiple CSV files and upload them.