Who Should Use This Tool & Why
Overview
This lesson details the significance of the cost & price calculation tool.
In this lesson, you will learn how to manage cost and pricing tables in a massive way, how to control when updates to cost and prices occur, and how to update future invoices without changing past invoices.
Estimated Time to Complete – 5 Minutes
Instructions
Before beginning, make sure you have:
Logged into your Wise Option account.
Necessary user permissions to access the Cost and Price Calculation Tool.
Click the tabs below based on the version of the Wise Option software you need instructions on.
Video How-To
For visual learners or those who prefer step-by-step guidance, we offer a concise instructional video below.
Step-by-Step Guidance
Understanding the Purpose:
Recognize the primary reasons for using the tool, such as managing cost and price tables.
Managing Cost and Price Tables:
Open Wise Option and navigate to a task file.
Confirm that cost and price rules are set for the items you wish to update.
Acknowledge that each task file has associated cost and price tables.
Utilizing Data Generated by Wise Option:
Understand that Wise Option has been collecting data from entered supplier invoices.
Data includes highest cost, latest cost, and average cost for each item.
Massive Updating of Costs and Prices:
Recognize the need to update costs and prices in a massive way.
Choose the items you want to update based on the collected data and your cost and price rules.
Controlling Update Timing:
Acknowledge that Wise Option allows users to control when updates occur.
Understand that updating costs and prices can impact profitability and customer pricing.
Decide on the frequency of updates based on your business needs.
Avoiding Retroactive Changes:
Understand that updating costs and prices using the tool does not affect past invoices or closed procedures.
Acknowledge that changes only apply to future invoices and procedures from the update point forward.
Prepare for Future Videos:
Anticipate more details in upcoming videos, such as specific use cases and industry applications.
Stay tuned for the next video, which will provide an overview of how the cost and price calculation tool works.
Seeking Assistance:
If you have any questions, reach out to the Wise Option support team for clarification.
Remember:
The tool is used for managing cost and price tables in a massive way.
Data generated by Wise Option, including highest, latest, and average costs, is crucial.
Users have control over when to update costs and prices based on business needs.
Updates do not affect past invoices or closed procedures; changes apply only to future transactions.
Resources
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