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Cost Price Master

Cost Price Master

Cost Price Master - User Guide

1. Introduction đŸ’ŗ

The Cost Price Master is the central repository for your procurement costs. It links specific Suppliers/Vendors, Items, and Brands to a primary Purchase Cost, serving as the benchmark for material acquisition.

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Key Objectives:

  1. Purchase Control: Define benchmark procurement costs to identify overspending.
  2. Currency Precision: Record international purchase costs in original currencies.
  3. Safety Compliance: Ensure acquisition costs never exceed the company’s mandated “Ceiling Price”.

2. Getting Started with Cost Price Master 🚀

Accessing the Module

To access the Cost Price Master module, navigate to the Common Masters > Cost Price Master section from the main menu.

The Index Page

Upon opening, the Index Page displays a detailed list of vendor-specific material costs. Here, you can:

  • Filter & Search: Quickly find records by Item, Customer/Vendor, or Brand.
  • Review Financials: View the current Cost Price and Currency for each record.
  • Bulk Management: Access buttons for Create New, Export to Excel, and Create Multiple.

Cost Master Index Page

Cost Master Details

The Details view provides a snapshot of the procurement linkage and commercial terms:

  • Identification: Displays the record number, item name, and supplier name.
  • Commercial Details: Manage the Cost Price, Load Factor, and see the automated system dates.
  • Validation Guards: The system validates the entered cost against primary currency rules and optional ceiling prices.

Cost Master Details Screen

3. Structural Identity 🛠ī¸

Each cost record is defined by a unique combination:

  1. Vendor: The Supplier supplying the item.
  2. Item: The specific raw material or component.
  3. Brand: The brand being procured.
  4. Currency: The purchase currency (e.g., USD, INR, etc.).

4. High-Security Business Guards 🛡ī¸

A. Ceiling Price Guard (Optional)

If the system parameter CostPriceAboveCeilingPrice is active:

  • The system checks the Ceiling & Floor Price Master.
  • For Raw Materials (RM) and Process Materials (PM), the cost price must be equal to or lower than the mandated Ceiling Price.

B. Currency & Load Factor

  • INR Costs: For transactions in Indian Rupees, the Load Factor must be 1.0000.
  • Foreign Currency: The load factor (Range: 1.0000 to 999.9999) accounts for multipliers in internal accounting for non-INR assets.

C. Range Validations

  • Standard Range: Cost Prices must fall between 0.0001 and 99,999,999.9999.

5. Bulk Operations 📂

  • Import Multiple: Use the Excel import tool to upload vast price lists from your suppliers.
  • Export to Excel: A reporting feature used by the procurement department to analyze cost trends.

6. Lifecycle & Data Integrity 🔒

đŸšĢ Deletion Preventions

To protect integrated pricing models:

  • Dual-Role Check: You cannot delete a Cost Price record if it also has a Sale Price (Selling Price) assigned to it. This prevents accidental deletion of pricing benchmarks for items that are both bought and sold.
  • MFG Log: Any creation or edit in the Cost Master is recorded with a timestamp and the user ID.

7. Pro Tips 💡

  • Consistent Brand Management: Always double-check that the Brand linked in the Cost Master matches the Brand in the Inventory Master to ensure reporting accuracy.
  • Non-Standard Items: Use the “Notes” field to specify if the cost includes additional services or unique vendor-specific material grades.
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