Vendor Markup 

Overview

This article will walk through creating vendor markups as well as applying them to vendors and items.  Many companies have a standard percentage they mark up resale items. Generally, the more expensive an item is the lower the margins are. For example, you may mark up an item you purchase for $1.00 by over 200%, but a $35,000 item may not enjoy that same margin. Point of Rental allows you to set specific markup percentages based on the cost of the resale item. You must be licensed for the Purchase Order module in order for Vendor Markup to be applicable.

For Elite, please see our article on Price Model.



Topics included in this article

• Setting Up Vendor Markup
• Adding Vendor Markup to the Vendor File
• Adding Markups for an Item

How to get there
Expert: Program Menu > Configuration > Accounting Configurations > Default Vendor Markup
 

Setting Up Vendor Markup

You will see a box with two columns, Minimum Price and Markup %.
 

1. Click the 'Add' button to enter the minimum price and percentage.

In the example below, any item that costs between 1 and 29 cents will be marked up 800 percent; items costing 30 to 99 cents will be marked up 400 percent, etc.
 

Once you have a markup scheme defined, anytime a sale item is purchased using a purchase order, the sale price will automatically be set. It is possible to manually change the sell price if desired.
 

Note: Most companies do not set markup schemes across the board. They are typically set by the vendor or for a specific item.  

Adding Vendor Markup to the Vendor File
 

1. Open the Vendor File in Purchase Orders or File Maintenance and select a vendor.

2. Click on the Options drop-down menu in the top left corner and select Markup Percentage.

Adding Markups for an Item
 

1. Open the item record in File Maintenance.

2. The Markup Percentage field can be found on the Asset Tab.
 

Related articles

Asset Tab
File Maintenance