Setting Default Price Formulas

Setting Default Price Formulas

  • Default price formulas allow you to set your preferred discount and mark up levels for any new inventory item and helps you establish your Retail price (as well as other available pricing levels).
  • These defaults will be used if creating a single new inventory item and while importing new items from the Catalog System.
  • Make sure to establish your substitute formula for MSRP related pricing, when MSRP is $0.
    • If you set your Retail price to match MSRP, and MSRP is $0, you need a backup plan based on cost. Most vendors do provide MSRP but not all, and oftentimes not for all parts (repair parts, for instance, often have $0 MSRP).

Go to Office > Back Office Settings > Price Levels. (You must click directly on Price Levels)




  • Retail and MSRP columns are discount percentages.
  • Cost(MarkUp) and Gross Margin columns are increase percentages.

For example, if you want your Retail price to be 5% MSRP, you would enter 5 in the Retail row/MSRP column.


    • Related Articles

    • What are Price Levels?

      Price Level Settings All parts have default price levels: Minimum Price, Retail, Sale Price, Package Price, and Preferred Customer. These price levels cannot be renamed. All parts have an additional three price levels available; their names are set ...

    • Setting a Package Price

      Packages are pre-bundled sets of products with a single retail price. In the package part details page: Retail (List) price is the default price of the package that will appear in Point of Sale when it is sold. If a package is discounted and you want ...

    • Price Inflation for Cash Discounting

      Price Inflation for Cash Discounting Program This program, printed documentation and documents should not be used as a substitute for professional advice in specific situations. The procedures, images and examples in this document are for ...

    • Naming Custom Price Levels

      All parts have default price levels: Minimum Price, Retail, Sale Price, Package Price, and Preferred Customer. These price levels cannot be renamed. All parts have an additional three price levels available; their names are set by each store. Go to ...

    • Rental System Default Settings

      Every business is unique. Orchid POS's rental system has multiple settings (and combination of settings) to help you run your rental program however you'd like, with the software doing as much of the work for you as possible. Orchid POS's goal is to ...