Setting Up Pricing Information For each item that you want to sell, you must define the price at which you want to sell it. You use pricing in the JD Edwards EnterpriseOne Sales Order Management system to define the base prices that the system retrieves when you enter items on a sales order. A base price is the standard price for an item based on characteristics such as: • Branch/Plant • Customer (Parent, Ship-To, or Sold-To Address) • Quantity • Effective dates The base price is the starting price of an item before any discounts are applied. You use the base price as the basis of calculations for price adjustments and discounts. To provide flexibility in the pricing structure, you can define the base price for an item or any combination of items, item groups, customers, or customer groups. To simplify the process of defining and maintaining base prices, you can set up price groups for customers and items with similar characteristics. After you define base prices, you can update them as needed. For example, you can change a price or create a price that will be effective on a future date. You can use the Base Price Revisions program (P4106) to update base prices individually. Or you can run the Base/Price Maintenance – Batch program (R41830) to update multiple prices at one time. You use the Sales Order Batch Price/Cost Update program (R42950) to update prices for a customer. You can also use this program to update the unit and extended costs of items on sales orders with the most current costs. If multicurrency processing is activated in the system, the system also updates the Foreign Unit and Extended Cost fields. To set up a base price, you must: 1. Set up item information. 2. Set up customer information. 3. Define preference hierarchies. 4. Enter base prices. Upon completion of this lesson, you will be able to: Understand base pricing. Create item groups and customer groups. Set up price hierarchies. Create base prices.