How to Create and Execute Markup Rules

Updating product prices manually can be a time-consuming process, but with Flawless POS, you can create and execute markup rules to adjust pricing in bulk, saving time and reducing the chance of human error. In this guide, we’ll walk you through the steps to create, customize, and execute markup rules effectively.

You may refer to this video for a step-by-step guide on how to Create and Execute Markup rules: 

https://www.youtube.com/watch?v=eGf5jo_mjb4 

Why Use Markup Rules?

Markup rules allow you to update the prices of multiple items at once based on specific criteria, such as product category or vendor. This not only speeds up the pricing process but also ensures consistency across similar products. Markup rules are particularly useful when updating wholesale or retail prices for large inventories.

Step 1: Accessing the Markup Module

To begin creating and applying markup rules in Flawless POS, follow these steps:

1. Open the Left Navigation Menu: On the main dashboard, click the menu icon on the left side of the screen.
   
   
   
   
   

2. Expand the Inventory Section: In the navigation menu, find and click on the Inventory section to expand its options.
   
   

3. Select the Markup Option: Click on the Markup option from the expanded menu to access the Markup Module, where you'll see a list of all active markup rules.
   
    
   
   
   

Step 2: Understanding Markup Rule Order

In the Markup Module, it’s important to note that the rules are applied in a specific order. The rules are processed from top to bottom, meaning:

• The first rule that matches the specified conditions will be applied.

• All subsequent rules lower in the list will be ignored if the condition is already met by a higher rule.

This order of execution makes it essential to place your most critical markup rules at the top of the list. You may make use of the example below as a reference on how the Markup Rule is being applied

In this example, the system first checks the first markup rule(in this case, testing rule 2) located on the top to see if there are any matches that meet the requirements of the specified conditions. It would then process the second rule should there be no matching condition for the first rule and so on.

Step 3: Creating a New Markup Rule

To create a new markup rule, follow these steps:

1. Click on 'Add Markup': In the Markup Module, click the Add Markup button to begin creating a new rule.
   
   

2. Name Your Rule: In the dialog box that appears, give your markup rule a meaningful name. For example, you might name it after the category of items or the vendor it applies to.
   
   

3. Set Markup Percentages: You can choose to update wholesale or retail markups by adjusting the percentage fields accordingly.
   
   

4. Define the Correct Filter: The most critical part of setting up a markup rule is ensuring it applies to the right items. Click the Update Filter button to customize the filter for your rule.

   • For this example, you can create a rule that applies to all finished products from a specific vendor. After selecting your filter, Flawless POS will show the number of items that match your filter criteria underneath the button.
     
     
     
     
       

Additionally, the other fields also serve as a filter for the markup. The fields are as follows:

Types: The type of product that gets added into the markup 

Categories: The category of the said markup

Materials: Materials that were used in the creation of the product

Colors: The colors contained in the product/variant

Internal Tags: The tags that are being used internally by you and your company

Retail Price From and To: The price range of a specific product ( e.g $500-$1000)

Product Line: The type of product that belongs to a certain company/group

Jacket # : The Jacket ID of a certain product

Style Type: The type of style used by the product(e.g. Pendant, Pin, Bangle)

Metal Type: The type of Metal used by the product (e.g KG,KR,KTC)

Stone Type: The type of stone used by the product (e.g. Diamond,Aquamarine,Platinum)

Stone Shape: The shape of the stone used by the product (e.g. round, oval)

Stone Size: The stone size inside the product

SKU Contains: The SKU contained inside the product

5. Save the Rule: Once you’ve configured the rule and filter, click OK. The rule will now appear in the list of active markup rules.

Step 4: Managing Markup Rules

After creating your rule, you can further manage its priority:

• Reorder Rules: Drag and drop your newly created rule to the top of the list if you want it to take priority over other rules. The order in which the rules are listed determines which one will be applied first.

Step 5: Executing Markup Rules

Once your markup rules are in place, you’ll need to apply them to your product prices:

1. Click the 'Execute Markup Rules' Button: In the Markup Module, click the Execute Markup Rules button to apply the rules to your product inventory.
   
    

2. Manual Cost Items: You’ll be prompted to choose whether to include manual cost items in the update. If manual cost items are included, their prices will also be updated based on your markup rules.
   
   

3. Finish the Update: After confirming your selection, click OK to execute the rules. If you have a large inventory, it may take some time for the update to complete.

4. Receive Confirmation: Once the update is finished, Flawless POS will notify you of the total number of products that were updated.
   
    

Troubleshooting

If you encounter any issues while creating and executing Markup Rules, please reach out to  Flawless POS customer support for technical assistance.