What is this for?

Price rounding rules are used to to round the 'cents' of a product when the price is being discounted using a set formula (such as customer-based pricing) or being imported from an outside sources where the price is being calculate using a formula.  MicroBiz only rounds the cents of the price of an item or to the nearest $1, and cannot be used to round to the nearest $10, $100, etc.  Price rounding rules help with data entry, data imports and API catalog connections to set store and customer-based prices. 

For example, say you enter or import a new item with a cost of $27.85 and you want a 54% Gross Margin on all your products. This would make the price $60.54348. Most stores will want their prices to be whole amounts or have fractional amounts ending in ‘99’ or ‘95’ or something like that. A rounding rule to set the Price Ending to ‘0’ would automatically make the store price $61.00 in the example above, one set to ‘99’ would make the store price $60.99.


Where is it used?


  • During Catalog API imports – if you are browsing an external vendor product catalog through the Catalog Search Feature (if enables), depending on the field mapping definitions – importing a product record will look at cost, MSRP, MAP and calculate the store price then apply the rounding rule.
  • During product imports from CSV – depending on the field mapping definitions – importing a product record will look at cost, MSRP, MAP and calculate the store price then apply the rounding rule.
  • When automatically calculating the price for a customer pricing group. The pricing group rules will look at regular store price, cost, MSRP, MAP and calculate the customer pricing group price then apply the rounding rule.


How does it work?



To create a new rounding simply give it a name and set your rounding conditions. There are only 2 conditions to consider:

  • Rounding Break Point – in standard math rounding generally happens at .5. When you round to whole numbers any decimal portion from .50 to .99 rounds up to the next dollar. But retailers often want to add a little extra into the initial price, knowing that coupons, discounts, promotions and special customer pricing will eat into their maintained margins. Rounding point can be set anywhere between 1 and 99 and will round up once that decimal value is reached. This way you can round up to the next whole currency amount at .25 or .40.  Consider a wholesale cost of 68.52 and an initial 2.5x markup. With a Rounding Break Point of .30 the initial math of 171.30 is rounded to the value entered in the 172.00
  • Price Ending – price ending allows you to adjust your whole number price rounding to generate the last two digits of an items price that fits with your current business practices. Any number can be used but the adjustment is always down from the initial rounded value – so an ending of 99, applied to a rounded value of 172.00 would yield a price of 171.99.


Examples



Example 1: Round up to Prices Ending in '.99' using Customer-based Pricing 


Step One - Create Pricing Rule

Begin Sale Price Range: 0.01 (effectively all products will be in this range) 

End Sales Price Range: 9999999 

Rounding Break Point: 50 (calculated 'cents' prices above 50 cents will be rounded up and cents prices below 50 will be rounded down)

Rounded Price: 99 (cents will round to 99)

Status: Set to Active





Step Two - Select Rounding Rule in Customer Based Pricing form


Use the dropdown menu in the Customer-based Pricing form to select the desired Rounding Rule.


Example 2: Round up to Prices of Products over $100 to Nearest Dollar 


Begin Sale Price Range: 100.00 (rule will not be applied to products priced < $100) 

End Sales Price Range: 9999999 

Rounding Break Point: 50 (calculated 'cents' prices above 50 cents will be rounded up and cents prices below 50 will be rounded down)

Rounded Price: 0 (cents will round to 00)

Status: Set to Active





Other Settings


  • Register Transactions Default Settings - If your would like to have a rounding rule apply to all register transactions, go to Settings > Advanced Settings > Product Settings and select a Rounding Rule.
  • Range Begin/Range End – this can be used to limit the before rounding retail value of the price. If you do not want products under 10.00 or over 10,000 rounded you can set the range, here. The default is 0-10,000 generally covering most products carried by our customers.
  • Active/Archived – you can turn off the rule by disabling it.