Knowledgebase: Frames Inventory
How to quickly setup frame retail pricing with Frame Markup formulas
Posted by on 30 Nov 2012 02:39 PM

Purpose

This article provides information on how frame markup formulas are applied within My Vision Express. 

info The Frame Markup screen allows you to specify the formulas used to calculate the retail price of frames being added into your frame inventory.

Steps

  • To access the Frame Markup screen, navigate to File > Setup > Frame Markup. 
  • From here, you can add a new markup formula by clicking the 'Add' button, delete an existing formula by clicking the 'Delete' button, or modify an existing formula by selecting it from the list and then modifying it under the Frame Markup Details section.

Utilizing this process will allow you to manually override the retail price calculated by the system for any given frame. These formulas will then automatically calculate the retail price for the frame.

 

check For information on importing frames from the SPEX UPC CD please click here.

The frame markup formula will apply to any frames that fall within the 'Start Group Cost' and 'End Group Cost'.

  • For example, if the Start Group Cost is $50.00, and the End Group Cost is $300.00, any frames that fall within that price range will have the frame markup applied.

In addition, you can further narrow down the frames selection that you wish the formula to be applied to by specifying a frame collection in the 'Collection' drop down.

info NOTE- If the 'Collection' field is left blank, the formula will then apply to all frames within that range.

Amount - The amount, if any, you wish to be added to the retail price of any frames this formula applies to.

Ceiling Up - Selecting this option will round the price of the frame up to the next whole dollar amount.

Ceiling Down - Selecting this option will round the price of the frame down to the next whole dollar amount.

Multiplier - Multiplies the 'amount' of the group cost of the frame times whatever this field is set to.

Ends with - Determines what the final cost of the frame will end in based on what amount is entered here. For example, if the retail cost is $150.00 and 'Ends With' is set to 0.99, the final retail cost will be $150.99.

Next Multiple of Ten - When this option is selected, it will round to the nearest value of '10' (either up or down, depending on the 'Ceiling' selected). Using this field disables the 'Ends With' field.


framemarkup

 

Based on the formula shown in the screenshot above, if the group cost of the frame was $36.00, the final retail price would be as follows:

['Group Cost'  'Multiplier'  'Amount']  Ends With' <Ceiling>    Retail Price
     $36.00    x        2        +  $50.00    +    0.99     Down    $121.99

Once the Frame Markup formula is configured, you can then apply it to the collection (or, if the collection is left blank, all frames within that group cost range) by clicking on 'Update Pricing'.

 


 

For additional assistance please contact My Vision Express Support

1-877-882-7456 ext 3

 

 

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Comments (9)
Alisha
01 May 2014 04:46 PM
The frame mark-up formula is very limited. It doesn't allow you to add more money to specific frames based on their frame types. For example, a drill mount frame would cost more because we have extra lab costs for drilling the holes. A semi-rimless (nylon) frame would have extra costs as well.
Carlos Ramos
05 May 2014 05:16 PM
Rimless drill and groove options are additional charges that can be set up in the Lens Treatments inventory (FILE > Inventory > Lens Treatments).
Dale Clemens
16 Jun 2014 03:49 PM
Yes, that's true, but the "optician" has to remember to select the appropriate V code for the drill or groove service. It would be nice to attach the appropriate V code to the frame much like v2020 so as to not miss the required code, and then therefore miss the additional fee/revenue.
David Vega
01 Jul 2014 01:14 PM
Dale there is an option to automate the charge when the specific frame type is selected. Review the article below for instructions on setting up the feature.

Link: http://support.myvisionexpress.com/index.php?/Knowledgebase/Article/View/935/0/how-do-i-setup-an-automatic-rimless-andor-grooved-charge-to-an-order
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