Rounding schemes

This article provides instruction and information on the following:

• How to set up a rounding scheme
• How to apply a rounding scheme to an inventory item
• How to set up a rounding scheme for a supplier

How to set up a rounding scheme

With a rounding scheme, you can round up prices set by EDI, or create a reference margin calculation to a common set of prices or price endings, such as .49 and .99. To do this, you define a rounding scheme with rounding price points. Each original price is rounded up to the next largest rounding price point. 

Example: If you have rounding points of  3.49 and 3.99, a price of 3.75 would be automatically rounded up to 3.99.

For prices that are greater than the largest rounding point, additional points are automatically calculated based on the difference between the two largest rounding points.

Example: If your last rounding points were 5.49 and 5.99—a difference of 0.50—subsequent rounding points can be created by adding increments of 0.50 to the last rounding point creating these points: 5.99 + .50 = 6.49, 5.99 + (2 x 0.50) = 6.99, and so on.

In addition to the rounding points, you can set a Retail Mod % that will increase a price by a specified percentage before rounding. 

Example: Assume you have a Retail Mod % of 1 percent (%) and price points of 5.00 and 5.50. For a starting retail price of 5.00, the Retail Mod % will first apply a 1 % increase of 5 cents: 5.00 + 0.05 = 5.05. Then, the rounding process would increase the price to 5.50. Without the 1% increase, the price would have remained at 5.00.

Price points (rounding) and the Retail Mod % (if set) are automatically applied when EDI updates an item in these scenarios:

• New stock on hand is received.
• The supplier changed the price.
• The retail cost changed.

Note: You can also apply price points to an item when you manually receive a purchase order as long as you set a reference margin first. Refer to: Reference margins

Example of a rounding scheme: If you want prices under $5 to end in either .49, .79, .99, and prices greater than $5 to end in .99, you would specify the following rounding points:

Rounding points	Rounding for prices under $5	Rounding for prices between $5 and $5.99	Rounding for prices of $6.00 or more
.49, .79, .99, 1.49, 1.79, 1.99, 2.49, 2.79, 2.99, 3.49, 3.79, 3.99, 4.49, 4.79, 4.99, 5.99	Prices round up to the next largest rounding point. Examples: $0.37 rounds up to $0.49 $1.05 rounds up to $1.49 $3.50 rounds up to $3.79	Prices between $5.00 and $5.99 round up to the next largest pricing point of $5.99. Example: $5.43 rounds up to $5.99	For prices of $6.00 and more, additional rounding points are calculated based on the interval between the last two rounding points—4.99 and 5.99. In this case, the difference is $1; therefore, additional rounding points are created in $1 increments: $6.99, $7.99, $8.99, and so on. Examples: $6.03 rounds up to $6.99 $10.44 rounds up to $10.99

To set a rounding scheme:

1. In Paladin, from the main menu, select File > Setup.
2. Select the Rounding tab.
3. In the Rounding pane, in the Scheme Name box, enter the name for the scheme.
4. Click Add. The name of the scheme will be added to the rounding list.
5. In the list of rounding schemes, highlight your new scheme name.
6. To add rounding points:
   1. In the blank unnamed box on the right above the Add button, enter a rounding point, then click Add. The rounding point appears in the rounding point list. Repeat this step for each rounding point.
7. If you want to apply a percentage increase to the price prior to applying rounding points, in the Retail Mode % box, enter a percentage value without the percent sign. For example, enter the number 1 to apply a 1% increase.
8. Click Save, then click Close.

To update the prices in the rounding scheme, the item must be set up to be received through a manual purchase order or through EDI processing. Refer to: Reference margins

To set up price updates through rounding points when EDI is received, contact Paladin Support.

Back to Top

How to apply a rounding scheme to an inventory item

1. In Paladin, on the top ribbon, select the Inventory module.
2. Enter a part number In the Part #.
3. Press Enter.
4. Open the Pricing tab
5. In the Pricing Levels pane, in the Rounding column, select the rounding scheme from the list.
6. Click F12 Save.

Back to Top

How to set up a rounding scheme for a supplier

1. In Paladin, from the main menu, select File > Setup.
2. Select the Supplier tab.
3. In the Suppliers pane, in the list of suppliers, highlight the supplier you want to edit.
4. In the Price Rounding Scheme pane, in the Price Rounding Scheme To Use list, select the rounding scheme that you want to use for this supplier.
5. Under Set all items with this primary supplier to this rounding scheme, click Set Rounding.
6. Click Save, then click Close.

Back to Top