Set Up a Rounding Rule Using Round Down and Multiple Of Options

Subject

This article provides the steps on how to set up a rounding rule so the price rounds down and use multiples of .25. For example, if the price calculates as $8.77, then RPM returns the price of  $8.75.

 

Resolution

A local garden store has decided to change the pricing of the summer plants and wants the prices to be rounded down to any multiple of .25.

To set this up in RPM, follow these steps:

Create Rounding Rule

1. In RPM, click Rounding Rules from the Pricing menu.
2. Click Add New.
3. Enter a Rounding Rule Name. In this example, we’ve entered Down To Multiple of 0.25.
4. In the Rounding Direction Option field, select Down.
5. For the Rounding To Option, select Multiple Of.
6. Enter .25 in the Rounding Amount field.
7. Click Save.

 

Assign Rounding Rule to Price Schedule

1. In RPM, click Price Schedule from the Pricing menu.
2. Select the Price Schedule from the list and open it. In this example, we are using Summer Plants.
3. In the Rounding Rule field, select the Rounding Rule created from the previous steps.
4. Click Save & Close.

Note: You may also add a Rounding Rule to a Price Calculation.

 

Use Pricing Test Scenario

Pricing Scenario’s allow you to review the current pricing and verify it is correct. Using the Rounding Rule and Price Schedule above, check the price.

In this example, we are working with two Items.

Begonia – List Price = $8.77
Geranium – List Price = $9.45

1. In RPM, click Pricing Scenarios from the Tools menu.
2. Click Add New.
3. Enter a Name for the Pricing Scenario, such as Rounding Rules Testing.
4. In the Price Schedule field, select your Price Schedule.
5. From the Item lookup, select your Item.
6. Select a Unit of Measure for the Item.
7. If the Currency does not default, select the Currency.
8. Click Save.
9. Click Execute.
10. Click the Results tab and note the Last Returned Price.

 

View Diagnostics

To see how the price was found and calculated, Click View Diagnostics from within the Results tab.

In this example, the results for the Begonia and Geranium are as follows:

Pricing Diagnostics – Begonia:

List Price = $8.77
Returned Price = $8.75

Pricing Diagnostics – Geranium:

List Price = $9.45
Returned Price = $9.25