Before changing from Exclusive to Inclusive pricing the following steps should be followed
- All saved invoices should be posted before the update is made. Otherwise you will need to delete each line and then add it back to the pending invoice.
- All jobs should be invoiced and posted, otherwise the items will need to be deleted and added after the price level update.
- Any POS held invoices need to be processed
- You will need to note that the sales analysis reports will need to be checked as well. The sales analysis reports are based on invoice data for historical periods. It will incorrectly report the profit margin as the reports and will assume that the sell prices on those old sales are GST inclusive, so will subtract GST from the sell rate when evaluating the profit margins on all future reports.
- You will need to use the Update Product Prices Utility to increase each used price level by 15%.
- Recalculate Kitsets to reflect the increase prices
- You will need to update all Contract Rates by 15%