Sometimes you'll need to change the markups you're using for your parts, whether it be restoring the industry standard, or completely redoing them from scratch, this article will show you everything you need to know to do so.
First, we'll go over what your markup section looks like initially, and describe some of the terms and buttons on that page. The following image demonstrates:
MANAGING PARTS MARKUPS (PART 1)
This is in the lower half of the [Business Information] tab. The image describes the terms being used in depth, so I won't go over them too much until we get to the next image. For now, click [Add Markup] is indicated in the image above. Doing so will bring up the following prompt.
MANAGING PARTS MARKUP (PART 2)
As it says above, [Lowest Value] is the minimum price a cost must be before this markup will apply and [Highest Value] is the maximum value a price can be before this markup will cease applying. For now, let's say I want a markup that applies to every part that costs $1 or less. I would put 0.00 in the [Lowest Value] field and 1.00 in the [Highest Value] field.
After that, I'll need to decide how I'm calculating this markup. Namely, am I looking for a certain profit margin, or do I just want a certain markup%. If I'm looking for a 35% profit margin, I'll need to click profit from the [Mark-Up] drop down and then put 35.00 in the box that appears next to it.
If I'm not interested in the exact profit margin and I just want a 400% markup on all parts that cost less than a dollar, I'll click Markup% from that drop down list instead. Then, I'll type 400 in the box that appears next to it.
After doing so, click [Save] to add this new markup to the list. Doing so should bring you to the following screen.
MANAGING PARTS MARKUP (FINAL)
As you can see, my new markup is right there. I've deleted the industry default markups just to show you that I added a new one.
The image above describes it pretty well, but the last thing you'll need to know is that if you need to edit an existing markup, just click the little pencil and it will bring back the pop-up box from the last image.