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Updating Product Price and Cost

To perform accurate margin and ROI analysis, cost and prices are available at the account product level. As prices change over time, this information is stored at the Product Baseline level. When price lists or costs lists change, you can identify which product baseline records have been affected, and, in turn, which periods, products, and accounts need to be restated.

When the product baseline record is created in Administration - Data, Account Product, the Baseline applet, the Product Price and Cost fields are populated automatically. You can associate the price list with the account and populate price and cost for the product baseline.

To update produce price and cost

1. Navigate to Administration - Data, Account Product, and then the Baseline view.
2. Click the Update Price/Cost button to populate the price and cost for future account product baseline records.

   In Administration - Data, Account Product, Baseline, when a new record is created, it automatically populates the price and cost if the price/cost lists are associated with the account.

   When baseline records are created, but the price list is later associated with the account or any update in pricing or account price is associated in Administration, Pricing, the user can click the Update Price/Cost button in Account Product, Price Lists view or in Account Product, Baseline view to populate or update the price/cost value for product baseline records.

   If any pricing is updated in account product baseline records, and those records are used in an account promotion, then the Refresh Pricing button in the promotion applet is enabled.

3. Click the Refresh Pricing button to refresh the data related to the pricing change of product baseline in the promotion hierarchy.