Price specification
Price Specification (Price)
A Price Specification is a structured value representing a monetary amount, including value and currency.
The PriceSpecification entity links a currency-specific value to an Item. It can represent a purchase price (from a supplier), a sales price (to customers), or other price types.
Each price type serves a different purpose. For example, a Promotion Price should reference a Promotion, and a Member Price is only meaningful with a member identifier.
An Item must have at least one sales price specification. If no specific sales price is present, a Default Price must exist to ensure valid gross profit calculations. Usually, both a Default Price and at least one Sales Price are required.
Price Types
| Price type | Description |
|---|---|
SALES | Regular sales price for the item. Can be set at any level in the price hierarchy. Requires a from date (and optional to date). Future prices are scheduled by setting a future from date. |
PURCHASE | The price paid to a supplier for the item. |
LOWEST_HISTORIC_PRICE | The lowest retail price in the last x days (EU Directive 98/6/EC - Article 6a). |
Statuses
Status manages the lifecycle of a Price Specification.
| Status | Description |
|---|---|
ACTIVE | The price is active and available for use. |
DELETED | The price is deleted and should not be used, except for reporting or possible reactivation. |