Pricing — How Selling Price and Cost Work
Pricing in iShopMaster is deterministic and currency-consistent, designed so margins are accurate even when the same SKU was bought at different costs over time.
Price precedence
When the same SKU has been purchased in several batches, iShopMaster resolves the selling price in a defined order.
- Order
- Most recent purchase-batch price → variant default price → item-level price.
- Why
- The latest cost drives the shown price, keeping margin realistic as supplier prices move.
Cost, profit and money handling
Cost is captured where it happens, and money is stored consistently.
- Integer money
- Monetary values are whole numbers in the tenant currency (default LKR) for consistency across the system.
- Cost & profit
- Cost is tracked per batch and per unit; profit, supplier history and item analytics are computed on demand.
Multi-currency and tax
Pricing adapts to the business without storing duplicate prices per product.
- Exchange rates
- A rate table (manual or API sourced) converts against the tenant base currency.
- Tax
- Configurable VAT, GST or Sales Tax with rate and inclusive/exclusive handling; an optional Zakat module is available.
Frequently Asked Questions
How does iShopMaster decide a product’s selling price?
It uses the most recent purchase-batch price first, then the variant default, then the item-level price.
Does iShopMaster support multiple currencies?
Yes, via an exchange-rate table against the tenant base currency (default LKR). Products are not stored with multiple prices.
Can I configure tax?
Yes — VAT, GST or Sales Tax with rate and inclusive/exclusive handling, plus an optional Zakat module.
Explore the rest of the system
- Product CatalogTwo-level catalog — product families and exact sellable SKUs — with SKU, barcode and IMEI identifiers.
- Inventory & IMEIPer-IMEI serialized units, batch stock, an event-sourced movement ledger, and branch-scoped availability.
- Repair & ServiceAn enforced, auditable repair lifecycle with job cards, role separation, quality tiers and margin protection.
- Warranty & ReturnsTwo-phase warranty policies with terms snapshotted onto each sold unit, plus returns and supplier RMA.
- ProcurementSuppliers, RFQs, purchase orders, goods receipts and returns — where stock cost and price are established.
- POS & AccountingPOS with a ledger-verified cash drawer, plus a real double-entry ledger and IFRS-style reporting.
- Security & Multi-TenantDatabase-per-tenant isolation, per-branch scoping, role-based access, quotas and a forensic audit trail.
- Integrations & APIA versioned REST API and an API-key marketplace with webhooks; catalog data maps to product feeds.