Hi
Regardless if you are using a manual system or a POS, it takes some research of the local market and of your financial goals; to determine the appropriate pricing. Pricing varies greatly by area, and there are many reasons for this.
It comes 'out of the box' with an approximate/average pricing example, but every framer's goals and local market values will vary. It requires periodic fine tuning, just like a manual system. One advantage to a POS is that it will automatically mark up the retail price a bit, when there are wholesale price increases. It does this by using the new/adjusted cost times the multiplier you have chosen. The cost and item changes are transmitted regularly, and you can update at any time by clicking the "Update" button.
Perhaps it would help to do some exercises on paper, to compare what your old system would charge versus the computer/LifeSaver? By comparing the results side by side, I think it will make much more sense. It may also be a good time to re-evaluate this whole process, and do some comparative market research.
Some folks use the wholesale ranges, and others set them all the same. One example of it's use might be for someone who wants to charge a higher markup for "paper mats"(ex: 5x), and a regular markup for "rag, a/c, and archival mats"(ex: 3.6x). Their goal may be to minimize price resistance by making them closer in price.
This might be done by defining sheets costing 0.01-5.00 (the paper mats) with a 5x markup/multiplier, then 3.6x for 5.01-999.99 (everything else)
The multipliers and costs in my example were made up, and shouldn't necessarily be taken seriously.
Markups can be defaulted globally, by vendor, or even by individual moulding or mat #.
Here are some tips compiled from a different thread:
http://www.getthepictureframing.com/gfaq/LSS-TIPS.pdf
The mat markups are also explained in greater detail in the LifeSaver manual on pages 9-10 (hit F1 key while inside LifeSaver to get the manual on screen).
I hope this clears up some of the confusion. Feel free to visit the chat room if this isn't clear. Folks are there during business hours, every day. Don't be shy about stopping in any time. If no one is there to help, you also have the option to call LSS support.
Best regards,
Mike
Moderator