How does a standard gross margin work?

How does a standard gross margin work?

Products by default can have a Standard Gross Margin that would apply to all the products in that product line. To set a Standard Gross Margin, follow these steps:
  1. Go to Setup > Setup Product Line
  2. Select an existing Product Line (or create a new product line)
  3. Enter a Standard Gross Margin % into the field 
  4. Click Save
  5. Upon Save, a pop up asking, Would you like to apply the new standard gross margin percent to all existing products and update their prices? with two options:
    1. YES - Update all existing prices.
    2. NO - Do not change existing product prices

Gross Margin % cannot exceed 99.99%, values entered higher than 99.99% will be defaulted to 99.99%.