If your business sells items from your inventory, you can set flexible pricing options using the Pricing Tab.
The pricing tab is used to record the actual cost of the item, set the sell value and set stock alert levels for replenishment.
Click the relevant expand for the kind of pricing you'd like to learn about.
Item cost
This is your basic costing for the item and basis for your markup calculations. |
Cost Fields
Cost Setting |
Description |
---|---|
Cost | Used to record the true cost of the item, i.e. what you paid for it. |
Calculated Cost Type |
This field takes figures from your purchase orders and uses them as a basis for your markup calculations. You can choose from:
|
Sell pricing
The Sell area lets you set up either simple pricing or detailed pricing for an item.
Simple Pricing
Simple pricing is used to apply the same Sell price settings across Quotes, Tasks, and Invoices.
Simple Pricing Fields
Default Markup Type Setting |
Description |
---|---|
Not Set | This is the default. If you leave this option in place, the item markup will be determined by the Business Unit markup. |
Cost + Markup | Used to set a markup (%) which is applied to the Cost to calculate the Sell price. |
Calculated Cost Type (Max, Avg, Last, Set) + Markup | Used to set a markup (%) which is applied to the nominated Calculated Cost Type to calculate the Sell price. |
Sell | Used to set a fixed sell or 'list' price, such as RRP. A sell price has no direct link to the Cost or Calculated Cost. |
The Markup % and Sell values are linked. Changing one will re-calculate the other.
You can unlink the Markup % from the Sell value by clicking the Lock Pricing to Default Markup Type button ().
Example: Setting a Cost price of $100, you could specify a Markup % of 25% (giving $125) when markup % is used, or an unrelated RRP such as $300 when Sell price is used.
You can then set Client Default Markups to charge one client based on the Markup % and another based on the Sell price.
Detailed Pricing
Detailed pricing lets you configure different price settings on Quotes, Tasks, and Invoices. This is useful when you want to sell an inventory item for a different price in each scenario.
For example, with higher value items you may wish to apply different price settings based upon your business scenario:
- Quote: Use Cost + Markup on a quote when you get special pricing for larger quoted work.
- Task: Use Average Cost + Markup for standard do-and-charge work.
- Invoice: Use fixed Sell when you sell items across the counter at a set RRP amount.
Detailed Pricing Fields
Area | Setting | Description |
---|---|---|
Quote | Default Markup Type | Quote pricing is applied when adding material items to a quote based on one of the following settings (as explained in Simple Pricing above):
If quoted material items are added to a task, the same quote pricing will apply when an invoice is generated from the task. |
UR / Lab | If you quote for labour with a UR (Unit Rate), you can enter the value for this item here. UR is the time taken (in hours) to install this material item. This UR value is automatically added to a quote when you select the item. | |
Lab Line Markup | If you add a percentage markup to labour, this can be entered here. This markup is automatically added to a quote when you select the item. | |
Task
|
Used to set a different Sell price which is applied to inventory items booked on a task, and which are included in part/final invoices generated from the task. | |
Invoice | Used to set a different Sell price which is applied to inventory items that are added directly to an invoice (not included on the task), such as a part or final task invoice or counter sale invoice. |
A quicker way to edit Sell Price
The Sell Price set in the process above is shown in the Manage > Inventory views, (e.g. when you search for the item in inventory).
If the inventory item is set to use Sell pricing, you can edit the sell price directly within the inventory list.
If the inventory item is set to use Cost + Markup or Calculated Cost Type + Markup, the sell price will be greyed out in the inventory list. In this case, you will need to edit the Cost (ex) or Calculated Cost (ex) fields in order to update the sell price.