Product Pricing

Price handling provides great flexibility in determining sales prices and maintenance of the purchase and sales prices in the product register.

Tip! In the company settings for product - in the Default Values tab - you can define default values which will be used automatically when you register a new product. These settings will be used for all new products. Already existing products can be edited by using the Price Adjustment feature. Read more in Changing Prices for a Selection of Products.

Sales price

A product's sales price is in the field for Sales price via the Price tab in the product register. If you have activated the company setting Company wants to track the price history for products you must first click New. You can enter the amount in the Excluding VAT column or in the Inclusive VAT column. The system will calculate the VAT amount and enter it in the opposite column.

You can use different prices for different periods, e.g. a campaign that runs for a limited period. If you use differentiated prices you should activate the display of price history in company settings for product.

You can also use the External Price list to show adapted prices, which apply to one particular customer or to a selection of customers.

Product Register: The Price Tab

Company Settings for Product

External Price List - Customising the Price List

Discounts

You can offer various discounts to single customers or a selection of customers. Discounts can be given as quantity discounts, as a percentage or as a nominal value.

You activate the usage of discount deals for individual customers for single products, quantity discounts and discount for customer categories through company settings for product.

To simplify the maintenance of discounts you can predefine prices and discounts for a variety of combinations of customer categories and product groups through the Discount register.

Discounts

Product Register: The Discount Tab

Company Settings for Product

The Discount Register

Surcharges

In addition to the ordinary sales price you can add a surcharge. You will have to activate this in the company settings for product. The surcharges are registered in the properties register under Surcharges. These can be calculated as unit price, price per unit weight, price per unit volume or as a % of sales value or % of cost price.

Company Settings for Product

Company Settings for the Properties Register

Cost price

If you want to estimate gross profit etc. you will have to register the Purchase price. This can be entered directly or be estimated on the bases of the purchase prices in the Supplier info tab.

In addition to the purchase price, expenses such as freight, duty etc may apply. They can be registered in the Expenses field. Together, the purchase price and expenses make up the product’s Cost price.

With two ways of registering extra cost for purchasing, i.e. posting Duty/Freight invoice or post freight and handling directly in the supplier invoice, available, you can select whether these two types of expenses will be included in the cost price. You will find the selections for this in company settings for product.

The Cost price field is automatically calculated as the sum of the purchase price and expenses.

Product Register: The Supplier Tab

Company Settings for Product

About Cost accounting and Accounts update of stock value

Price Changes

The sales price can be changed directly in the product card. If the sales price is changed manually, you can decide that this will update the price calculated in % or by a fixed gross profit. The default setting is that a change in the sales price does not change the cost price, only gross profit.

The wizard for Price adjustment makes it possible to adjust the prices for a group of products in one operation, as well as fixed sales prices in different currencies.

You can choose whether the purchase prices will continuously affect the sales prices and if so, how it will be updated. If you want to estimate gross profit manually, you can do this directly through the Price calculator without further settings. You can also automatically update the sales price in the following ways:

If you do not want the changes in cost price to affect the sales price, you can let the changes in cost price influence gross profit and the sales price remain unchanged.

You can select that the purchase prices will update the purchase prices and expenses in the product card when the purchases are posted. This selection is activated through company settings for product.

Note! Be aware that if you update both cost price at posting and leave cost price changes to influence sales price then sales prices will automatically change when purchasing is posted.

How to change/edit the Product Price

Changing Prices for a Selection of Products

Company Settings for Product

Prices in different currencies

On a product's product card you can enter fixed sales prices in one ore more different currencies. These prices are fixed for a single product and you can individually define them according to your company's needs. In addition to this, you can adjust fixed sales prices with the Price adjustment functionality. Fixed sales prices in different currencies have to be activated via the company settings for products.

If you do not want to enter a fixed sales price for a product, you can nevertheless create orders in different currencies. If you add a product to a sales order in a different currency, the product's sales price will be re-calculated based on the actual sales price in company currency and the exchange rate defined in your Currency Register.

In order to add a product with a sales price in a different currency to a sales order, the order has to be set to the currency: If a customer has defined a different currency on his contact card, new sales orders will contain this currency per default. Furthermore, you can change the currency directly on one particular sales order.

How to change/edit the Product Price

Product Register: The Price Tab

Currency

Company Settings for Product

Settings

In User Settings for Product you decide what is to be displayed in the screen. You can also make selections that will simplify the registration process.

Company Settings control the manner of program usage for all users.

User Settings for Product

Company Settings for Product

Read more about:

The Product Module

Organising and Managing Products