There are two ways to create a price list.
- Markup or Markdown the items by percentage
- Enter the rate for individual items
You can increase or decrease the price of all the items by a percentage. Markup - Increase and Markdown - Decrease.
- Round off the price: You can also choose how the item prices should be rounded off.
- Never Mind: The price of the item will not be rounded off.
For example, Item Price: 2,000.4578 Rounded off value: 2,000.458. - Nearest whole number: The price will be rounded off based on the decimal value. If it is equal to or greater than five, we add one to the price. If not, the price will remain as it is.
For example, Item Price: 1234.67
Here, the number is closer to 1235 and hence we add one to the price. The rounded off value becomes 1235.
Item Price: 1234.43, Rounded off value: 1234 - 0.99, 0.50, 0.49: The decimal value will be replaced by 0.99, 0.50, or 0.49 respectively.
Enter the rate for individual items
This type of price list lets you specify a custom price for each item. There are two ways to do this:
- Unit Pricing
- Volume Pricing
Unit Pricing
Unit pricing lets you define a custom price for all items, individually. If you have a huge list of items, you can choose to export them as a spreadsheet, specify the price list rate, and import it back. The export file consists of Item Price and PriceList rate, where you can specify the custom prices for all the items.
Volume Pricing
Volume pricing lets you configure the price of an item based on the quantity of items purchased or sold.
For example, when a customer purchases 200 items, then the price of those individual items will be 20. If 1000 items are purchased, the price of those individual items will be 5.
You can also export the items in an .XLS file, add custom rate and import it back.
To create a price list
- Go to Inventory > Price Lists.
- Click + New Price List.
- Enter the Name in the New Price List page.
- Choose Markup or Markdown the item rates by percentage or Enter the Rate individually for each of them in the Item Rate field.
- To Markup or Markdown the item rates by percentage, do the following:
- Choose Markup or Markdown from the dropdown list and enter the percentage in the Percentage field.
- Select the appropriate option from the Round off to dropdown list.
- Click Save.
- Choose Markup or Markdown from the dropdown list and enter the percentage in the Percentage field.
- To enter the rate individually for each item, do the following:
- Select Unit Pricing or Volume Pricing.
- If you choose Unit Pricing, do the following:
- Enter the Custom Rate for all the items in the Update Rates in Bulk Section.
You can click the Search icon next to Item Details and enter the item name to find it.
- Enter the Custom Rate for all the items in the Update Rates in Bulk Section.
- If you choose Volume Pricing, do the following:
- Enter the Start Quantity, End Quantity, and Custom Rate.
- You can click + Add New Range to specify a custom price for another range of quantity and the custom rate.
- You can also update the range in Bulk. To do so, click Update Rates in Bulk.
- Select the Items and click Update Rates in Bulk option.
- Enter the Start Quantity, End Quantity, and the Percentage. The percentage field lets you specify the markup or markdown value of the item's price. The markdown value can be specified by adding a negative (-) symbol.
Update custom rates for the items in bulk
The Import price list for items option lets you upload price list for unit and volume pricing schemes.
To import price list for items
- Enable the Import Price List for Items toggle switch in the New Price List section.
- Click Export Items.
Add the appropriate custom rates in the spreadsheet.
- Click Import Items and upload the spreadsheet.
- Click Save.
Note
- The export file under the Unit Pricing Scheme consists of the following columns:
Item Id, Item Name, SKU, Item Price and PriceList Rate. - The export file under the Volume Pricing Scheme consists of the following columns:
Item ID, Item Name, SKU, Item Price, Start Quantity, End Quantity and PriceList Rate. Appropriate values can be specified and the column name should not be altered before importing.