Pricing Method

A Pricing Method defines how an item’s price is calculated in a price list. You can apply a markup or markdown on the selling price, purchase cost, or MRP, or set a custom rate for individual items.

Create Price List Using Pricing Method

To create a new price list:

• Go to Items on the left sidebar.

• Click Price lists in the top Module bar.

• Click +New in the top right corner of the page.

• Provide a Name for your price list.

• Choose the Transaction Type of your price list,

  • Sales - Your price list will be available for sales transactions.
  • Purchases - Your price list will be available for purchase transactions.

• Select your Price List Type:

  • All Items
  • Individual Items

• If you select the All Items option, enter the following details,

  • Add Description for the price list, if needed.
  • In the Pricing Rule,
    • Select either Markup(Increases the price by the given percentage) or Markdown (Decreases the price by the given percentage) in the first dropdown.
    • If you have selected transaction type as Sales, you can select either of these options in the second dropdown,
      • Sales Price – Uses the selling price set for the item during creation.
      • Purchase Price – Uses the purchase cost entered for the item during creation.
    • Enter the Percentage. Use the (%) dropdown to switch to your base currency. This allows you to increase or decrease the item price by a percentage or a fixed amount in your currency.
  • Select your Round Off To method for the pricelist.
    • Never mind – No rounding is applied; the value stays exactly as entered.
    • Nearest whole number – Rounds the value to the closest whole number.
    • 0.99 – Always rounds the value up to the next whole number.
    • 0.50 – Rounds the value up when the decimal part is 0.50 or higher.
    • 0.49 – Rounds the value down when the decimal part is 0.49 or lower.
    • Decimal Places – Enter the number of decimal places to which the value should be rounded.

• If you have selected the Individual Items option as your Price List type enter the following details,

  • In the Items tab, choose your Pricing Scheme
    • Unit Pricing – Set the Pricing Rule Markup or Markdown and Sales or Purchase Price for each item. You can also set a Custom Rate for each item.
    • Volume Pricing – You can set the Custom Rate based on the quantity range.
      • You can also det the Pricing Rule Markup or Markdown and Sales or Purchase Price for each item.
      • You can view all the item’s Sales and Purchase price.
      • Enter the Start Quantity, End Quantity, and Custom Rate across the required item. You can also search for an item from the list by clicking the Magnifier icon next to Item Details.
      • Click +Add New Range to add another range. You can only add up to 10 price ranges per item.

• Click Save.