Within DEAR Inventory there are a number of ways of pricing your products to customers, depending on the specific levels of information and reporting that you require. We will explain these below in sections from simple to complex, along with some clarifications where appropriate.
DEAR Inventory lets you set up to 10 price points for each individual product. Customers are assigned a price tier which sets what price they can buy products for. Price Tier names are set up in General Settings while Price Tier values are managed from the Inventory module.
Price tiers can be assigned to customers on the customer details screen or to a sale order in the document header. The sale order price tier takes priority over the customer price tier.
Static pricing is the simplest pricing. On the Prices tab, simply click the Price field for the price tier and enter the static value.
NOTE: Static price tiers do not undergo currency conversion. For example, consider two customers: Customer 1 has a base currency of AUD (your base currency), while Customer 2 has a base currency of USD. If they are both assigned the ‘Retail’ price tier of 200 for a product, the sale order for Customer 1 will display AU$200, while the sale order for Customer 2 will display US$200. If using simple pricing, we recommend to use separate price tiers for customers with other base currencies. For example Price Tier 1 might be Retail AUD and Price Tier 2 might be Retail USD
Price Tier amounts can also be calculated using multiple different base prices. To enable this option, simply check the Calculated box for that price tier.
Calculated prices are calculated from different base values, which can then be marked up. DEAR allows you to choose from four base values:
- Average Cost – this is the default base value.
- Fixed Supplier Price – fixed supplier prices are set on the Suppliers tab for the product. If the fixed supplier price is in a different currency, it is converted into the user base currency first before the markup price is calculated.
- Last Supplier Price – the last supplier prices for a product can be viewed on the Suppliers tab for the product. If the last supplier price is in a different currency, it is converted into the user base currency first before the markup price is calculated.
- Price Tier Value – the number in the Value field is used as the price.
Using Calculated Pricing for Multi Currency
Given the above logic, you can use calculated pricing to achieve some multi currency logic if you wish. There are some positives and negatives for this depending on your exact business processes.
Using a ‘static’ multi currency price is generally better where you sell products in more of a retail or B2C setting and need to sell at the same price every day. i.e. if I’m selling tea bags to the United States, I can’t sell them to Bob for $3 per 100 today, and Sally for $3.10 per 10 tomorrow because the exchange rate change.
For more B2B and international wholesaling businesses, they might want to set their pricing off an AUD base and convert each time. Essentially there is just ‘one’ price (the AUD, or home currency) logic bases off this. See below for an example image of how this ends up looking in the DEAR Product Listing (see Price Tier 5 specifically):
See below for two images showing the different results here (Sales Order for 1x Product for a price of ‘150’) based on the setup options within the Product:
Price Tier is set to ‘Fixed’ type, and value of 150 (i.e. RRP above)
Price Tier is set to ‘Calculated’ and value of 150 (i.e. Price Tier 5 above)
Rounding tables are used to adjust calculated prices to implement special price endings/charm pricing strategies. Rounding tables are set up in General Settings.
Set up a rounding table:
- Navigate to Settings -> General Settings -> Rounding Table.
- Click + to add a new rounding rule.
- Enter the range of numbers to be covered by the rule. The first number under the Range from column is always 0 while the Range to column should be the greatest number that will be covered by the rule.
- Enter a value in the Round to Nearest column. This will be the rule that DEAR will use for your calculated prices. For example, if the Round to Nearest value is 0.1 and the Calculated price is 8.54, the price will be set to 8.50 after applying the rounding rule.
- By default, No adjustment is selected as the adjustment rule. This means that the amount will not be adjusted after the rounding rule is applied. You may change this to either Add or Subtract.
- If the adjustment rule is set to Add or Subtract in Step 5, enter a number under the Value column. This is the amount that will be added to or subtracted from the price after the rounding rule is applied.
- Repeat the steps above to set up your other rounding rules, then click Save.
Product Deals and Discounts
If you want to handle more unique examples, such as Buy X, get Y free – or spend quantity break pricing, you can use one (or both) of Product Deals or Product Discounts. There’s more information on both in our associated 101 on this blog.
If none of the above methods allow you to get the specific result that you wish, you can use Custom Pricing in DEAR. This allows you to set an override price as detailed as for an individual product, and an individual customer. There are three main ways to set this up:
Set a Custom Price from a Product’s Details Page
To manually set a custom price for a product:
- Navigate to Inventory -> Products.
- Search for or select the product to which the custom price is to be added.
- On the product’s Details page, click the Custom Prices tab, then the + button.
- Enter and/or select the customer’s name from the list, then add the custom price.
- Click Save.
Set a Custom Price from a Customer’s Details Page
To manually set a product’s price for a customer:
- Navigate to Sales -> Customers.
- Search for or select the customer to which the custom price is to be added.
- On the customer’s Details page, click the Product Prices tab, then the + button.
- Enter and/or select the product’s name from the list, then add the custom price.
- Click Save.
Set Bulk Custom Prices via a CSV File Import
To bulk upload different custom prices for several products at once, you need to download the sample CSV file, and enter the custom prices and other required information on the file before uploading the file back on DEAR.
- Navigate to Inventory -> Products.
- Click Import -> Custom Prices.
- On the Import Custom Prices page, click the custom prices CSV template file button, then save the template file to your PC.
- Enter your inventory list and the required information per product on the template file.
- Either drag the filled-in template file to the designated upload area, or click the button, select the template file from your PC, then upload the file back to DEAR.
- Upon successful upload, click Save.