Pricing and price tiers

Cin7 Core 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.

Setting prices at the product level is optional since they can also be set and modified at the purchase or sales level. Price tier amounts can be set manually or calculated using markup rules, including the option to dynamically follow changes in supplier pricing.

You can also set custom product prices for different customers. See Custom Pricing for more information.

Before you start

• Set up Products (required)

• Set up Suppliers (recommended)

• Permissions:

  • Users will need the Settings: Your Company - General Settings permission to edit price tier names and rounding tables.

  • Users will need the Inventory - Products and families and Product – Price info permission to edit price tier values.

Set static prices

Static pricing is the simplest type of price, you can set up to 10 price values (one per each price tier), and these will not change. Go to Inventory → Products, and then look for the Prices tab. Next, simply click the Price field for the price tier and enter the static value. Make sure that the Calculated box is unchecked. The other fields will become read-only and will not affect the price, even if they have already been filled in.   

Set calculated or dynamic prices

Price tier amounts can also be calculated using a base price which is then dynamically altered based on other factors. For example, conversion to different currencies, adding a markup percentage, increasing with the supplier price, and more. Dynamic prices are also set from the Products page of the Inventory module, then selecting the Prices tab.

Dynamic or calculated prices come in two types:

• Markup % — The Price is calculated as a percentage of the base value. You choose the base value (Use) and a percentage (Value).

• Append — The Price is calculated as the base value plus some amount. You choose the base value (Use) and an amount (Value) in your local currency.

The type of calculated price is applied to your base value. The following base values are available — see Examples of calculated prices below for a worked example of each:

• Average cost — Default base value. See how Cin7 Core calculates average cost. The product’s current average cost is also shown in the pricing table.

• Fixed price — Defined on the Suppliers tab. If multiple fixed prices exist, the most recent is used. Foreign currency prices are converted to your local currency first.

• Latest price — Defined on the Suppliers tab. Foreign currency prices are converted to your local currency first.

• Price tier value — Uses the amount you enter in this tier's Value field directly as the price, with no base price to apply a markup or append to. Selecting this option disables the calculation Type (Markup % or Append), since it has nothing left to act on. If the customer's currency differs from your organization's base currency, this value is treated as a base currency amount and converted to the customer's currency at the applicable exchange rate.

• Highest fixed price — Defined on the Suppliers tab. Uses the highest fixed price from suppliers with Include in pricing selected. If multiple prices exist, the highest among those suppliers is used.

• Highest latest price — Defined on the Suppliers tab. Uses the most-recent latest price from suppliers with Include in pricing selected.

Set a calculated or dynamic price with the following steps:

1. Check the Calculated box for that price tier.

2. Select the type of calculation, append or markup — this doesn’t matter if your base value is Price tier value.

3. Select which base value to use from the dropdown menu.

4. Enter a value.

You may wish to adjust calculated prices to set up a special price ending/charm pricing strategy – this is done using rounding tables.

Examples of calculated prices

Edit price tier names

Set different names for your price fields from the Cin7 Core settings module.

1. Navigate to Settings → General settings → Price Tier Names.

2. Enter the Price Tier names into the fields.

3. Click Save.
        

Rounding tables

Rounding tables are used to adjust calculated prices to implement special price endings or charm pricing strategies. Rounding tables are set up in general settings.

1. Navigate to Settings → General settings → Rounding table.

2. Click + to add a new rounding rule.
        

3. 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.

4. Enter a value in the Round to nearest column. This will be the rule that Cin7 Core 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.

5. 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.

6. 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.

7. Repeat Steps 3-6 to set up your other rounding rules, then click Save.

In this rounding table example:

• A calculated price of 2.34 will be rounded/adjusted to 2.

• A calculated price of 38.87 will be rounded/adjusted to 38.90 (39 - 0.1).

• A calculated price of 137.80 will be rounded to 139 (140 - 1).

Importing prices via CSV

It is possible to import and edit prices in bulk using CSV files for simple prices, markup prices, and custom prices. See Import and edit prices via CSV for more details.

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