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.

Prerequisites

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.

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

We recommend using calculated pricing to convert specific prices to different currencies using the most current rate. See Multicurrency for more information.

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 final price is calculated as a percentage of the base value. The percentage to mark up is entered into the Value field. A value of 30 gives a 30% markup.
Append – the append value is simply added to the base value. Append values always refers to your base currency. A value of 30 adds 30 units of your base currency to the price.

All calculated prices are shown in your base currency. Markup percentages or append values are added after the currency conversion. When selling in a different currency, the selling price will be recalculated according to the most current conversion rate from https://openexchangerates.org/. See Multicurrency for more information.

The type of calculated price is applied to your base value. The following base values are available:

Average cost – this is the default base value. See Average cost for more information on how this value is calculated. The current average cost for the product is displayed above the pricing table for easy reference.
- In the image below, the retail price tier is set to Type: Append, Use: Average cost, Value: 40. 146.06 (Average Cost) + 40 (Append value) = 186.06 AUD. This price will be converted to the buyer currency upon a sale.
- In the image below, Wholesale price tier is set to Type: Markup %, Use: Average Cost, Value: 20. 146.06 (Average Cost) + 29.21(Markup 20%) = 175.27 AUD. This price value will be converted to the buyer currency upon a sale.
Fixed supplier price – fixed supplier prices are set on the Suppliers tab for the product. If there are two or more fixed supplier prices for a product, the fixed price with the latest date supplied is used for the calculated price. If the fixed supplier price is in a different currency, it is converted into the base currency first before the markup price is calculated.
- In the image below, the special price price tier is set to Type: Markup %, Use: Fixed price, Value: 10. The last supplied fixed price is 150. 150 (Fixed Supplier Price) + 15 (Markup 10%) = 165 AUD. This price value will be converted to the buyer currency upon a sale.
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 base Cin7 Core currency first before the markup price is calculated.
- This is calculated in the same was as fixed supplier price.
Price tier value– the number in the value field is used as the price. When a customer buying this product has a different base currency, the price tier value is dynamically converted into the customer's base currency with the current conversion rate.
- In the image below, the euro price tier is set to Use: Price tier value, Value: 180. The price is 180 AUD. This price value will be converted to the buyer currency upon a sale. The other fields are grayed out, as they are not in use.

Set a calculated or dynamic price with the following steps:

Check the Calculated box for that price tier.
Select the type of calculation, append or markup.
Select which base value to use from the dropdown menu.
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.

Edit price tier names

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

Navigate to Settings → General Settings → Price Tier Names.
Enter the Price Tier names into the fields.
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.

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 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.
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 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.