Uses for the Pricing Calculator
Many times you have a base cost or base price for an item, or even multiple base costs, and you need to mark up that price by a given percent. Sometimes you have different customer types (wholesale and retail) each needing their own pricing. With all of these complexities, having a grid of prices can get overwhelmingly large and hard to maintain. Enter the price calculator which can take a price or cost as an input and produce thousands of specific prices from it. It can produce quantity pricing grids, customer type pricing and discounts, markups and add profit margin to a base. This system is highly powerful and flexible allowing even for variant level price calculations, multiple price calculations on a single product and much more.
The screenshot below was built off of 1 base cost passed in of $2, and the price calculator took it from there.
How to setup a pricing calculator
First you must create a price calculation with rules to tell it how to work. Go to Catalog > Price Calculator.
To add a new price rule, click New, give it a name for identification, you will later be applying this rule to products. You can have multiple price calculators, this can help you to have different markups for different types of products, electronics vs. candles, etc.
- Click New Rule to set up your first rule.
- Here you can narrow the filtering down to a certain store, customer type or even a specific quantity, additionally you can choose to mark up your BaseCost or BasePrice.
- Click New Price Modifier to set up a calculation
- Here you add to the price, allowing PercentMarkup, Dollars and PercentMargin. This allows you to add flat prices, margins and markups to the base cost or price passed in from the product this rule is attached to.
- Click save and you can now use this named price calculator
The rule above is marking a price up by $1, it applies to the NuevoJuevo store and Retail customer type, and is for the quantity 2 to infinity.
Assigning a Price Calculator to a Product
- Currently, you can only assign a price calculator to an Advanced Pricing record on a product.
- Do this by visiting the product editor, clicking on the pricing menu.
- Under Advanced Pricing Matrix, click the "New Price" button
- Then select the name of your Pricing Calculator from The Price Calculator dropdown.
- Enter starting quantity 1, price and cost and most importantly, select your named price calculator in the drop down.
- You can add quantity pricing here if you like, but a really great feature of the calculator is it can be the quantity pricing for you. If you add a 6 price and a 12 price to the calculator, you dont have to enter them on each product, it will build that matrix automatically, saving thousands of pricing record maintenance/entry.
Importing and Exporting
- For product assignments, you can import and export this on the Pricing Import/Export or the Product Import/Export under Tools.
- Calculators and details can only be entered through the admin