A standard retail Item might cost $10 for a walk-in consumer, $8 for a wholesale distributor, and $9 during a seasonal sale. Trying to remember and manually type these different prices on every Sales Order is a recipe for errors and revenue leakage.
The Price List module automates your complex pricing strategies, ensuring the right customer always gets the right price — automatically, every time.
Understanding Price Lists
A Price List is a set of rules that overrides an item’s standard “Selling Price.” There are two primary approaches:
- Percentage Markup/Markdown (Dynamic): Calculates the price in real-time based on factors like cost or retail price (e.g., “Always charge 20% below standard Retail” or “Mark up the base Cost by 50%”).
- Custom Item Rates (Static): A fixed currency amount for specific items (e.g., “The Premium Widget is always exactly $45.00 on this list, regardless of its base cost”).
Creating a Price List
Initialize the List
Navigate to Inventory > Price Lists and click New Price List.
Basic Configuration
- Name: Give it a clear name (e.g., “Tier 1 Wholesalers - 2024”).
- Type: Select “Sales” (for selling to customers) or “Purchase” (for preferred vendor rates).
- Pricing Model: Choose between Dynamic Markup/Markdown or Static Item Rates.
Configure Rules (Dynamic)
If you chose percentage-based pricing:
- Select the Base Strategy (e.g., calculate based on Item’s Cost, Item’s Selling Price, or another Price List).
- Set the Percentage (e.g., -15%).
- Choose your rounding rules (e.g., “Round up to the nearest $0.99” so $14.12 becomes $14.99).
The Cascading Effect: You can base “Tier 2 Wholesalers” off the “Tier 1 Wholesalers” price list. When your base costs change, the updates ripple through every dependent list automatically. Set it once, and it stays current forever.
Configure Rules (Static)
If you chose Custom Item Rates:
- Search for the items you need to price.
- Input the exact flat currency rate for each selected item.
Save
Click Save. The Price List is now active and ready to use.
Assigning Price Lists
A Price List only works when it’s applied to a transaction. Here’s how:
Assigning to a Customer Profile
The most common approach — assign the list directly to a customer.
- Navigate to Contacts > Customers.
- Edit the specific company (e.g., “Acme Wholesale Corp”).
- Under the Sales Details tab, set their default Price List to “Tier 1 Wholesalers.”
- Now, every time your team drafts an Invoice for Acme Corp, the system automatically pulls the $8 wholesale price instead of the $10 retail price. No manual overrides needed.
Assigning to the Online Store
You can assign specific Price Lists as the default “Anonymous User” tier for your Online Store, or apply temporary promotional lists globally during a sale event.