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. 


Setting prices at the product level is optional, since they can also be set and modified at the purchase or sales level. In addition, Price Tier amounts can be set manually or automatically calculated using defined markup rules for each Price Tier. 


Prerequisites:


  1. To Add Price Tier Values
  2. To Edit Price Tier Values
  3. To Edit Price Tier Names
  4. To Set Up a Rounding Table


To Add Price Tier Values

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There are two ways to add Price Tier values to a product: when adding the product to your inventory, or by editing the product after it has been created.

  1. Navigate to Inventory -> Products.
  2. Add the product following the detailed procedure in Create a New Product or Service.
  3. Once you've added the product, click the Prices tab. To manually set the price tier, go to Step 4. To let DEAR automatically calculate the price tier, skip to Step 5.
  4. Position your cursor over the Price field, click, then enter the price on the field. Repeat this step for the other price tiers, then skip to Step 9.
  5. Check the Calculated box.
  6. Select either Markup% or Append under the Type column. Markup means the price will be marked up using the percentage amount specified under the Markup field. Append means that the price will be calculated as the sum of the base price plus the specified value in the Markup field.
  7. Under the Use field, Average cost price is selected by default. You can also select from the other options, depending on your requirements:
    • Fixed price - if there are two or more fixed price values for a product, the fixed price with the latest Last Supplied Date is used in calculating the markup price.
    • Latest price - if there are two or more price values for a product, the price with the latest Last Supplied Date is used in calculating the markup price. If the values are in different currencies, they are converted into the base DEAR currency first before calculating for the markup price.
    • Price Tier Value - this shows the current price tier name and base DEAR currency. If this is selected, user should enter required amount in the Value column and this amount will be copied into the Price field.
  8. Enter a number under the Value field. Depending on the type selected in Step 6, this value will  either serve as a percentage amount that will used to calculate for the markup price or as an amount to be added to the base price.
  9. Click Save. 


To Edit Price Tier Values

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  1. Navigate to Inventory -> Products.
  2. Select the product to be edited.
  3. Click the Prices tab, then enter your changes.
  4. Click Save


To Edit Price Tier Names

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  1. Navigate to Settings -> General Settings.
  2. Scroll to Sale Price Tier Names.
  3. Enter the Price Tier names into the fields.
  4. Click Save.


To Set Up a Rounding Table

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Calculated prices are rounded up or down based on the rounding table that you set up in General Settings.

To set up a rounding table:

  1. Navigate to Settings -> General Settings.
  2. Scroll to Rounding Table.
  3. Click +.
  4. 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.
  5. 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 0.03 and the Calculated price is 8.54, the price will be set to 8.55 after applying the rounding rule.
  6. 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.
  7. If adjustment rule is set to Add or Subtract in Step 6, 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.
  8. Repeat Steps 5-7 to set up your other rounding rules, then click Save.