knowledge base

inFlow gives you two methods for setting up the prices that you charge to your customers. You can either set the prices directly under the Sales Info section of the Product information, or you can set them by using the Product Pricing tool in the Inventory module.

Select Product Pricing from the Inventory menu through the inFlow Menu button.

The Product Pricing tool is particularly good for setting prices for many products at once. You can also have it help you calculate prices. You can choose which products to adjust prices for by clicking the Add Products button and selecting a number of products, or by adding them one by one into the table directly.

Pricing/Currency - Select the pricing scheme for which you want make price changes under Pricing/Currency. You can also use this tool to help calculate prices following a variety of methods. You can adjust the formula and then click the Update button to set the prices into the table. This will let you review or modify these prices by changing the values in the New Price column. Clicking the Adjust button at the bottom will update all the product prices and close the Product Pricing Window.  You can also choose to add a new scheme if the ones available are not set to the currency you require as pricing schemes are tied to currency.

Base Price - This is the figure that you’re setting prices relative to. Options include:

• Exactly - set the new price directly to some new value
• Current - set the new price relative to the current price
• Cost - set the new price relative to the product cost, using the costing method set for each product
• Moving Average Cost - set the new price relative to the Moving Average Cost of the product
• Manual Cost - set the new price relative to the Standard Cost set for that product
• Last Purchase Cost - set the new price relative to the Last Purchase Cost for that product

Adjustment Type - This is the way that prices are being adjusted from the Base Price. This won’t show up if the Base Price is set to Exactly. Options include:

• Plus - to add a percentage or fixed amount
• Minus - to subtract a percentage or fixed amount
• Multiplied By - to multiply by some number
• Divided By - to divide by some number

The Amount field is the number to adjust by or to. This should be a currency figure when the Base Price is set to Exactly. It can be either a percentage or a currency figure when the Adjustment Type is set to Plus or Minus, or just a number when the Adjustment Type is set to Multiplied By or Divided By.

Example 1: Setting all prices for a product category to $29.99

First, select the products within the category using the Add Products button and the pricing scheme to update. Then under Base Price, select Exactly, and set the Amount to $29.99. Click the Update button to have this show up in the New Prices column.

Example 2: Setting prices to a 25% markup over your cost

Set the Base Price to Cost, the Adjustment Type to Plus, and the Amount to 25%. After clicking the Update button, if you want to round or adjust the prices, you can then make changes in the New Price column.

Example 3: Raising prices by $2.00

Set the Base Price to Current, the Adjustment Type to Plus, and the Amount to $2.00.

Example 4: Changing prices to include taxes

This might be helpful when you want to set the price including sales tax to be a nice round number, like $20.00. This is a common practise in the United Kingdom, for example, where the sales tax rate / VAT is 17.5%. In this case, first set the prices to the target final prices, e.g. $20.00. Then, use the Adjust Price tool to set the Base Price to Current, the Adjustment Type to be Divided By, and the Amount to 1.175. Note that because of rounding issues, the actual price after tax can sometimes end up slightly different than intended.

Still unsure? Check out our tutorial video!