How do I enter my product’s cost/price/markup?
inFlow Cloud’s cost, price, and markup fields are in the same section in the product record. Let’s start by adding your cost.
To enter your product details in bulk, use a Product Details import. Click here for steps!
Entering product costs
Costs in inFlow reflect what you’ve paid for an item (including shipping fees and any other tariffs etc). These will be updated based on your purchase orders and used to calculate profit.
To enter the cost of your item:
- Click into the Cost field in the Cost and Price section of your product record (or Pricing & Cost if you are using Web).
- Enter the cost.
- Click Save in the top toolbar.
If the field is greyed out (doesn’t allow you to enter any cost), then you may be using a costing method that doesn’t allow for manual adjustments. You can see more about changing your costs here.
Entering product prices and markup
The markup and sales prices affect each other automatically. You can enter your price in the first box and the markup will be recalculated based on the cost. Similarly, if you know the markup of your products you can enter it into the markup box and your sales price will be calculated based on the cost.
You’ll notice that after entering the cost and price, markup will automatically be calculated like so:
With fixed price, your price remains unchanged regardless of cost fluctuations. The markup percentage will fluctuate as your cost changes, but the price will remain the same unless you manually update it.
You can see more about doing pricing adjustments in bulk here.
NOTE: To adjust the markup on Web, you need to toggle the Advanced option first.
If you’d rather not use the fixed price method, you can also choose to lock-down your markup, so that as your costs go up and down your prices will follow suit! This is especially useful for non-profit organizations if you’re always needing to set the markup to 0, for example, and even though your costs may change, your price will remain the same as the cost due to the fixed markup.
To set fixed markup, click on either the Markup percentage or the triangle between price and markup.
Choose Switch to fixed Markup if you want the markup to be locked in and have the price change relative to the cost.
For example, if the markup is fixed at 50%, then while the cost is $4, the price will be $6.
If the cost fluctuates to $4.25, then the price would get adjusted accordingly to $6.38.