Pricing products and services

When setting up pricing, the first step is to define the types of prices you want to use for your products and services. The default types of Sales Price, Trade, and Wholesale are provided but you can change them as needed.

Setting up prices

1. Go to Settings, Business settings.
2. Under Business Preferences, click Record and transaction settings.
3. Under Products & Services, edit the price name as needed.
4. Optionally, add more prices.

Note: If a price is not being used, unmark In Use to deactivate it. You can also delete any prices that are not in use.

5. Click Save.

Pricing products or services

You can enter pricing when you create a product or service, the price names you defined display in the I Sell This Item section of the Create an Item window. Enter the amount for each price applicable to the item.

You can also select a default price for each customer in the Price Default field on the Defaults tab when you create a new customer. When you create a sales invoice for the customer, each line item will automatically be set to that price. For example, you may set the Wholesale price as the default for a customer to whom you always sell products at Wholesale price.

When you are creating an invoice, you can set up a default price for each customer. For example, James Green is a senior citizen and as such, always receives a 10% discount. Open the customer record and under Defaults, select the pricing level. The price you select automatically appears on invoices for this customer.

When you create an invoice, the pricing level set up for the selected customer automatically appears on the invoice. You can enter a different price, if needed. Learn more about creating sales invoices.