How to create a pricing formula

If you offer different prices for your various customers segments, you can easily create pricing formulas for each of the price levels.  Pricing formulas can simplify managing pricing levels by setting a fixed markup for all products (saving the need to manually enter a price for each product) and support sophisticated rules (such as using different markups for various combinations of product characteristics and quantity ordered).  Create pricing formulas leveraging the steps below:

Creating The Pricing Formula

1) Go to Application Setting > Products and scroll about halfway down to “Selling prices” Section.  Create the name of the first price tier.  In this example, we will create a price tier for “VIP Customer” (highlighted in red).

2.  Click on the blue “add formula” link.
3.  The price formula can be complex and sophisticated, but for this example, we want to give our VIP customers a price discount of 20% on everything we well.  As a result, the formula would be (Base Price * .80).  You first select the variable(s) (e.g. Base Price) into the formula and then complete the formula.

The handy preview windows allows you to quickly check prices of some your products to ensure the formula is correct. For the example, the item price of the red polo shirt is $20, and as a result, the VIP price is $16 or (.80 * $20).

Finale is capable of creating very sophisticated and powerful pricing formulas.  Creating different pricing discounts based on order volume (e.g. ordering more than a case) is a snap with the pricing formulas.  More information on the pricing formulas can be found here.  Syntax on the formulas can be found here.

Please contact us at service@finaleinventory.com if you need any assistance with the pricing formulas.  We’re happy to help.

4.  Complete Steps 1-3 to create additional price levels

Watch this tutorial video for an illustration