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Pricing Models

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Overview

You can set up multiple pricing models in your Flex system and use them on financial elements like Quotes and Invoices. Pricing models can be configured to calculate the correct rates for your business needs.

Adding a Pricing Model

  1. In the Main Menu, go to System Settings and select Pricing Models.
  2. Click the Add New Pricing Model button in the bottom left.
  3. Enter the new pricing model information.
    • Name: The name of the pricing model.
    • Code: Optional
    • Unit of Measure: The unit of measure that will be used for the pricing model to calculate line item pricing. For example, "Day" would be used when the pricing model is based on a day calculation.
    • Count Unit: The count unit that will be used for the pricing model, if applicable.
    • Start Date: The date this pricing model will be available for use.
    • End Date: The date this pricing model will no longer be available for use.
    • Disabled by Default: When set to "Yes", this pricing model will not be enabled by default for the selected resource types. Instead, you will have to manually enable this pricing model on the "Pricing" tab of the selected resources. NOTE: Changing this setting to NO does not affect existing resources. NOTE NOTE: The resource type that determines if inventory models are affected is based on the "Default Stock Type" that is selected in Inventory Settings.
    • Resource Types: The resource types that this pricing model will be applicable towards and allowed to use on lines in financial documents. 
  4. Click OK.

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The new pricing model will automatically open in a new tab. With the pricing model page open, you can now configure the Price and Cost Settings.

  • Price/Cost Calculation: The type of calculation that will be used for this pricing model.
    • As Entered: The calculation will be based on the entered pricing that is present in the "Pricing" tab of the selected resource types.
    • As Multiple of Another Pricing Model: The calculation will be based on another pricing model.
      • When this is selected, two new required fields will appear. Price Multiplier and Price Base Pricing Model.
    • Tiered: The calculation will be based on tiers that are set up for this pricing model. Please see Creating Tiers for a Tiered Pricing Model section for more information.
      • When this is selected, two new fields will appear. Manual Pricing Tiers Enabled and Time Slicing. Time Slicing can only be edited when "Calculate Time" is set to yes.
  • Price Override Enabled: When set to "Yes", a line item's price can be overridden.
  • Line Price Ignores Time Quantity: When set to “Yes,” the time quantity of a line will not factor into the total (extended) price of the line item.
  • Calculate Time: This is used to calculate the time quantity when a "time" Unit of Measure is selected; based on the start and end date. This field is applicable to price and cost.

Editing a Pricing Model

  1. In the Main Menu, go to System Settings and select Pricing Models.
  2. Select the Options Menu of the pricing model and click Edit.
    • This will allow you to quickly adjust the "General Settings" of the pricing model
  3. OR select the Options Menu of the pricing model and click Open.
  4. Edit the pricing model information.
  5. Click OK.

Creating Tiers for a Tiered Pricing Model

  1. In the Main Menu, go to System Settings and select Pricing Models.
  2. Select the Options Menu of the pricing model and click Edit Tiers OR open up the tiered pricing model page and select the Edit Tiers button in the General Settings.
  3. In the Tier Configuration popup, select the Add New button to add a tier.
  4. Enter the new price/cost tier information.
    • General Settings
      • Name: The name of the tier.
      • Base Pricing Model: The pricing model that the tier will be based on for calculation.
    • Matching Criteria: Line items must match ALL matching criteria for the tier to apply. Based on settings selected here, the tier can be used in addition to other tiers on a single line item or the calculation can select a single tier for a line item
      • Date Types: The applicable date types that the tier will apply to. When none are checked, all types will apply.
      • Count Unit (matching criteria): This field is used for reference to note the Count Unit
      • Start Effective Time: Line items occurring during or after this time will use this tier for calculation
      • End Effective Time: Line items occurring up to this time will use this tier for calculation
        • Note: Including BOTH a Start and End Effective time will use this tier ONLY for line items occurring on or after the start time AND up to the end time
          • A line item that begins before the Start Effective Time and/or ends after the End Effective Time will not use this tier unless the pricing model's Time Slicing setting is set to Yes
      • Start Effective Quantity: Line items with quantities greater than or equal to this amount will use this tier. 
      • End Effective Quantity: Line items with quantities less than this amount will use this tier.
        • Note: Including BOTH a Start and End Effective Quantity will use this tier ONLY for line items that are equal to or greater than the Start Effective Quantity AND less than the End Effective Quantity
      • Time Unit (matching criteria): This field is used for reference to note the Time Unit
      • Start Effective Time Quantity: Line items with time quantities greater than this amount will use this tier.
      • End Effective Time Quantity: Line items with time quantities less than or equal to this amount will use this tier.
        • Note: Including BOTH a Start and End Effective Time Quantity will use this tier ONLY for line items that are greater than the Start Effective Time Quantity AND less than or equal to the End Effective Time Quantity
    • Formula Criteria:
      • Multiplier: Determines the value a tier’s price/cost will be multiplied by.
      • Count Unit (formula criteria): This field is used for reference to note the Count Unit
      • Bypass Count Multiplier: When set to "Yes," the line item's Quantity will not be factored into the tier's price and cost calculations
      • Quantity Offset: The Quantity Offset is added to the Quantity in the tier's calculation. Entering a negative value here will subtract from the quantity in the calculation
      • Min Quantity: The minimum quantity that will be used when this tier is in use
      • Max Quantity: The maximum quantity that will be used when this tier is in use
      • Time Unit (formula criteria): This field is used for reference to note the Time Unit
      • Bypass Time Multiplier: When set to "Yes," the line item's Time Quantity will not be factored into the tier's price and cost calculations
        • Using a Pricing Model whose Unit of Measure = Each will not factor Time Quantity into the pricing model's tier calculations
      • Time Quantity Offset: The Time Quantity Offset is added to the Time Quantity in the tier's calculation. Entering a negative value here will subtract the quantity in the calculation
      • Min Time Quantity: The minimum time quantity that will be used when this tier is in use
      • Max Time Quantity: The maximum time quantity that will be used when this tier is in use
  5. Click OK.

 

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