Managing your price list

SECURITY  Security level with Admin permission to configure Finance, Accounting, & Invoicing. Refer to Admin security settings.

NAVIGATION   > Admin > Features & Settings > Finance, Accounting & Invoicing > Price List

Name	Description
Buttons
Save	Unit costs and prices can be entered directly into the editable table. Click Save to save all changes.
Cancel	To discard all changes made to the table, click Cancel.
New	On the Products, Services & Materials tab, click New and select a billing item type from the drop-down menu. Options are Product, Service, Service Bundle and Material Code. The New (Entity) window for the selected item type will open. On the Labor tab, click New. The Roles window will open. For detailed information on populating these entities, click the Help icon in the top right corner of the window.
Export	When you click the Export icon, the table for the current tab is exported. If Multi-currency functionality is enabled, the table exported is the table for the currently selected currency.
Show Inactive Items	By default, inactive billing items and roles are not displayed. To display them, check Show Inactive. The page will refresh, and inactive items are now displayed.
Currency Selector (both tabs)
Currency (only displayed if Multi-currency is enabled)	By default, the table displays unit prices in your internal currency only. If you click the Currency drop-down menu and select another active currency, the page will refresh. The table will now display a second Unit Price (but not Unit Cost) column in the selected currency. NOTE  Only one additional currency is displayed at a time.
Work Type Selector (Labor tab only)
Work Type	By default, no work type is selected. To see how your Hourly Billing Rates are impacted by a work type, click a drop-down menu and select a work type. The Rate after Work Type Modifier column will be populated. Click the Edit or New icon next to the field to edit work type modifiers for any active currency. Refer to Set work type modifiers.
Products, Services & Materials tab
Dynamic Filters	The top row contains fields that allow you to filter the Price List table by Item, Item Type, Period Type and Item Description. Item and Item Description filter all records that contain the string you enter. To remove the filter, click inside the filter field, and then click the .
Edit icon	Click the Edit icon in a row to open the Edit (Entity) window. The Edit icon is not available for two products, Equipment and None. These are system products that cannot be edited or deleted.
Item	This column displays the name of the billing item. Products of type "Per Contact Billing Rule only" will have (Per Contact) or (Per Device) appended to the name. The appendage will only be visible on the Price List.
Item Type	Shows the type of billing item. Options are Product, Service, Service Bundle and Material Code.
Period Type	Shows the billing item period type. This function is used for billing for services and product subscriptions. Products of type "Per Contact Billing Rule only" are limited to the "Monthly" billing type.
Item Description	An optional description of the billing item.
Active	Selected for active items, cleared for inactive items (if Show Inactive Items is clicked).
Unit Cost	The amount you pay a vendor for this item, or the cost of the service. This field is always displayed in your internal currency. Products with a price/cost method of "Volume" or "Tiered" display "varies" in the Unit Cost column. The "varies" text is a link that, when clicked, opens the "Modify Price/Cost Tiers" dialog. Refer to Setting up volume-based and tiered pricing.
Unit Price (Single-currency only)	The price you charge to your customers. This column is only displayed in single-currency mode, and is used as both the price and revenue number for the billing item. Products with a price/cost method of "Volume" or "Tiered" display "varies" in the Unit Price column. The "varies" text is a link that, when clicked, opens the "Modify Price/Cost Tiers" dialog. Refer to Setting up volume-based and tiered pricing.
Unit Price (internal currency) (Multi-currency only)	If Multi-currency is enabled, the Unit Price column is replaced by two columns, the Unit Price (internal currency and the Unit Price (customer currency). The three-letter currency symbol for your internal currency is displayed in round brackets.
Unit Price (customer currency) (Multi-currency only)	This column is only displayed if Multi-currency is enabled and a currency other than your internal currency is selected in the drop-down menu above the table. If you have established a fixed price for a billing item in the customer currency, it is displayed in this column. NOTE  If you use calculated prices in customer currencies, you do not need to populate the Unit Price (customer currency) column in the other currencies. Prices will be calculated from the exchange rate.
Labor tab
Dynamic Filters	The top row contains fields that allow you to filter the table by Role and Role Description. To remove the filter, click inside the filter field, and then click the X.
Edit icon	Click the Edit icon in any row to open the Edit Role window.
Role	The name of the labor role. Click the header row to sort by role.
Role Description	The role description.
Active	Selected for active items, cleared for inactive items (if Show Inactive Items is clicked).
Hourly Billing Rate (internal currency)	The billing rate for this role as set up in > Admin > Features & Settings > Finance, Accounting & Invoicing > Roles.
Hourly Billing Rate (when viewing alternate currency)	This column is blank and disabled when you are viewing hourly billing rates in your internal currency. When you select an alternate currency, the page refreshes and you can now enter or edit hourly billing rates in your alternate currency. Refer to Set prices for billing items in other currencies (when Multi-currency is enabled).
Rate after Work Type Modifier (internal currency)	If you select a work type, this column will display how each role is impacted by the work type. Click the Edit icon to edit the work type. Refer to Set work type modifiers.
Rate after Work Type Modifier (when viewing alternate currency)	Shows how the selected work type impacts hourly billing rates in the selected alternate currency. Click the Edit icon to edit the work type for the selected currency. Refer to Set work type modifiers.

When you do business in multiple currencies, you generally have two options for pricing:

• You set a price for each item in your internal currency and, on the Currencies page, enter the exchange rate from your internal currency to all other currencies. Prices in the other currencies are calculated by dividing the internal price by the exchange rate, and they fluctuate with the exchange rate.

NOTE  If you use calculated prices in customer currencies, you do not need to populate the Unit Price (customer currency) column in the other currencies. Prices will be calculated from the exchange rate.

• You establish fixed prices in other currencies. Prices in the other currencies are stable, and any exchange rate gains or losses are absorbed by your company.

Establishing fixed prices works the same for all items on the Products, Services & Materials tab, and for Hourly Billing Rates on the Labor tab:

1. When you open the Price List, your internal currency is displayed by default.
2. Select a customer currency from the Currency drop-down menu.

The page will refresh, and a second Unit Price column will be displayed. The column headers will show a currency symbol to distinguish the two columns. If no fixed price has been set for an item, the field will be blank, and the currency indicator will be grayed out.

NOTE  For products, you can use the data importer to import prices in all active currencies at once. Refer to Populating the Products import template.

3. To get a hint what the price in the second currency would be based on the exchange rate, click the currency symbol of the internal unit price. To accept the price, click the Copy to Unit Price (...) link.

You do not have to accept the calculated price; you can simply enter a price in the second currency.

4. To save all changes to the table, click Save.

NOTE  You can also use a mixed model: establish prices in other currencies for some items but not for others. If the price for the item has not been configured for the customer currency, the price will be calculated from the internal price using the currency exchange rate for the customer currency.

Billing for labor is almost never just applying a role rate to a time entry. To get an overview over the different factors that apply to billing for labor, refer to Factors that determine hourly rates.

All directly billable time entries are the product of a role rate and a work type modifier. You will (or already have) set up work type modifiers for labor in your internal currency. For detailed information, refer to Work types.

By default, these same modifiers will apply when you bill customers in different currencies, and work just fine for most customers. But here is another example:

EXAMPLE  For the same role, you are charging £80 in the UK and 100 € in France. You have set up an After Hours work type that modifies the hourly rate by a factor of 1.5, so if the same work is done after hours, you are charging £120 in the UK and 150 € in France.
But let's assume that because of French labor laws, you have to pay the technician 3 times the normal amount when the work is performed overnight (deepest apologies if I am maligning the French). If you can bill the customer only 1.5 times as much in France, you will be losing money.
This is where work type modifiers for a currency come in.

IMPORTANT  You are now factoring a factor, which makes troubleshooting and explaining a billed amount to a customer really complicated, so save this for when it is really needed!

To edit work type modifiers for your internal or an alternate currency, do the following:

1. Navigate to the Price List > Labor tab.
2. Select a currency from the currency drop-down menu.

If you do not see the currency, navigate to the Currencies page and activate the currency.

3. Select a Work Type from the drop-down menu.
4. Click the Edit icon to the right of the field, or, if the work type you need has not been created yet, click the + sign.

The New or Edit Work Type window will open.

5. Populate the required fields. Refer to Work types. If you are editing a work type, you will only see the Billing Rate Modifiers section of the Work Type page.

6. Select or enter a modifier that will apply only to the selected alternate currency.
7. Click Save.