Price Lists management with Zoho Inventory

Price Lists management with Zoho Inventory

A Price List is a convenient way of customizing item rates in Zoho Inventory. It can be used to mass control/modify your item prices for a specific customer/vendor or transaction.

A price list can be used to:
  1. Offer products regularly at a lesser price for a loyal customer.
  2. Offer products at a higher price for new or one time customers.
  3. Offer products at a different price to businesses in a particular country.
  4. Assign to vendors who provide regular or occasional offer on items.

Enable Price List

To enable price lists:
  1. Go to Settings > Preferences > Items.
  2. Under the Price Lists section, select Enable Price Lists option.
  3. Click Save.
Price lists enable

The Price Lists module will unravel under the Items module in the sidebar

Price lists module under Items

Create Price List

To create a new price list:
  1. Expand the Items module in the sidebar and go to Price Lists.
  2. Click the + New Price List button in the top-right corner of the page.
  3. Provide a Name for your price list.
  4. Choose the Type of your price list. If you choose Sales, your price list will be available for sales transactions, and if you choose Purchases your price list will be available for purchase transactions.
  5. Choose how you want to control the Item rate. You can do so in two ways:
  1. by percentage
  2. by entering the rate individually for each item.
Depending on the choice, the price list creation process will differ significantly

Image of the new price list page

Choice 1 - Markup/Markdown by Percentage:

  1. On choosing by percentage, proceed to the Percentage field.
  2. Choose whether you wish to markup or markdown and enter the percentage of the cost that you want to mark up or markdown.
  3. Configure how your prices must be rounded off to, by entering the round off value.
  4. Add a Description for your price list.
  5. To finish, click on the Save button.

Choice - 2 Entering Item Rates Individually:

  1. On choosing to enter the rate individually for each item, proceed to the Currency field.
  2. Choose a currency for the price list.
  3. Add new rates/prices for your preferred items one by one.
  4. Next, add a Description for your price list.
  5. Once you are ready, click on the Save button.Volume Pricing
image of the new price list page - entering item rates individually

Volume Pricing

Volume Pricing allows you to define a unit price for an item based on the quantity sold or purchased. That is, you can set price breaks for items depending on their quantity. For example, if a customer purchases only 10 units of product A, each unit will cost $15; but if they purchase over 11 units, then the cost of each unit will drop to $13, and so on. This method helps you sell slow-moving or excess stock quickly.

To set the volume price for an item:
  1. Go to Items in the sidebar, then Price Lists.
  2. Click the + New Price List button on the top-right corner.
  3. Enter an appropriate name for the price list.
  4. Choose the Enter the rate individually for each item option.
  5. Under Pricing Scheme, choose Volume Pricing.
  6. Enter the Start Quantity, End Quantity, and Custom Rate across the required item. You can also search for an item from the list by clicking the Magnifier icon next to Item Details.
  7. Click + Add New Range to add another range. You can only add up to 10 price range per item.
  8. Click Save.
Volume Pricing

Bulk Update

Alternatively, you can also enter the price range for several items simultaneously using the bulk update option. To do so:
  1. Click the Update Ranges in Bulk option on the top right side of the items table.
  2. Mark the checkbox near the items to select them.
  3. Click the Update Ranges in Bulk button at the top of the item table.
  4. Enter the Start Quantity, End Quantity, and the markup or markdown percentage.
  5. Click + Add New Range to add another range. You can only add up to 10 price ranges.
  6. Click Update, then click Save.
When this price list is applied to a transaction, the item’s rate will be adjusted based on the quantity. If the quantity does not fall under any of the price range, the default price will be applied.

Apply Price List

You can associate a price list to:
  1. a customer or vendor.
  2. a particular transaction - sales order, invoice, purchase order and even a bill.
  3. items in a transaction.
To associate a price list to a customer or vendor:
  1. Go to the Customers/Vendors module in the sidebar.
  2. Create a new contact or edit an existing contact.
  3. Go to the Other Details tab.
  4. Choose a price list to apply to the customer or vendor.
  5. Click Save.
Associate price list to a customer

To apply price list on a transaction:

  1. Create or edit a transaction (SO, PO, Invoice, Bill).
  2. Click the Price List dropdown located above the Item Details section.
  3. Choose a price list to apply to this transaction.
  4. Select a price list to apply it to the entire transaction or to each item in a transaction.
  5. Click Save
Note: Default rates will be applied for the items that are not present in the price list.

Associate price list to a transaction

Edit Price List

To edit a price list:
  1. Expand the Items module in the sidebar and go to Price Lists.
  2. Hover your cursor over the preferred price list.
  3. Click the Edit option.
  4. Update the necessary information and click the Save button to finish.
image of price list edit icon

Delete Price List

To delete a price list:
  1. Expand the Items module in the sidebar and go to Price Lists.
  2. Hover your cursor over the price list that you wish to delete.
  3. Click the Trash bin icon. This will be followed by a confirmation pop-up.
  4. Click Ok to delete the price list.
Please note that this process is irreversible.
Image of deleteing a pricelist

De-activate Price List

You can make your existing price list active or inactive.

To de-activate a price list:
  1. Expand the Items module in the sidebar and go to Price Lists.
  2. Hover your cursor over an active price list that needs to be de-activated.
  3. Click on the Mark as Inactive option on the right of your price list.
  4. Now this price list becomes inactive.
image of deactivating an active price list
To re-activate an inactive price list:
  1. Navigate to the Price Lists module under Settings.
  2. Hover your cursor over the inactive price list.
  3. Click on the Mark as Active option to the right of the price list.
  4. Doing this, will reactivate this price list.

Configure Access Permissions

  1. Go to Settings > Users & Roles > Roles.
  2. Edit an existing role or create a new role.
  3. Go to Items.
  4. Next to the Price List label, select the permissions you’d like to provide the users associated with this role.
  5. Click Save at the bottom.
Zoho Inventory web page

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