Overview
A price point is a price that is set against a product. Price points are collected and stored in a price book. When initially setting up your library of products, we recommend setting the base prices in the default price book first. When the default price book is complete, build any custom price books that are required and link them to their respective objects (account, account group, or account profile).
A price point needs to be active to be used by the system. This isn't a status like 'PreActive' or 'Active'. Whether or not a price (or price book) is active and can be used in a purchase is determined by having a price book/price point with a saleable date range that is current.
Viewing Price Points
To access the price points in a price book, log in to Cumulus and go to Products > Product Pricing. Click the price book ID, which will open the price book with the Price Points tab in focus.
Negative Price Points
Negative quantities of a product typically occur in the context of a reversal or an adjustment of a prior billing record. The system uses the absolute value of the quantity to find the applicable rate, so that the same price is applied to a negative quantity as an equivalent positive quantity. For example, if the price of a product is set with a minimum quantity of 15, the rate is applicable for a quantity of 15 or -15.
Create a Price Point
- Log in to Cumulus and go to Products > Product Pricing. Click the price book ID, which will open the price book with the Price Points tab in focus.
- Click Add New Product Price.
- From the list of Product Categories select the category of the product you want to add a price for.
- From the list of Products select the product you want to add a price for.
- Enter the SELL price of the product.
- If known, enter the BUY price of the product. This can be used for margin analysis.
- Enter a Saleable From date. This is the date the price will apply from.
- Enter an optional Saleable To date if you want the invalidate the price of the product on a given date in the future. This is often used to offer a product at a discounted cost for a promo or sale. After the Saleable To date has passed, the price will no longer apply.
- Set the Minimum Quantity that can be purchased in an order.
- Optionally, set the Maximum Quantity that can be purchased in an order.
- The Notify Upon Paid Purchase flag, if checked, will send an email notification to a nominated recipient when this item is sold under an instalment plan and the final instalment has been paid. This function relies on the Notify Upon Paid Purchase event to be enabled. If a template is set up, but the event is not enabled, no notification will be sent.
- Press Save.
The system will allow users to set the Saleable To date of a price that occurs later than the Saleable To date of the price book. Despite this, the Saleable to date of the price book will always take precedence, and in in the case of this occurring, the Saleable To date of the price point is invalid and will be ignored.
Edit a Price Point
Price points can be edited at any time. This can be done using one of two available pathways:
From the Product: Navigate to Products > Product Management > Product Details > Price Points tab.
From the Price Book: Navigate to Products > Product Pricing > Price Book Details > Price Points tab.
- Click on the price point you want to change.
- Click the Edit button.
- Update the fields as required.
- Press Save when you are done.
Price points cannot be deleted, due to the need to retain a history of prices and purchases. However, users can make a price point inactive or invalid, which will achieve the same outcome as deleting it. To invalidate a price so that it is no longer used by the system, set the Saleable To date of the price point to a date in the past. Users may have to do this for multiple price points for a given product. If this needs to be done, it is more efficient to view all price points for a given product, rather than have to inspect all price books.