You might want a pricebook for a product that you sell to multiple customers at different prices. Alternatively, you might want pricebooks that list the products and prices for a specific region.

In the following example the pricebook contains a single product, but the price is different for each customer:

Single Product Pricebook

Bike A Pricebook
Pricebook Lines	Product	Use Fixed Price	Price	Customer	Start Date	End Date
1	Bike A	Yes	100	Smith	1/1/16	12/31/16
2	Bike A	Yes	80	Jones	1/1/16	12/31/16

When you add a product to a price book you must include a price, but the customer is optional. In the following example the product list is the same in both pricebooks, but the prices are based on the region, not the customer.

Pricebook by Region (Western)

Western Region Pricebook
Pricebook Lines	Product	Use Fixed Price	Price	Customer	Start Date	End Date
1	Bike A	Yes	100		1/1/16	12/31/16
2	Bike B	Yes	80		1/1/16	12/31/16

 

Pricebook by Region (Eastern)

Eastern Region Pricebook
Pricebook Lines	Product	Use Fixed Price	Price	Customer	Start Date	End Date
1	Bike A	Yes	110		1/1/16	12/31/16
2	Bike B	Yes	90		1/1/16	12/31/16

You can create a pricebook from a product, or directly from the Pricebooks page.

1. From the Pricebook page, click New.
2. Enter the Company.
3. Enter a Pricebook Name.
4. The Currency defaults to a value, but you can change it to another currency. When you process a sales order line that requires a pricebook, Kenandy verifies that the currency on the sales order matches the currency on the required pricebook.
   If you are on the Pricebooks page, click Save to continue.
   
5. To add a product to the pricebook, click Add New.
6. Enter the Product.
7. Enter the pricing information: 
   • Select a Price Type: Sales or Recurring (rentals).
   • If you selected the recurring, choose a Pricing UOM.
   • If you are using fixed pricing, select the Fixed Pricing checkbox, and then enter the Price.
   • If you are offering tiered pricing, entering the Min and Max values, and then enter the Price for that tier. Add additional tiers as needed.
8. Enter a Start Date and an End Date.
9. Click Save Changes.

When you add a product to a sales order line, Kenandy takes the pricing information into consideration. If tiered pricing is being used, the correct price is applied based on the quantity ordered.

Use tier based pricing when you want to provide an incentive to buy more at a lower cost per unit. You can use tiered pricing provide discounts on orders over a specified amount.

Before using tiered pricing, make sure that bracket pricing (on the company page) and fixed pricing (on the Pricebook page) are not being used.

Tiered Pricing
Product	Use Fixed Pricing	Min	Max	Price	Start Date	End Date
Bike A	Yes			100	1/1/16	12/31/16
Bike B		1	99	200	1/1/16	12/31/16
Bike B		100	499	190	1/1/16	12/31/16
Bike B		500		180	1/1/16	12/31/16

Use a fixed price when you want to establish and maintain the price for a period of time. For example, Product AA has a regular price and a discounted price for the holiday period. The following example illustrates how to set that up in Kenandy. The first line covers the period before the holiday, the second line cover the holiday, and the third line covers the period after the holiday.

Fixed Pricing
Product	Use Fixed Pricing	Min	Max	Price	Start Date	End Date
Bike A	Yes			100	1/1/16	10/31/16
Bike A	Yes			110	11/1/16	12/24/16
Bike A	Yes			100	12/25/16	12/31/16

For rentals, we calculate the best possible price for your customers and prorate charges.

In most cases, customers receive favorable pricing when renting items for longer periods of time. Monthly and weekly per day rates tend to be less than daily or hourly rates. Here is an example of how you can automatically provide the best price to your customers:

Your customer rents an item for month, but returns the item after 11 days. The daily rate (11 days * 150) calculates to 1,650. The better prices is achieved by giving charging the customer for two weeks (2 weeks * 450), which comes to 450.

Term	In Days	Rates	Daily Rate
Daily	1	150	150
Weekly	7	450	64
Monthly	28	1500	53.50

The rate comes from prices you set. And you can adjust the price during invoicing.

After adding lines (products) to a pricebook, you can update the product pricing from the Modify Pricebook Lines page as long as the product has not been applied to a sales order line.

1. From the Company page, click Update Pricebook Lines.
2. Kenandy displays all pricebook lines. To filter the list, select a value from one or more of the filter menus.
3. In the Matching Pricebook Lines section of the page, enter the new Price, the Start Date and End Date, and then click Update Matching Pricebook Lines.

   Alternatively, click to activate a field on a line. For example, click the price, and then use the increase/decrease button or enter the new price directly into the field.

4. Click Save Changes.

To retire a line, change the end date. If you change the end date on a pricebook line, Kenandy does not create a new line. However, if you change the price on a line, Kenandy creates a new line:

• Original Line: Kenandy changes the end date to today's date (system date)
• New line: Kenandy creates a new line that reflects the change in price ($11) with a new start date (system date + 1)

Updating a Pricebook Line

Pricebook Line Data	Action	Result
Pricebook Line 1: Price = $10 Start Date = 10/01/2014 End Date = 12/31/2019	On 11/1/14 update the price to $20.00	Kenandy ends the existing pricebook line with the date of the transaction, then creates a new pricebook line to reflect the new price and start date. Price = $20 Start Date = 11/02/2014 End Date = 12/31/2019
Pricebook Line 1: Price = $10 Start Date = 10/01/2014 End Date = 12/31/2019	Change the end date to 3/15/2015	Kenandy updates Pricebook Line 1: Price = $10 Start Date = 10/01/2014 End Date = 3/15/2015

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

Pricebook Page

Pricebook	Description
Company	The company information is auto-filled for you based on your user login.
Company Identifier	For data loading purposes.
Created by	User who created the pricebook.
Currency	The currency for the pricebook.
Description	Further describes the pricebook.
Is Default	A check mark indicates that this is the default pricebook. If a product without a pricebook is added to a sales order, Kenandy uses the default pricebook for the company.
Pricebook Default Unique	Unique key to prevent duplicate records. This field is not editable.
Pricebook Name	A user-defined name for the pricebook. If you have multiple pricebooks, use names that clearly identify their content (such as Customer ZXT or Holiday Clearance).
Trade Promotion	A check mark indicates that the pricebook includes list prices for use in Trade Promotions.

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

Pricebook Line Page

Pricebook Line	Description
Customer	Each line in a pricebook can be associated with a different Sold-to customer. This means that you can create one pricebook for multiple customers.
Data Load	For data loading purposes. If selected, the pricebook will not be validated during the data loading process.
End Date	Each line (product) in the pricebook can be end dated. The end date is automatically set to a date (current day/month) 5 years in the future.
Price	The price of the product on this line. By default Kenandy rounds the price to 2 decimal places. You can override the default rounding by adding a "pricebooklinePrecision" name-value pair and setting that value to change the number of significant digits used in all your company's pricebooks. To override the number of significant digits used by price: 1. Go to Develop > Custom Settings > Configuration. 2. On the Custom Setting Definition Configuration page click Manage. 3. Add a new setting named "pricebooklinePrecision" and set the value to an integer representing the number of significant digits your pricebooks will support.
Price Price 2 Price 3 Price 4 Price 5	If fixed pricing is not selected, you can set up bracket pricing for each price band. To manage price brackets go to the Company page. Kenandy rounds the price to 2 decimal places.
Pricebook	Name of the pricebook.
Pricebook Identifier	For data loading purposes only.
Product	Displays the list of products.
Product Group	Displays the list of product groups.
Start Date	Each line (product) in the pricebook can be effective dated. This is the start date.
Suggested Retail Price	The suggested retail price for the product in this pricebook.
Suggested Wholesale Price	The suggested wholesale price for the product in this pricebook.
Use Fixed Pricing	A check mark indicates that the product line is set to a fixed price. If Use Fixed Pricing is selected, when you enter a sales order line the fixed price is displayed. If Use Fixed Pricing is not selected: you can set up bracket pricing by populating the Price 1 field, Price 2 field , and so on. Or you can set up tier pricing using the Min and Max fields