Price
The Price object in Cloudy Business Ops 360 is used to manage standard pricing for items and item variants. Unlike Volume Price (which supports tiered pricing), the Price object focuses on single, flat pricing records for each product, with the ability to define discounts, purchase prices, and tax details.
This object ensures that all items are priced consistently across the business and tied to specific price lists (such as Retail, Wholesale, or Region-specific lists).
Use of Price in Cloudy Business Ops 360
The Price object enables businesses to:
- Define Standard Item Prices: Maintain consistent sell prices across transactions.
- Manage Purchase Prices: Track vendor costs to measure profitability.
- Apply Discounts: Allow predefined percentage discounts for specific price lists or items.
- Control Tax Inclusion: Specify whether sell or purchase prices already include applicable taxes.
- Integrate with Price Lists: Map each price record to a price list for regional or customer-segment pricing.
Checkbox Functionality
| Checkbox Field | Purpose |
| Active? | Indicates whether this price record is currently active and should be used in transactions. Inactive price records are ignored by the system. |
| Tax Included in Price? | Specifies whether the Sell Price already includes tax. When checked, the system will not add additional tax during calculation. |
| Vendor Tax Included in Price? | Specifies whether the Purchase Price already includes vendor tax. This prevents duplicate tax calculation and ensures accurate margin reporting. |
Example Business Scenario
Scenario:
You maintain a Retail Price List with the following details for Item A:
- Sell Price: $100
- Tax Included in Price? ✅
- Purchase Price: $80
- Vendor Tax Included in Price? ❌
Outcome:
- When a sales order is created, the system uses $100 as the final price and does not add additional tax (because it is already included).
The margin calculation will consider $80 as the cost price, but add applicable vendor tax to correctly calculate the cost of goods sold.