Create Product - Simple

Products are to be added to your customers orders. To be able to add a product to a order the product itself needs to be created under the Product section. Below is a guide how to create a product type Simple. 

  1. Go to the heading Products
  2. Press the button: Create Product 
  • Name: The product's name
  • Product Type: How the setup of the product will be, in this case, we will pick "Simple"
  • Product Category: In case you have product categories, this is where you choose which category the product falls into (reporting purposes)

    Press Create

Charge details

Charge Details (Press Edit Charge Details)

  • Name: Name of the charge for the product (will be the standard name on the invoice line when invoicing the order containing the product)
  • Charge type:
    • Usage - Based on the client's usage of your service, billed in arrears
    • One-Off - A charge billed only once
    • Recurring - A recurring service the client will be billed for every billing period
    • Measured - Similar to usage, but is billed in advance according to latest imported quantity
  • Model:
    • Flat - A fixed price for the charge with no variables affecting it
    • Quantity - A fixed price but per unit, in which quantity affects the total price for the charge
    • Tiered - Different pricing tiers in which the quantity is charged for the amount per each tier (minus the amount for the previous tier) - for example, if the quantity hits tier 3, the first units before the 3rd tier will be charged according to those tiers
    • Volume - When all quantity should be charged within the same tier - the quantity hits the one tier that the quantity is within, and all the units are charged with the same price that lies within that tier
  • UOM: If Charge Type is Usage and/or model is Quantity, Unit of Measure is what the usage is a measure of, for example, users
  • Price Period: What time period the price is based on
  • Custom Fields: Set up these with your personalized preferences

Press Save


Charge Pricing

Charge Pricing (Press Edit Pricing)

  • Your base currency is added by default under pricing details. If you want to set pricing only for your base currency, simply enter the price in the field
  • To support more currencies and set specific pricing for each, click the drop-down button, add the desired currency, and enter the price in the provided field. Note that it is not possible to sell a product in currencies that are not added here.

Price Tier (Volume / Tiered)

  • From: The starting quantity for the tier, calculated based on the 'To Quantity' value of the previous tier.
  • To: Tier roof
  • Price: Price of each unit on that tier or a flat fee
  • Price Base:
    • Flat: A fixed price for any quantity within the tier
    • Per Unit: A price applied per individual unit.
  • Add Tier: Use this option to add additional tiers.
  • Last tier is infinite: Check this box if you do not want to specify a 'To Quantity' for the last tier, meaning there is no upper limit for it.

Press Save

 

Charge Financial Properties

Financial Properties (Press Edit Financial Properties):

More on Billing Details

  • Billing period: Frequency the client will be billed
  • Period alignment: How the billing will sync with the order
  • Billing day: When to charge the client
  • Revenue Recognition rule: How the revenue will be recognized
  • Deferred revenue: At what account the deferred revenue will be booked
  • Recognized revenue: Where the revenue will be recorded
  • Tax template: What template this client will have for taxes (More on tax templates)
  • Tax included: If the tax is included in the initial amount, then activate this

Press Save

 

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