To manage Kitset Pricing, go to the Pricing tab of the Kitset. The tab displays in two sections, separated into Costs and Prices.

Latest and Average Costs

When a kitset is created, the Latest and Average costs are determined from the components of the kitset. Costs are available to update when components change, such as the addition or removal of components, or changes to prices of the components. 

In the Costs tab the Shipping and Purchase fields are available for price updates, the Automatically update toggle controls the updating of the Latest and Average costs. Select Edit to activate the toggle and turn On or Off.

When set to ON, updates to component costs are reflected in the kitset cost. When set to OFF, the costs can be manually changed. Alternatively, selecting Get calculated cost prices will do a one-off update of the kitset costs by summing the costs of the components.

In the Pricing tab,the different price levels are available for price updates, the Automatically update price levels toggle controls the updating of the price levels based on the prices in the individual components. Select Edit to activate the toggle and turn On or Off.

When set to ON, updates to price levels are reflected in the kitset price. When set to OFF, the costs can be manually changed. Alternatively, selecting Update price levels now will do a one-off update of the kitset price by summing the prices of the components.

Received Kitsets

The Costs for Received Kitsets can be determined by the sum of the components costs or the value entered on a kitset Product Receipt. By default, the current Latest Price is applied to a Product Receipt for a Kitset, these can be over-written. As part of posting the Product Receipt, the method to Update Costs is applied. This determines the update made to the kitset costs. For example, if Update Latest and Average costs is selected, both costs update on the kitset, or if Do not update costs is selected, no changes are made.

Reset cost prices

To do a one-off update of the costs of a kitset based on the components, turn Automatically update from components Off and select Get Calculated Cost Prices. 

Price Levels

As with standard products, the Pricing of a kitset is shown in its Price Levels section. The values displayed are a reflection of the software Settings along with the Pricing Method used. 

Settings

Product Settings control whether pricing is based on Latest or Average costs. Refer to Pricing | Product Settings for more information. 

Pricing Methods

Pricing Methods apply to Kitsets in the same manner as for Products and are set to either Fixed or Markup.

Fixed Price - prices are set to a manually entered value. When Costs are refreshed the Markup and Margin percentages per Price Level are adjusted, not the price.

If a change to the price is required, the edit pencil beside the price level opens the pricing, ready to enter the new price.

Price Group Markup - the markup percentage remains constant and the Sell price varies as Costs vary. When Costs are refreshed and Price Levels update the sell price changes automatically.

The Kitset must belong to the Product Group the Markup is for for to be eligible to use the Product Group Markup pricing method. 

The Automatically Update from Components toggle provides the option for the price to update automatically based on the sell price of the components. Select Edit to activate the toggle and slide On or Off.

Set this option to OFF to manually control pricing for each price level. Use the edit pencil beside the price level for this. Kitsets using Product Group Markup are priced from the product group and are not manually updated in the price levels table.

The Update price levels option provides a one-off re-pricing of the Price Levels based on the Sell Prices of the components. The update will apply if Fixed Price is the Pricing Method used or, if Product Group Markup is selected, to Price Levels without a Markup set against them.