Adding Product Price Book Entries

Adding Price Book Entries for your Product

Admins specify the price(s) of a product by creating Price Book Entries for the product. Mobileforce CPQ does not allow users to select a product as a line item in a quote unless a Price Book Entry exists for the selected Price Book.

Price Book Entries for a Product are created and managed from the Pricing tab of the Product list view.

Additionally, the Price Book Entries for a Price Book can be managed from the Prices page. For more information, see Managing Price Book Entries.

Creating Entries

To create a Price Book Entry, from the Product list view, navigate to the Pricing Tab of a Product. Any existing entries are listed in the Price Book Entries table.

The Pricing tab not only lists any existing Price Book Entries, but also it provides options for Admins to specify how frequently the price is invoiced to a customer and the allowable discounts for the product. For more information, see Adding Products to Mobileforce CPQ.

Click the Add Entry button to open the Add Price page.

From this page, you can specify the price book options, description, method, unit-price and/or fixed price, and the effective/expiration dates. When finished, click Save to add the Price Book Entry to the Product.

The following sections describe the options that you can specify:

General options

Optionally, specify Tag and Description details as needed.

Note:

When you save the price book, Mobileforce CPQ automatically populates the metadata values (such as Created Time) for the product.

Precision of CPQ Values

Input fields of type number, decimal, currency, and percent can have a precision specified. The default precision for number fields is 0, while other field types are 2. To change the precision, use the property:

 property ‘cpq-<field-type>-precision'

For example, to set the cpq-currency precision to two decimal places, and cpq-quantity precision to three decimal places, use the following properties.

    <prop key="cpq-currency-precision">4</prop>
    <prop key="cpq-quantity-precision">3</prop>

In addition, you need to specify an additional ADL property:

    <prop key="cpq-decimal-precision">5</prop>

Note: Precision

if you set cpq-quantity-precision to a value larger than its default, you should also set cpq-decimal-precision as well.

The CPQ tables only support a maximum of 5 digits of precision for stored numeric fields in CPQ objects such as products and prices. Any value above 5 will be truncated to 5 digits of precision.

Read-only numbers will use the precision to determine the number of fractional digits to display. The precision must be non-negative integer.

The step is used to set the step attribute. If set to 0, then decimal values cannot be entered. If a precision but not a step is specified, the step will be computed from the precision 1/(10^precision). On the other hand, If a step but not a precision is specified, the precision is determined from the step by counting the number of digits it sees in the step after the decimal point.

Prices options

The Prices options are determined by the Method selected, the price entries specified, as well as the Pricing Tier options (if the method is Volume, Tiered or Block)

First click the Method dropdown list and select method used to specify how the product's subtotal is priced when added as a line item in a quote, based on the specified quantity.

Select from the following options:

Flat Fee
The specified price is added to the quote, regardless of the product's quantity.

Per Unit
The specified list price is multiplied by the quantity of items selected in the quote.

Example:
In the next two examples, a organization has created a Price Tier matrix for apples, where the first tier is $10 for 1-50 apples, the second tier is $8 for above 51 apples.

Volume
Mobileforce determines the List Price from the Price Tiers, based on the quantity in the line item. The quantity is then multiplied by the selected List Price.

Example:
If 70 apples were added as a line item in a quote, the Subtotal would be $560, where 70 apples were multiplied by the second tier price of $8.00.

Tiered: Mobileforce looks up the List Price(s) from the Price Tiers, based on the quantity in the line item. The quantity that matches each tier is multiplied by the selected List Price, and then added together to determine the Subtotal.

Example:
If 70 apples were added as a line item in a quote, the Subtotal would be $660, where 50 apples were multiplied by the first tier price of $10, 20 apples were multiplied by the second tier price of $8, and these values were added together.

Block: Mobileforce determines the flat fee for the items based on the Price Tiers and the quantity in the line item.

Example:
If a organization has created a Price Tier matrix for apple bushels, where the first tier is $100 for 1-3 crates, the second tier is $200 for 4-6 crates. If 5 crates were added as a line item, the Subtotal would be $200.

List Price: The price that is populated when the item is added to a quote. This is the Unit price for the product. Used by the flatFee and perUnit methods.

Minimum Price: The lowest price that the item can be discounted in a quote.

Note: The minimum price provides the lowest price value of a price tier. It works for pricing methods such as per-unit, block, and volume pricing. Here’s what “minimum price” does in case the pricing method is “per-unit”. If the unit price is $1, and the Minimum Price is set to $5, then whenever the number of units is less than 5 (i.e., 1, 2, 3, 4) the line item price will still be $5, rather than unit price multiplied by #units. In other words, the minimum price has the effect of setting the floor on the price in a line item, thus incentivizing the buyer to buy at least 5 units. The minimum price works similarly for other price methods.

Note also that the Minimum Price does not prevent the user from entering a smaller price i.e., it’s not intended for UI validation.

Price Tiers

For the volume, tiered, and block methods, the price book item has an associated matrix of prices, which provides a list price for a given range of quantities.

Each row in this matrix has the following fields.

id: Internal unique numerical ID for this table row.

priceBookItemId: Id of the price book item owning this tier

from: Start quantity of this tier.

to: End quantity of this tier.

listPrice: Unit price for this tier.

Multiple Price Book Entries

While some organizations have a single Price Book, many others have multiple Price Books, typically when quoting products for multiple geographic locations, currencies, or customer segments.

If your organization has multiple Price Books, you must create a Price Book Entry for each Price Book where the product can be added as a line item.

However, Mobileforce cautions the use of multiple Price Book Entries for the same Price Book, as there is not a clear way to distinguish between entries without additional Mobileforce Admin configuration.

Some organizations require the ability to price a product differently in different contexts.

Example:
A hardware company provides a service management contract that has a single product listing in their Price Book; however, there are two pricing plans, one price for their standard customers, and a higher price for their enterprise customers.

This is configured by using tags. Mobileforce CPQ provides the Tag field on the Add Price page. Admins specify a unique tag for the Price Book Entry to distinguish it from other entries. Admins then can create rules that ensure that the correct Price Book entry is selected when a Seller chooses the applicable option when adding the product as a line item.

The following screenshot shows two Price Book Entries for a product, one entry is disambiguated by the enterprise tag.

For more information, see Leveraging Pricing Flexibility using Tags.