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Did You Know...? | Price Book

The price book is the heart of our Successware software. It includes all your parts, labor, overhead, miscellaneous items, and flat rate tasks. It is a complete list of everything your company buys and sells. The price book is what everything in the platform connects to, whether it be invoicing, accounting, estimates, call taking, jobs, etc.

With Successware, we can house your price book, which in turn integrates into your accounting seamlessly, eliminating the need to pay an additional company to host your price book or to pay for an accounting software. Successware is specifically designed for the home service industry and has capabilities that the other platforms may not have. There is tremendous value in having your price-book and accounting all in one platform!

Set Up Your Pricebook for Efficiency

Successware allows you to upload your current price book part items into our platform with a simple Excel spreadsheet. Once all items are uploaded, you can tie each item to a sale and expense type. The sale and expense types trigger how the item or task will hit your general ledger. This is a significant differentiator compared to other accounting platforms because others make you decide which general ledger account each transaction is tied to every time you input data.

By doing this upfront in Successware, you eliminate the need to assign a sale and expense type for each transaction. This significantly reduces the risk for human error, will save you time, and decreases the number of transactions on your general ledger at the end of the year. Most businesses have 4,000 – 5,000 parts in their price book. When you think of it that way, you will be saving tons of time each year per item and invoice.

Add Margin Formulas to Easily Calculate Margin and Sale Price

When you add your items to the price book, you can group them by like items and add a markup formula to that group to calculate the sale price of an item. You are entirely in charge of your margin and will know what you will make from day one, leaving no surprises.

Assigning formulas to each group makes it easy to implement a mass update to the cost of items if you ever get a manufacturer price increase. For example, if a manufacturer increases prices by 5%, you can filter by manufacturer and add 5% to each item's cost and sale price.

If your company decides to absorb the price increase, you can leave the sale price alone. Changing the cost and sale price are done in two different areas for this reason. If you want to add the 5% price increase to the selling price, you can do that as well with another simple step.

If your business doesn't charge your customers tax on the final invoice, but you want to recoup that cost, you can add tax to be built into the final price. The customer will only see the final price and not see the tax.

Successware also offers you the option to create a Profit Margin Matrix. For example, you can say for your items that cost between $0.01 and $20.00, you want to mark the items up by six times the cost. But, by the time you get to higher-cost items that are more than $1,000, you cannot mark them up by a significant margin. You will overprice yourself right out of the market. So, for these, you may only want to add a 5% margin.

Create Margins for Flat Rate Tasks

A flat rate task is a combination of parts, labor, and miscellaneous items that you sell at a single price. Once you have all your items set up, you can create your flat rate tasks. You can add all components to a task and choose any additional markup you would like to add as well.

Successware will give you the price of each flat rate task by combining the cost, markups, and tax for all parts, labor, and miscellaneous items. As a result, you will see two prices - Our Price and Retail Price.

Our price is the sum of what you should charge for the task when factoring in all the other costs, markup, and tax. The retail price includes an additional markup of about 7% on top of the Our Price. You can choose to use the Retail Price, or override it to something more suitable for your business.

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