Getting Started with Calculated Pricing in quote•hapily

Use Calculated Pricing in quote•hapily to automate unit price calculations for products with variable measurements. This guide walks you through setting up a formula, testing it, and assigning it to products for accurate and efficient pricing.

Calculated Pricing is a powerful feature in quote•hapily that allows you to define custom formulas to calculate the unit price for specific products. This is especially useful when prices depend on dimensions, weights, or other product-specific properties. Let’s walk through setting up a Calculated Pricing formula using the example of calculating board feet for lumber pricing.

Why Use Calculated Pricing?

Calculated Pricing lets you:

Automate pricing for products with variable measurements, such as custom-sized materials or services.
Ensure accuracy in pricing by applying precise mathematical formulas.
Reduce manual work and the chance of errors during quoting.

For example, if you sell lumber and price it based on board feet (a standard measurement of volume), you can use Calculated Pricing to automate the calculation based on the dimensions of the wood.

How to Set Up a Calculated Pricing Formula

Follow these steps to create a formula and assign it to your products:

1. Create Your Formula

Navigate to Calculated Pricing:
- In the left-hand menu, go to Pricing > Calculated Pricing.
Click on “Create Formula”.
Enter Formula Details:
- Formula Name: Give your formula a descriptive name, such as "Board Feet."
- Formula Description (optional): Add details about what the formula does, e.g., "Calculates board feet for lumber pricing."
Define Your Formula:
- Use the formula builder to calculate the unit price. For board feet, the formula is:
```
(Length (ft) × Width (in) × Thickness (in)) / 12
```
- Add variables like Length, Width, and Thickness by clicking "Insert" and selecting properties from the dropdown menu. You can also use basic math operators like +, -, *, /, and parentheses ().

2. Test Your Formula

Scroll to the Test Your Formula section.
Input sample values for the variables:
- Length: 8 ft
- Width: 14 in
- Thickness: 1.25 in
- List Price: $3.89
Verify the calculation:
- The formula result will appear below as the Sample Output. For example:
```
(8 × 14 × 1.25) / 12 = 11.6667 board feet
Unit Price = 11.6667 × $3.89 = $45.38
```
Adjust the formula if necessary and test again.
Once you’re satisfied with the results, click Save.

3. Assign the Formula to Products

After saving, switch to the Assign to Products tab.
Select the products that will use this formula by clicking the checkbox next to each product.
Click Save to finalize the assignment.

Tips and Best Practices

Name Your Variables Clearly: Use descriptive names like “Width (in)” or “Length (ft)” to make your formula easy to understand.
Test Thoroughly: Always test with different sample values to ensure your formula works for all scenarios.
Group Similar Products: Use the same formula for products with similar pricing logic to simplify management.
Document Your Formulas: Add clear descriptions to help team members understand what each formula does.