Managing your product pricing and quoting efficiently is key to streamlining your specification process. Our Financial view is designed to simplify these calculations; here's a breakdown to help you navigate these fields, and understand how they interact.
Pricing and markup
What information do I need to enter into the Financial view?
Direct Input Fields:
RRP (Recommended Retail Price) | You can directly input the RRP for a product. This is the retail price your client would pay if they purchased the product directly from the supplier. |
Trade Price | This is the price at which you, as a designer or retailer, purchase the product. You can directly input this value. |
Trade Discount | While this field can automatically calculate the discount based on the RRP and Trade Price, you also have the option to input a specific discount percentage directly. |
Quantity | The number of units you need. Inputting this value is essential for accurate cost calculations. |
Markup (optional) | Determines the additional percentage over the cost that you charge your client. This field can be a direct input or a calculation based on other inputs. |
How do I calculate my costs, client price, savings, and profit?
The below fields that interact with others to calculate their associated totals and percentages. When you input values here, they will automatically adjust based on the logic outlined here.
Calculation Fields:
Cost | This field calculates the total cost based on the Trade Price (or RRP if no Trade Price is present) and Quantity. |
Client Price | The price at which you sell the product to your client, calculated based on the Markup or entered directly |
Client Savings | Shows the discount percentage your client receives off the RRP, calculated automatically. If the savings are <0%, this field will be hidden from client view. |
Profit | The difference between the cost to you and the price to your client, calculated to help you understand your margin. |
How Calculations Work:
Entering RRP and Trade Price | Start by inputting these figures. The system uses these values to calculate the Trade Discount if not directly entered. |
Trade Discounts | Trade discounts are calculated based on the difference between the RRP and Trade Price. You can input these values, or enter in the Trade Discount percentage to find the Trade Price. |
Adjusting Quantity | Without a quantity, cost calculations cannot proceed, so ensure this field is populated to see cost figures. |
Setting Markup | The markup is added to the discounted Trade Price, rather than the RRP. Inputting a markup percentage will calculate the Client Price, Client Savings and Profit. These fields adjust dynamically as other values change, ensuring that you can see the impact of different markups instantly. |
Interconnected Calculations | Changing any value recalculates related fields. For instance, adjusting the Client Price will update the Markup and Profit based on the existing Trade Price and Quantity. |
Practical Example
Imagine you input an RRP of $200 and a Trade Price of $100 for a product, with a quantity of 10. Your Trade Discount would be automatically calculated as 50%.
And similarly, if you set a markup of 50%, the system calculates the Client Price, Client Savings, and Profit, offering a clear view of your financials for this product.
Tax
Are the prices on my Schedule shown inclusive or exclusive of tax?
With our tax functionality, you can select your tax preferences within your project to show pricing as either inclusive or exclusive of tax. You can set your local tax rates and preferences at an Organisational level, and then apply these to your Project.
Once your tax preferences, of either tax inclusive or exclusive, have been set for your Project, tax rates from your Client Price will be calculated accordingly.
Please note: in Programa, tax categories refer to the following definitions:
Non-taxable: No tax is applied to the product.
Tax exclusive: Tax is added on top of the product price - so the total increases.
Tax inclusive: Tax is already included in the product price. You'll still see the tax amount, but it won't increase the total.
Can I exclude markup from tax calculations?
If you want the tax to be calculated without the markup, you need to disable the markup feature. Navigate to your financial settings and toggle off the "Add Markup" feature.
However, note that your markup cannot be excluded from tax calculations while also showing markup and tax totals separately. The tax will always be based on the total client price, which includes markup if it is enabled.
For more information on setting up your tax rates and preferences, see our comprehensive Tax Guide
Can clients see my trade pricing and markup?
To hide Trade pricing, ensure "Add Mark-up" is toggled on. If your "Add Mark-up" toggle is off, clients will be able to view your RRP and Trade prices if you've chosen to share pricing with them via PDF or live sharing options.
Supplier Quoting
Why can't I add a product to my Quote Request?
Products marked with the below statuses are excluded from bulk requests, to save items being quoted multiple times.
Quoting
Closed
Rejected
Ordered
Payment Due
In Production
In Transit
Installed
To include a product in a new quote request, change its status to Draft, In Review, or Selected. See How to request supplier quotes from your Schedules.
Will a supplier's quote change my products automatically?
No. Supplier responses wait in a review bar at the top of your schedule until you accept or reject them. Nothing changes until you accept.
Does my supplier need a Programa account?
No. They quote from a secure link that stays active for 30 days.
What can a supplier suggest?
Only what their permissions allow, such as pricing and lead times, product specifications, or alternative products. You can change their permissions from the access list at any time.
What happens to fees a supplier adds?
Freight, installation and custom fees appear in the review panel as estimates. Accept a fee to add it to your schedule as a line item, or reject it. An accepted fee only goes onto an order if you select it when you create the order.
How do I see which products are out for quote?
Check the Procurement status. Sending a request sets it to Quoting, then accepting or rejecting the quote sets it to Quote accepted or Quote rejected.
Orders
Can I edit the information shown in my Orders?
Yes! You can customise which item descriptions appear in your main Purchase Order (PO) view. To do this, go to Settings > Orders in your account and update the Item Descriptions section.
These settings will determine the default information displayed in your main PO view. Any additional details will still be available in the attached product specification sheets.
Need more help? Contact our support team via live chat for personalized assistance.