PLEASE NOTE:
The majority of the contents in this guide apply to both StudioPlus Spectra AND myStratus Desktop.
In most cases, instructions referring to "Spectra" also apply to myStratus Desktop.
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Home > Price List > Advanced Pricing
Advanced Pricing

    
NOTE: This feature is available in the Standard, Professional, and Enterprise versions of both Spectra and myStratus Desktop.

The Pricing and Costs tab is enabled when you click Use Advanced Pricing on the ribbon. Use the options on this tab to set different price levels based on quantity, add options and enhancements to the item, and set up item costs.


HERE'S A FLASH FOR YOU!

If you're setting up your price list and simply want to get it up and running quickly, you may not want to use advanced pricing. However, it can be to your advantage to use the features in advanced pricing. You should use advanced pricing if:

  • The price for an item varies based on the quantity purchased (Quantity-Based Pricing).

  • You want to add options or enhancements to this item.

  • You want to track the costs associated with this item.

Note: When using advanced pricing, you will not be able to enter or modify the standard price, standard cost, or discounted price on the General tab.

Prices Mode

Click Modify my Prices to set up the amount you charge your clients for this item based on quantity ordered, as well as how much you charge for selected options and enhancements when added to this item. You can simply pick and choose which sections of this tab apply to the item you are pricing.

For some of your price list items you may use all the features on this tab. For example, on an 8x10 print you may want to include price levels for quantity-based discounts (i.e., to give a price break when three are ordered and again when five are ordered). You may also want to add options that can be chosen from when invoicing the 8x10 (i.e., add a price for your "Standard Mount" and "Classic Frame" options). Finally, you may also want to add some enhancements that can be chosen from when invoicing (i.e., add a price for your "Spot Color" and "Deluxe Retouch" enhancements). 

For other items on your price list, you may just use one of the features on this tab. For example, on a senior session you may want to add a price for a "Location Fee" to the Options section so that it can be chosen when invoicing the session. In this case you would enter your session fee in the price level 1 column and there would be no need to create additional pricing levels.

Setting up Pricing Levels

Use pricing levels to define item quantities that qualify for a discount. For example, if the price of a print is reduced when more than five are purchased, that quantity and pricing information would be entered here. Spectra will then automatically calculate the correct price on the invoice based on how many prints are being ordered, eliminating the need to continually watch for quantity discounts!

  • Price Levels - Drag the slider to create additional price levels for quantity-based pricing, if desired.

  • From/To Qty - The software will automatically supply the From Qty as you enter the To Qty for each level. The To Qty of the last pricing level will always contain a "+" (representing "or more") to accommodate unlimited quantities.

  • Base Price - Enter the base retail price you charge for the item at each price level. If you're not using multiple levels, you'll just enter the base price in the first column.

  • Discounted Price - The discounted price entered here will automatically be used if a client orders this item a la carte at the same time they order a package. This feature allows you to give a better price to a client when they purchase a package. This line is only available if you check the Use Discounted Prices when Package Ordered box on the General tab.

Adding Options

Options may be added to the base price of an item at the time of invoicing. Examples include framing, mounting, or sprays.

  • Select an option that should be offered with this item and then enter the price you'll charge at each pricing level.

  • If there is only one pricing level, enter the price in the first column.

  • Click the next row to add another option.

  • The software can also prompt or require an option to be selected at the time of ordering. Simply check Prompt if Missing or Required above the options grid.

Set up and maintain your options list under Maintenance > Price List > Item Option List. See also: Item Options

Adding Enhancements

Enhancements, such as retouching, can also be added to the base price of an item at the time of invoicing.

  • Select an enhancement you would like to offer with this item and then enter the price you'll charge at each pricing level.

  • If there is only one pricing level, enter the price in the first column.

  • Click the next row to add another enhancement.

  • The software can also prompt or require an enhancement to be selected at the time of ordering. Simply check Prompt if Missing or Required above the options grid.

Set up and maintain your enhancements list under Maintenance > Price List > Item Enhancement List. See also: Item Enhancements


HERE'S A FLASH FOR YOU!

"How is pricing calculated when using options and enhancements?"

At the time of invoicing, you can choose one predefined option and one predefined enhancement. The first step is to determine the quantity-based pricing level. For example, if the client is purchasing 10 - 5X7’s and a pricing level is established for quantities 10 through 20, then all pricing would come from that pricing level. Next, the price for the option (for that price level) would be added to the price for the enhancement (for that price level), which would be added to the base price for the item (again for that price level). For example, an enhancement price of $3.50 would be added to an options price of $1.50, which would be added to the base price of $20.00, which would equal the new item price of $25.00. Finally, this new item price of $25.00 would be multiplied by the quantity of 10 to equal the extended price of $250.00.

Costs Mode

Click Modify my Costs to enter information about the actual cost of an item – the amount you pay your vendor for this item. It looks and functions just like the Prices Mode. However, the amounts entered here are for the item’s actual cost, not the retail pricing. You can also enter the actual costs of options or enhancements. Cost information is used in profit analysis reports. The costs mode is not required unless you plan to use accounting profit reports. See the Profit Analysis Report topic.



See also


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