This session gives you an overview of the Pricing, Discounts, and Taxes in iVendNext.

Each unit in this chapter is designed for focused learning and should be reviewed carefully. Topics Covered in this session:

• Mastering Price Lists and Discounts

• Simplifying Taxes and Additional Charges

• Flexible Pricing Across Sales Cycle

To maintain a structured learning path, participants must complete all units within the session before advancing to the next chapter.

Mastering Price Lists and Discounts

The article below provides an introduction to Price Lists and Discounts in iVendNext.

1. Why Pricing Management Matters

In any sales‑driven organisation, price is more than just a number—it’s a strategic signal. Effective pricing ensures that customers see value while your business maintains healthy margins. Poorly managed pricing, on the other hand, can lead to revenue leakage, customer confusion, and competitive disadvantage.
A structured approach to price lists and discounts helps you:

• Keep rates consistent across all sales channels

• Offer competitive deals without compromising profitability

• Adjust pricing for specific customer segments or markets

• Track promotional performance with measurable data

This guide walks you through everything from creating your first price list to applying discounts confidently.

2. Getting Ready: Prerequisites for Price Lists and Discounts

Before setting up your pricing framework, make sure:

• Items are created and categorised: Every product or service should have an item code and description.

• Basic units of measure are defined: Decide whether you’re selling in pieces, boxes, kilograms, or another unit.

• Currency settings are ready: If you deal in multiple currencies, define them in your system.

• Customer records are updated: This allows you to assign specific price lists to certain customers or groups.

Think of this as preparing the ground before planting seeds—the better your foundation, the smoother your pricing setup will be.

3. Step‑by‑Step: Creating a Price List

Follow these steps to create your first price list:

1. Navigate to the Price List section in your system.

2. Create a new Price List and give it a descriptive name (e.g., “Retail Prices – Domestic Market”).

3. Set the currency to match your target market.

4. Indicate whether it’s Buying or Selling—this ensures that the list applies correctly in transactions.

5. Populate item rates: Manually enter them or use an import option if you have a bulk list.

6. Save your changes and test by creating a sample transaction.

Pro Tip: Maintain separate price lists for wholesale, retail, and online customers to avoid confusion.

4. Assigning Price Lists to Customers

A price list is only effective when it’s applied to the right audience. You can:

• Assign a default price list to an individual customer

• Apply it to a customer group (e.g., “VIP Clients” or “Distributors”)

• Set it at the transaction level if a customer has multiple pricing arrangements

This flexibility means you can run different strategies—premium pricing for select customers, competitive rates for bulk buyers—without constantly editing your master data.

5. Creating and Applying Discounts

Discounts can be a loyalty tool, a marketing hook, or a way to move slow‑moving inventory. Here’s how to implement them:

• Create a Discount Type: Percentage‑based (e.g., 10% off) or fixed‑amount (e.g., ₹500 off).

• Link the discount to a Price List to make sure it applies automatically when relevant.

• Set validity dates for time‑bound promotions.

• Test in a sample invoice to confirm calculations are correct.

Well‑structured discounts prevent errors like double‑discounting or applying promotions to ineligible products.

6. Key Features That Make Pricing Easier

Modern pricing modules often include:

• Multi‑currency support

• Automatic rounding rules for consistent totals

• Pricing rules that combine conditions like “Apply 5% off if buying more than 100 units”

• Batch and serial number pricing for specialised goods

Leverage these features to keep pricing accurate and adaptable.

7. Points To Remember

• Review periodically: Update lists before seasonal sales or market shifts

• Keep naming conventions clear: “Retail‑Summer2025” is easier to track than “List1”

• Avoid manual edits in transactions—these bypass your controls and can cause errors

• Document your rules so team members follow the same process

Consistency builds trust—customers appreciate predictable and transparent pricing.

8. Real‑World Examples for Beginners

• Case 1: Retail Fashion Store

• Challenge: Seasonal collections need fast price adjustments

• Solution: Maintain separate price lists for “Current Season” and “Clearance” items

• Case 2: Wholesale Food Supplier

• Challenge: Bulk discounts for large buyers without affecting smaller customer pricing

• Solution: Create a “Bulk Buyers” price list linked to that customer group

9. Troubleshooting Common Pricing Issues

Problem: Wrong prices appearing in invoices
Fix: Check if the correct price list is assigned to the customer or transaction.

Problem: Discounts not applied
Fix: Verify discount rules, date validity, and item eligibility.

Problem: Currency mismatch
Fix: Ensure both customer and price list use the same currency or that conversion rules exist.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Simplifying Taxes and Additional Charges

The article below provides an introduction to Taxes and Additional Charges in iVendNext.

1. Understanding the Role of Taxes and Charges

Taxes and additional charges are an unavoidable part of selling goods or services. Managing them systematically ensures:

• Compliance with local laws and regulations

• Accurate invoicing and transparent pricing for customers

• Prevention of under‑ or over‑charging

• Easier reporting during audits or at tax‑filing time

Beyond legal compliance, well‑managed taxes and charges improve customer trust. A correctly itemised bill reassures clients that your pricing is fair and consistent.

2. Preparing Your Application for Tax and Charge Management

Before configuring taxes and charges, make sure you’ve:

• Set up your company profile with the correct address and registration details — these often determine applicable tax rates.

• Added your chart of accounts so tax and charge accounts have a place in your books.

• Created item records so tax rules can be linked to specific products or services.

• Defined currencies if you sell internationally.

Laying this groundwork ensures your tax and charge settings apply smoothly without manual overrides.

3. How to Set Up Tax Templates

A Tax Template tells the system how and when to apply a particular tax. Here’s the process:

1. Go to the Tax Template section.

2. Create a new template and give it a clear name (e.g., “VAT 18% Domestic”).

3. Choose whether it’s for Sales or Purchases.

4. Add the tax type (percentage or fixed amount).

5. Set the rate (e.g., 18%).

6. Link the tax to the correct tax account in your chart of accounts.

7. Save your template and test it in a sample transaction.

Tip: If you operate in multiple regions, create a template for each applicable tax jurisdiction.

4. How to Set Up Charge Templates

Additional charges may include things like freight, packaging, or handling fees. To create a Charge Template:

1. Navigate to the Charge Template section.

2. Create a new template with a descriptive name (e.g., “Standard Packaging Fee”).

3. Choose whether it’s a percentage of the invoice amount or a fixed fee.

4. Select the account to which this charge will be posted.

5. Save and test.

This prevents the need to manually add repetitive charges for each invoice.

5. Applying Taxes and Charges in Your Invoices

When creating a sales or purchase invoice:

• Select the relevant Tax Template and/or Charge Template from the dropdown list.

• Ensure the system automatically calculates totals based on your settings.

• Double‑check the final amount before submission to avoid disputes.

If the business uses inclusive pricing (tax already included in item prices), make sure the template settings reflect that.

6. Key Features That Simplify Tax and Charge Management

• Automatic calculation based on item and customer location

• Inclusive or exclusive tax options for flexible billing

• Tax and charge prioritisation if multiple rules apply

• Region‑specific templates to handle compliance across multiple areas

• Rounding adjustments to avoid fractional amounts in totals

Leverage these features to reduce manual intervention.

7. Monitoring and Reporting on Taxes and Charges

Your system can generate reports that:

• Break down taxes collected over a specific period

• Show total additional charges applied

• Help reconcile your tax liabilities with accounting records

A good habit is to run these reports monthly so there are no surprises at filing time.

8. Advanced Options for Special Scenarios

For growing businesses, you may need:

• Conditional taxes — e.g., apply only when total invoice value exceeds a threshold

• Multiple taxes — e.g., state and federal rates applied together

• Reverse charge mechanisms — where the buyer accounts for the tax instead of the seller

• Zero‑rating — for tax‑exempt sales like exports

These require careful configuration to avoid compliance issues, but they save significant time in the long run.

9. Avoiding Pitfalls

• Not updating tax rates after legal changes — always check government updates

• Applying taxes twice because both item rates and templates include them

• Forgetting to assign accounts — leads to misreported books

• Skipping tests — always create a dummy invoice after changes to verify settings

Preventing these issues is far easier than correcting them after customer invoices go out.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Flexible Pricing Across the Sales Cycle

The article below provides an introduction to Flexible Pricing Across the Sales Cycle in iVendNext.

1. Why Item Rates May Change During the Sales Cycle

Prices aren’t always static. They may shift because of:

• Supplier cost changes — fluctuations in raw material prices

• Market conditions — demand surges or slow seasons

• Promotions — special deals during festivals or events

• Customer‑specific negotiations — bespoke pricing for high‑value clients

Recognising this helps you prepare your system so it can adapt without disrupting operations.

2. Benefits of Flexible Rate Management

When managed well, rate flexibility can:

• Keep you competitive in fast‑moving markets

• Allow quick reaction to supplier price increases

• Enable targeted promotions without manual recalculations

• Support special rates for loyalty programs or bulk orders

A controlled flexible‑rate setup prevents chaos while still giving you the agility you need.

3. Configuring Your System for Rate Flexibility

To enable flexible pricing:

1. Go to your Selling Settings (or equivalent configuration area).

2. Turn on the option that allows users to change item rates during transactions.

3. Define permissions — not every user should have the ability to override rates.

4. Set approval workflows if high‑value discounts require managerial sign‑off.

This safeguards against unauthorised or accidental changes that could erode margins.

4. Setting Over‑Billing Allowances for Control

Sometimes, you need to allow billing slightly above standard rates — for example, to cover additional handling for urgent orders. Over‑billing allowances let you:

• Define a percentage or fixed amount by which an invoice can exceed the listed rate

• Apply it per item, per customer, or across the board

• Keep exceptions documented for audit trails

This is especially useful for businesses with customised orders or premium, rush‑delivery fees.

5. How Flexible Rates Work in Practice

Imagine you have a standard price list of $500 per unit:

• In a bulk order, you drop the rate to $450 to encourage higher volume sales

• For a last‑minute urgent delivery, you increase the rate to $525 to cover extra logistics

• During a holiday promotion, you offer a flat 10% discount

Your system reflects these changes in real‑time without requiring a new master price list every time.

6. Use Cases: When You’ll Need Flexible Rates

• Seasonal businesses (fashion, agriculture) adjusting prices with supply availability

• B2B suppliers with negotiated rates per client

• Exporters dealing with currency exchange volatility

• Event‑driven retailers offering flash sales or discounts for special dates

Identifying your use cases helps you structure rules in advance instead of scrambling reactively.

7. Managing Promotional Schemes for Better Sales

Promotional schemes let you automate discounts or special pricing rules, such as:

• Buy‑one‑get‑one offers

• Price breaks at certain quantities

• Seasonal discounts for a fixed period

To set up a scheme:

1. Name it descriptively (e.g., “Summer Sale – 15% Off Accessories”)

2. Define eligible items or item groups

3. Set start and end dates

4. Decide whether it applies automatically or via coupon code

5. Link it to relevant customer groups

Automation reduces manual intervention, ensuring your offers run on schedule and end on time.

8. Advanced Promotional Scheme Features

Many systems allow:

• Tiered discounts (5% off for 10–50 units, 10% off for 51–100 units)

• Customer‑specific promotions based on purchase history

• Geographic targeting for location‑specific campaigns

• Stacking rules to prevent multiple discounts from overlapping

Used strategically, these features protect your margins while still delivering value.

9. Practical Scenarios for Beginners

• Case 1: Furniture Retailer

• Problem: Seasonal clearance to make room for new stock

• Solution: Use a promotional scheme with 20% off selected items for 30 days

• Case 2: Industrial Supplier

• Problem: Rewarding long‑term customers without altering the main price list

• Solution: Assign flexible rates to specific customers with an over‑billing allowance for urgent orders

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.