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How to Set a Default Cost for a Product or Service


This feature not only allows you to keep track of vendor contact information but calculate how much it costs you to produce each product or service. This then allows you to determine what price to charge your customers for that product.  Calculate the total cost of the product by adding the vendor product and costs for time into vendor information within StudioCloud desktop. Learn how by following the instructions below. 

How to Calculate Cost and Prices for Products and Services

  1. Click on the Point of Sale component
  2. Click on the Settings tab
  3. Click the Manage Price Lists button
  4. Click the New Product/Service button or find and edit an existing product or service
  5. Enter in the Cost or click the Calculate Costs Based On Vendor Products button to calculate the cost 
    1. If you click the Calculate Costs Based On Vendor Products then you will be able to select various Vendor Products that you use to create this product.  That will calculate the total cost for this product.
  6. Click the Calculate Price Based On Cost button
  7. In the Markup Options a user may select
    1. Fixed Amount Markup – a fixed amount is added to the costs to determine the price
    2. Percentage Markup on Cost – a percentage markup method is employed, meaning that a user determined % of the cost, will be added to the total cost to determine the final price.
  8. Enter the Markup Amount
  9. Click the Save button in the Price Markup window
  10. Click the Save button to save the product or service