In the Costs related list, click New. For the Unit Cost field, enter 2100. Click Save. Great, now Salesforce knows the cost of the Firewall product. This is useful even if you don’t use cost plus markup pricing, since cost is used when calculating margins. If you forget to add a cost record, CPQ treats the product as though its cost is $0.
Full Answer
What is special price in Salesforce CPQ?
Salesforce CPQ uses the Special Price field to hold the result of cost plus markup, allowing comparisons between it and the list price. This is useful when creating validations or approval processes to ensure sales reps are using markup within reasonable bounds.
How are products priced in Salesforce?
Instead of a product getting priced automatically by Salesforce CPQ, a product starts with a base price (its cost) and then the sales rep adjusts that by an amount or a percent. This is similar to what happens when you buy a car—the sales rep starts with the price the dealer paid, then marks up the price for better commission.
What is configurator evaluation in Salesforce CPQ?
A price rule’s configurator evaluation event determines when Salesforce CPQ applies the price rule to its target. You can change the evaluation event based on when you want sales reps to see the price rule’s results.
What are bundles in Salesforce CPQ trailhead?
In the Configurable Bundles in Salesforce CPQ Trailhead module, you learn that bundles are just groups of products sold as a set. Sometimes bundles include percent of total products as options.
What is list price in Salesforce CPQ?
The list price is the quote line's initial price. When you quote a product, Salesforce CPQ pulls the quote line's list price from the product's list price entry in your price book. If you select a product's or quote line's Price Editable field, you can override the list price in the quote line editor.
How do I create a price rule in Salesforce CPQ?
A. Click New in the Price Condition related list and set the field values: ►For the Object field, select Quote Line....Create a Price Rule that will specify that it will be evaluated on the Quote Line Editor and for calculation events.A. Click the Price Rules tab from the navigation bar.B. Click New. ... C. Click Save.
What is regular price in CPQ?
Regular Price– Regular Price is a derived from List Price. Regular Unit Price is a Field on Quoteline object in Salesforce CPQ. This field is populated after the system discount is deducted from List Price. For example, List Price of lunchbox is $15 and there is a volume discount schedule which is 10%.
What is special price in Salesforce CPQ?
Special price is the price if set takes precedence over the List Price in the calculation of Net Price by undergoing the calculations related to the Salesforce CPQ Price Waterfall. One of the circumstances is the scenario of Contracted Price.
Which is a salesforce CPQ pricing method for products?
Salesforce CPQ uses the negotiated price on new quotes, renewal quotes, and amendment quotes. The quote line's effective quantity field represents the actual quantity that Salesforce uses while calculating prices for that quote line.
What are option constraints in Salesforce CPQ?
Option Constraints allow you to enable or disable a Product Option for selection based on the selection of another product option in the same Bundle Product.
What is the difference between net price and unit price?
Net Unit Price means the Gross Unit Price less an amount equal to 7% of the Gross Unit Price (equivalent to the Sales Commission) for each Unit or fraction thereof purchased by an Affiliated Limited Partner.
What is net unit price?
The net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted.
What is price waterfall?
Pricing waterfalls are classic tools used to measure the various steps of how the price for a product cascades down to the pocket margin, also referred to as NET or NET 3 margins. These most commonly align with how retailers identify the various contributors to their margin.
How is prorate multiplier calculated?
If your quote uses a start date and end date, the quote's term equals all the days in this period including the end date. 05/23/19 through 09/30/19 totals 131 days. Our prorate multiplier is (131/365) = 0.3589. Our prorated list price is $12000 * (131/365) = $4306.85.
What is a discount schedule?
Discount schedules provide tier-driven discounts to the list price of your quote lines. For example, you can sell routers for $25 each, but apply the following discounts based on how many routers a customer buys. In this case, you create a discount schedule with three tiers.
How do I create twin fields in Salesforce?
Create Twin Fields on the Quote LineIf you're not still on the setup page, click. and click Setup. The Setup page opens in a new tab.Click Object Manager.Click Quote Line.Click Fields & Relationships.Click New.Click Picklist.Click Next.For Field Label, enter Size .More items...
Get Ready
You’ll be completing this challenge in your own hands-on org. Click Launch to get started, or click the name of your org to choose a different one.
Your Challenge
The Warranty Extension product provides a longer warranty for products that run the risk of failure. Its price should be 5% of the overall price of the products that are covered, but no less than its price book price. Set up the Warranty Extension product to calculate its price using the percent of total pricing method.