On this page, you will set your discounts offered to customers and your margin or markup amount. Discounts are a percentage off your sale price. If you choose to offer them, please increase your margin to cover these discounts.
Discounts
When no discounts have been added, the “Add New Discount” button will appear greyed out.
To create the first discount:
Enter the Discount Name.
Enter the Discount %.
Click Save Discounts.
After saving:
The “Add New Discount” button will become active and appear at the top right.
To add additional discounts:
Click the “Add New Discount” button.
Two text boxes will appear below the last added discount (or at the end of the list if none exist).
Discount Name
Discount %
Adjust the Discount %
Use the numerical stepper (up/down arrows) to increase or decrease the value
You can also type directly into the text box.
2. You can create up to three discounts, in the order you want users creating quotes to apply them when they click the three ellipses to view and use the discounts you, as the company admin, have customized.
3. The Add New Discount button will be disabled automatically after adding the third discount.
4. Reorder discounts using the up/down arrows next to each discount: The first discount’s up arrow and the last discount’s down arrow are greyed out.
Arrow sets:
Set 1: Moves the first and second discounts. The down arrow moves the first to the second position; the up arrow moves the second to the first.
Set 2: Moves the second and third discounts. The down arrow moves the second to the third position; the up arrow moves the third to the second.
Deleting a Discount entry
To remove a discount entry, click the red dustbin icon next to it.
Once done, click the Save Discounts button at the bottom of the section to save your changes.
Profit Setting
Markup
Definition:
This is how much you add to your cost to set your selling price.
It's based on cost.
Formula:
Selling Price=Cost×(1+Markup %)
Example:
If your cost is $100 and you want a 25% markup,
$100×(1+0.25)=$125 selling price.
Margin (or Gross Margin)
Definition:
This is how much profit you make as a percentage of the selling price.
It’s based on the selling price.
Formula:
Margin % = Selling Price - Cost/ Selling Price × 100
Example:
If you sell at $125 and your cost is $100,
(125-100)/125= 0.20 = 20% margin.
Key Difference
Quick Tip to Remember
Markup = How much more than cost do I charge?
Margin = What percentage of my sale is profit?
Setting your Markup
Follow these steps to set your preferred margin for projects:
Under the Margin section, you’ll see two questions side by side.
On the left, for the question “Do you want to use markup or margin to determine your sell price to the customer?”, click the drop-down and select Markup.
On the right, for the question “How much margin % do you want on your projects?”, click inside the text box to enter your preferred percentage.
Alternatively, use the numerical stepper to increase or decrease the number by one.
Once done, click the Save Margin button to apply and save your changes.
Setting your Margin
Follow these steps to set your preferred margin for projects:
Under the Margin section, you’ll see two questions side by side.
On the left, for the question “Do you want to use markup or margin to determine your sell price to the customer?”, click the dropdown and select Margin.
On the right, for the question “How much margin % do you want on your projects?”, click inside the text box to enter your preferred percentage.
Alternatively, use the numerical stepper to increase or decrease the number by one.
Once done, click the Save Margin button to apply and save your changes.
