To configure the pricing of your accessories, visit the office, click on "Pricing Engine," and then select the "Accessories Pricing" tab. You will see three tabs: Mark-Up, Labor Rate, and Taxes.

Accessory Mark-up

Here, you can control the mark-up for each accessory based on the product cost. As an example, if a thermostat has a product cost of $300, it will fall under the $250.01-$500 range and be marked up by 82%, resulting in a 45.05% margin. Note that you can override the sale price of accessories (more on that later).

Labor Rate

This is where you can establish the hourly labor cost and hourly labor price that will be applied to your accessories (if desired). You can allocate the number of labor hours to each individual accessory under the Accessories tab:

Accessory Tax

This is where you can enter the tax rate you want applied to your accessories. The tax will be applied to the accessory product cost as a mark-up:

After setting up your mark-up, labor rate, and accessory tax, you can set the individual material cost and labor hours for each accessory. To do so, click on the "Accessories" tab and select the accessory you would like to edit.

Labor Hours

Input the number of labor hours you want applied to the accessory. Next to the Labor Hours you will see the Labor Cost and Labor Price based on the values input under the Labor Rate section

Material Cost:

Input any miscellaneous material costs associated with the individual accessory.

Product Cost

This is the actual cost of the accessory.

Product Tax

This is the tax set up under the Taxes section previously mentioned. This value will be applied to the product cost. If you wish to apply tax to material or labor, please factor in the tax when inputting the respective cost.

Total Cost

The total cost is the sum of the labor cost, material cost, product cost, and tax.

Price

This is the calculated price of the accessory with all variable mentioned above factored in. The formula we use to calculate the price is:

Price = (Product cost + Material Cost + Tax) * Accessory Mark-up range + Labor Price

Example:

3. Calculate Marked-up Price: $429.25 * 1.82 = $781.24

4. Add Labor Price: $781.24 + $100 = $881.24

Override Price

You also have the ability to override the price of the accessory. To do this, click the "Override" toggle to "Yes" and input your desired sale price. Note that overriding a price will bypass the automatic mark-up calculations.