--- title: "Price Lists > Create a Price List from Scratch" canonical: "https://technology.bytangram.com/space/TGKB/1305739269/Price%20Lists%20%3E%20Create%20a%20Price%20List%20from%20Scratch" format: markdown --- In WorkBook, a rate card is called a price list. The price list defines hourly rates for timesheets, price quotes, scheduled tasks, invoices, and the suggested profit margin on purchases. Price Lists are created and managed in the **settings** module and are usually managed by designated role(s) or person(s) within each agency. > ℹ️ Please reach out to your WorkBook system administrator or your Consultant if you cannot access the module. | **ON THIS PAGE YOU WILL FIND:** | | --- | | > Macro (toc) | --- ## CREATE A NEW PRICE LIST - To create a new price list, go to the** settings** module > **price lists & activities** > select **price lists** - In the **list** tab > click the **create new price list **button ![image](media://55443709-756b-4519-96cd-3f67a6ba40af) - Give the new price list a: - **Name **- name of the rate card - **Currency** - rate card currency - **Hourly sales price** - this is a compulsory field where you need to add a default hourly rate for time-based activities. This amount is just a starting point and can be amended later. - **Material unit price** - this is the default material unit price and only needs to be completed if you are bringing material activities into the price list and have not put a value in the hourly sales price field - **Purchase unit sales price** - this is the default purchase (3rd party) unit price and only needs to be completed if you are bringing purchase activities into the price list and have not put a value in the hourly sales price field - **Purchase profit margin** - another compulsory field where you need to add a default profit margin for purchases, which can be amended later. If there is no margin to be added simply put 1.0 into the field. To add a 10% profit margin it would be 1.1, 20% is 1.2, 30% 1.3, and so on… - Click **ok** ![image](media://e03679fe-281e-49cd-afcb-790acb24480a) --- ## ADDING ACTIVITIES TO THE PRICE LIST - In the **price list setup** tab > click **add new price list data** button > ℹ️ A default basic price will be created automatically by WorkBook with no activity linked to it. It can’t be removed or disabled. You can only change the rates for this basic price. > ℹ️ > ℹ️ The basic price will be used as a fall-back option if WorkBook can’t find any matched activity in the price list. ![image](media://a24a9416-fc05-4c6b-961b-c73b965e9d53) - In the **price list data** window select: - **Source type** - select Activity Price - **Priority** - this is the lookup priority, used when there is a complex pricing setup > ℹ️ An example of a complex pricing setup is if you have 2 different prices - one is set at the activity level and one at the employee level. When that employee is booked, WorkBook will look at which option has the higher priority (1 is highest and 9 is lowest) in order to select the correct rate. > ℹ️ > ℹ️ If you **do not** have a complex pricing structure then leave the default priority value. - - **Valid from date **- this is the date the rate will be effective from - **Hourly sales price **- this is a compulsory field where you need to add a default hourly rate. This amount is just a starting point and can be amended later. - **Purchase profit margin** - another compulsory field where you need to add a default profit margin for purchases, which can be amended later. If there is no margin to be added simply put 1.0 into the field. To add a 10% profit margin it would be 1.1, 20% is 1.2, 30% 1.3, and so on… ![image](media://fcd1c960-8e41-4cb2-bc5d-cb94d6904545) - Select the **activities** you wish to include on the new price list - This can be done by **checking the boxes** against the activities individually…or… ![image](media://db1dd866-f615-49fa-93f6-6bb882f88d7e) - By **checking the active box** - this will select all activities on your list ![image](media://2a2a9db2-4326-4da3-8640-a74fb362fcbf) > 📝 If you are creating a brand new rate card, it is recommended to bring all activities onto the new rate card and manage the activities by using the [activity access](https://tangram.atlassian.net/wiki/spaces/TGKB/pages/1311572023) feature. > 📝 > 📝 If an activity is not set on the rate card and is used in the system, the basic price will be applied. - Click **ok** --- ## ADJUSTING HOURLY RATES & PROFIT MARGIN - From the **price list setup** tab > you can adjust the **hourly sales price **&** purchase profit margin** next to each activity where relevant > ⚠️ Every activity must have an hourly rate! Use the default rate if this client does not have a specific rate for an activity on this price list. - To change an hourly rate > select the **activity** you wish to change the hourly rate for > click in the** hours sales price **column > add the new hourly rate** ** > ℹ️ For activities that are charged out as an hourly rate, it is best practice to also remove the default profit margin to from the **purchase profit margin **column. ![image](media://6582ce77-c9ea-41b8-8d4e-35be1b758c28) - Repeat for each activity where the hourly rate needs to change - For **third party activities** you should select the **activity** > and remove the** hours sales price** so the field is blank - To change the profit margin > select the **activity** you wish to change the profit margin for > click in the** purchase profit margin **column > add the new profit margin** ** ![image](media://ee7571e5-39f8-454f-b79d-2de6f4028196) - Repeat for each activity where the profit margin needs to change > 📝 This section refers to changing the hourly rates on a brand new price list. If you wish to update hourly rates & profit margins because your rates have increased then the best practice is: > 📝 > 📝 1. Create a new rate card by **[duplicating](https://tangram.atlassian.net/wiki/pages/resumedraft.action?draftId=1307869233)** the existing one, then update the rates accordingly…or… > 📝 2. Use the **mass update of price list** functionality --- ## ASSIGNING THE PRICE LIST TO CLIENTS A price list can belong to a single client or multiple clients in WorkBook. If the client has access to a price list it will be available for selection when you create a job against the client. To give clients access to a price list: - In the **list** tab > highlight the **price list** you wish to assign clients to - In the **sidebar** > change the drop-down menu to **client** > use the **check box** next to each client to assign/un-assign access ![image](media://86e5b622-4696-4fcc-aee4-b6f210461b6e) --- ## ASSIGNING THE PRICE LIST TO COMPANIES If you have more than one company/entity in your WorkBook database, you can limit which companies have access to the price list. - In the **list** tab > highlight the **price list** you wish to assign a company to - In the **sidebar** > change the drop-down menu to **company** > use the **check box** next to each company to assign/un-assign access ![image](media://055a2ab7-3f95-417f-9e88-c6d213b79fad) --- ### Related articles > Macro (contentbylabel)