Updating Supplier Pricing

In this article, we will guide you through the various methods available to update supplier pricing in Turbo Inventory. Whether you're updating pricing for one supplier or multiple products, Turbo 

Inventory offers flexible ways to keep your product costs up to date.

1. Update Pricing for a Single Supplier Using the Price File Import

If you receive updated pricing for a large number of products from a supplier, the fastest way to update them is through the Price File Import.

1. Go to the Suppliers list and select the supplier whose pricing you want to update.

2. Click View on the supplier, then click Edit.

3. Use the Price File Import option to upload the new pricing information. If you do not have the template required for this import, please contact our support team for assistance.

4. With this template, you can update pricing for hundreds of products across the supplier in one go.

2. Update Pricing for Multiple Suppliers Using the Product Cost Import

If you need to update prices for multiple suppliers or products, you can use the Product Costs Import feature.

1. Go to Stock > Products and select the Import option.

2. Choose Product Costs from the import options. This allows you to update prices for multiple pack sizes and suppliers at once.

3. If you do not have the template for this, please reach out to our support team, and they will provide it.

3. Manually Update Product Costs

If you prefer to update the price for individual products manually, follow these steps:

1. Navigate to the product and click on the three dots next to the product name.

2. In the Purchase Cost field, type in the new price if you're updating the current pack size from the current supplier.

3. To add a new pack size for the same supplier, enter the new price and pack size details. You can also assign a new supplier if necessary (e.g., if a product was not previously supplied by a supplier but is now available from them).

4. Click Save to update the product cost.

4. Add Supplier Pricing for a Product

If you need to add supplier pricing for a product, follow these steps:

1. Go to the Supplier Pricing tab for the product.

2. If no supplier pricing exists, you can add new entries by clicking Add New.

3. Select the Supplier and enter the pricing details.

4. Click Save to update the pricing information for that supplier.

5. Update Pricing During Stock Booking

You can also update product pricing when booking stock into the system:

1. Go to Goods In and click Book Stock In.

2. During the stock booking process, set the new price for the products.

3. If your users do not have permission to set prices while booking in stock, you can update the product pricing when the invoice is received.

6. Update Pricing via Supplier Invoice

When receiving a supplier invoice, you can also update product pricing:

1. Go to Supplier Invoices and click Add Supplier Invoice.

2. Select the Supplier and input the relevant details from the invoice.

3. Update the price of the products in the invoice as needed.

Conclusion

Turbo Inventory offers multiple methods for updating supplier pricing, allowing you to choose the approach that works best for your business. Whether you are importing bulk pricing updates, making manual adjustments, or updating pricing during stock booking or invoicing, Turbo Inventory is flexible to meet your needs.