Itinerary Pricing in Tourwriter

Itinerary Pricing in Tourwriter

After you set up your Supplier rates, the pricing page will populate pricing for all bookable items added via the Build tab in any of your Tourwriter itineraries. To learn how to add rates to a Supplier, see Supplier Pricing on Tourwriter.

Itinerary pricing overview

The itinerary you create will have a complete itemised pricing table. The itemised prices are fetched from the supplier rates that you associate with each itinerary product and it’s associated options. 

Days: The days field displays the appropriate Day number or numbers the item is booked for. The Pricing display defaults to Order by Day.

Item: The Item field summarizes the Supplier Product details as per the itinerary builder. It includes the Product name, the Option and the Quantity, as well as the Supplier name and the Duration. To Order by Item, click the Item header.

Type: The Type field lists the Product Type as listed on the Supplier. To Order by Type click the Type header.

Net: The Net price indicates the price payable to the Supplier. The price is brought across from the Supplier setup. 

Markup: The default Markup % listed is as per the Supplier set up. The Markup % can also be edited. The Pricing display defaults to Markup %. A User can also display Commission % or Margin $ by selecting an option by clicking the cog icon.

Gross: The Gross amount is the price payable by the Traveler. The gross price is brought across from the Supplier. The Gross price is adjusted by adjusting the Net price or the Markup.

Agent Commission / Agent Markup: Based on the Agency Commission type used in the Itinerary, it will either show Agent Commission or Agent Markup column. User can also display Agent Margin $ by clicking the cog icon. Agent Margin $ is the absolute difference between Gross price and Agent price.

Agent Price: Agent Price is calculated based on the type of Agency Commission.


Filter by

You can filter Bookable Products on the Pricing page using Supplier name, or Product type.
Note: When a filter is applied, both the Total Pricing row and the Display Pricing row will not be shown.

Supplier name: 
The filter will display a list of all Suppliers added to the itinerary.
When you select one or more Suppliers, only the items from those Suppliers will be displayed on the Pricing page.

Product type:
The filter will display a list of all Product types included in the itinerary.
When you select one or more Product types, only the items belonging to those types will be displayed on the Pricing page.

Itinerary pricing lines warnings

You may come across a warning message on an empty pricing line. This warning message relates to the absence of an associated Supplier rate for the duration of the Booking. To resolve this:
  • Add a pricing rate for the Supplier for that particular period.
  • Click Refresh to fetch the relative Supplier prices.
    • Note: You may also see a warning message on an empty pricing line when there is a Supplier Blackout period. Supplier Blackout period indicates the Supplier is closed for business during that period.

Note: If you’d like to secure specific prices or markup percentages from changing, lock those prices through the options menu before you refresh. To access Options, click on the 3 vertical dots at the end of each pricing row.

Editing booking prices

Even though your Supplier prices are brought across to the Itinerary automatically, you can overwrite prices at the itinerary level.
  1. Edit the price for each booking by accessing the Options menu (three vertical dots at the end of each row)
  2. Select Edit pricing.
  3. When editing the price of an item, you can edit the per person per day/night price, and the total price will be automatically updated.
  4. Depending on what combination is selected in Calculate using dropdown, User can change either the Net, Markup percent, Commission percent or the Gross price.
    Note: By default, the combination setup at the Supplier-> Pricing tab will be selected.
           Net and Markup
            User can change Net and Margin, Commission and Gross will be calculated automatically OR
            User can change Markup and Margin, Commission and Gross will be calculated automatically.

           Net and Gross
            User can change Net and Markup, Margin and Commission will be calculated automatically OR
            User can change Gross and Markup, Margin and Commission will be calculated automatically 

            Net and Commission
            User can change Net and Markup, Margin and Gross will be calculated automatically OR
            User can change Commission and Markup, Margin and Gross will be calculated automatically 

            Gross and Commission
            User can change Gross and Net, Markup and Margin will be calculated automatically OR
            User can change Commission and Net, Markup and Margin will be calculated automatically

            Gross and Markup
            User can change Gross and Net, Margin and Commission will be calculated automatically OR
            User can change Markup and Net, Margin and Commission will be calculated automatically 

Use existing rate period

As a user building an itinerary with suppliers who haven’t loaded new season rates, I want to select a previously available rate to estimate pricing based on past season rates. To do this, follow the below steps from Edit pricing window, 
  1. Click the 3 dots More icon
  2. Select Use existing rate period
  3. Select the available rate from the displayed list
  4. Click the Select button
  5. Click Save

Quantity

When we update quantity from the Build tab for an Item with Edited pricing, the system refresh’s and fetches the Supplier rate, deleting the edited rates from the Itinerary in the process.

Users can now update the quantity directly from the Itinerary-> Pricing-> Edit pricing screen. System will use edited item prices for recalculating and will not fetch Supplier rates.

Locking booking prices

You can lock certain booking prices to prevent them from being overridden during a rate refresh or after changing the Supplier pricing once it has been added to the itinerary. The following are the Lock Rate options:

  • Lock net: Prevents the system from fetching updated Supplier net rates. Also, prevents Supplier level changes from reflecting in the itinerary.
  • Lock markup: Locks the Markup percentage. Changes to the Net rate at the Supplier level adjusts the gross price automatically.
  • Lock gross: Locks the Gross price. Changes to the Net rate at the Supplier level adjusts the markup automatically.
  • Lock all: None of the prices for this Product changes when prices are refreshed.

Note:

  1. It is recommended to lock all prices that are confirmed/set for the specific itinerary.
  2. If the Prices are locked, User will see a warning Quantity can’t be amended for services that are locked on the Pricing tab if they try to change the Quantity from the Build tab.

Edit item details

Users can update the item details from with in the Pricing section.
Simply click the 3 dots on the right of the item and select Edit item details. This will open the Edit item dialog over the top of Pricing window.
Any edits the User make will be saved as if the Edit item dialog is open on the Build tab. Once the changes are saved or cancelled, User will be returned to Pricing page as before.

Managing the price options

Once Items have been added to an itinerary and an items quantity and price has been confirmed Users can adjusted or override default itinerary display settings to ensure the Travellers 

Adjusting the sale currency

Since each supplier can be set up with its own currency, some itineraries may contain line items displaying different currencies. The Itinerary pricing page displays a summary of each currency used in the itinerary at the bottom. Tourwriter lets you choose from three options for your currency conversion. For more information refer the Default settings section on the page.
  1. To convert the currency, click the edit icon just above the total price.
  2. You can either refresh the conversion rate to fetch the updated Fixed exchange rate or current Spot rate.
  3. Or you can manually overwrite the conversion rate by overtyping the value. 

Buffer

A default currency exchange rate buffer can be setup in Organisation Defaults. This buffer will automatically apply:
  1. To all new itineraries.
  2. When an itinerary is copied with “Refresh Exchange Rate” selected.
However User is allowed to change the Organisation Default Buffer at the Itinerary level by entering the required Buffer value.
The buffer is applied on top of Online exchange rates or Fixed exchange rates or Edited exchange rates
Examples

Base rate
Buffer
Effective rate
Online Exchange Rate
1.73195545
5%
1.81855322
Fixed Exchange Rate
2.36
6%
2.5016
Edited Exchange Rate
0.0152
3%
0.015656

The buffer is applied on top of:

Online exchange rates

Fixed exchange rates

Edited exchange rates

Adjusting the total price

You can display either the Total price or the Price per traveller. The Price per traveller divides the total itinerary price between all the travellers on the itinerary. To change the itinerary pricing to Price per traveller:
  1. Click on the drop-down at the bottom of the Pricing information. The two options presented are Total price and Price per traveller.
  2. Select Price per traveller.

The traveller also has an option to pay a deposit price. To enter a deposit amount:

  • Enter an Amount under Deposit information.
  • Select the Due date by when the traveller can make a deposit payment.

Create price history log

Users can keep a record of the itinerary Total price for future reference. The Price history records total for all the pricing columns along with the date/time the history was pinned and which User pinned the price. When adjusting products the final gross price for an itinerary may change. The Price history log allows a User to reference a historical price and restore this if required.
  • You can add the price to history by clicking the ‘pin’ button.
  • By clicking on more, you can see the price history.
  • When the last pinned price is equal to the current price, then the pin button is disabled.

Pricing display options

There are many options to set the way pricing appears on the Proposal or the Final Itinerary.
  1. Navigate to the Itinerary Pricing display options dropdown at the bottom of the Pricing Information page.
  2. Select one or more display options. The options you can choose to display are:
    • Total price: Shows the Itinerary Display Gross price. If an Agency is added, then based on the Agency commission type, it might either show Display Gross or Agent Price. Refer below Note.
    • Agent total price: This field is only available with an Agency is added to an Itinerary. Depending on the Agency commission type, this might either display Display Gross price or the Agent price. Refer below Note.
    • Price per traveller: This will display the price per traveller based on the Total price.
    • Split Pricing: 
    • Inclusions: Lists all the bookable items items in the Itinerary.
    • Show item prices: This field is only available when Inclusions is ticked. IF Show item prices is ticked, then it will display the price of each item.
  3. You can select multiple options to display a combination of these pricing. But you can only choose one from Price per Traveller and Split Pricing.
  4. To send the itinerary to the traveller without adding a price, ensure none of the options are selected.
Note: When an Agency is added, then the Total price will show the Display Gross price and Agent total price will show Agent price  if Agency Commission type is 1. Agent commission from Gross or 2. Override Supplier Markup. Similarly, Total price will show the Agent price and Agent total price will show Display Gross price  if Agency Commission type is 1. Agent commission on top of Gross or 2.  Agency adds Markup themselves.

Update items

Update items feature allows Users to select multiple bookings and either refresh pricing or lock/unlock booking items. User needs to tick/untick the checkbox besides the item and then perform either Refresh pricing or lock/unlock. If none of the booking item is selected, the Update items button will be disabled.

Note: When performing Refresh pricing, only unlocked items will be refreshed.

Round item prices

You can round Item Total Gross or Item Agent Price according to your requirements.
When an item is first added, or when its price is edited (from Edit Pricing for Total Gross or Edit Agent Pricing for Agent Price), the system automatically rounds the value to two decimal places.
You can further round the entire price to the nearest specified value. using the Round item prices functionality.

To Round Item Prices:

  1. Select the item(s) by checking the box on the left.
  2. From the Update Items dropdown, choose Round Item Prices.
  3. In the Price Type dropdown, select either 1. Gross Prices or 2. Agent Prices (available only if an Agency is added to the itinerary).
  4. Enter the required rounding value in the Round up to the nearest field.
  5. Click Update.
Price calculation formula = Formula is: Ceiling(Initial price / rounding factor) * rounding factor
Examples:
Price before
Round up to nearest 
Price after
123.45
0.05
123.50
123.451124.00
123.452124.00
123.453126.00
123.455125.00
123.457126.00
123.45
10
130.00
123.45
100
200.00




Effects of Rounding:

  1. When Gross Prices are rounded, Markup, Margin, Commission, Agent Price, and Agent Commission/Markup are recalculated using the rounded Gross Price and the Net.
  2. When Agent Prices are rounded, Agent Commission/Markup is recalculated using the rounded Agent Price and the Gross Price.

Exporting pricing

After finalising the itinerary pricing you can download the pricing to a spreadsheet and upload it to your accounting tool. To download the pricing:
  1. Finalise the pricing by confirming the itinerary.
  2. Head to the Pricing tab.
  3. Click Export pricing to Export the Pricing information.

Following fields/columns will be exported in the Pricing export file.

  • Product
  • Option
  • Supplier
  • Supplier address
  • Product code
  • Inclusions
  • Duration
  • Quantity
  • Type
  • Day number
  • Start date
  • End date
  • Currency
  • Net
  • Net item
  • Markup
  • Gross
  • Gross item
  • Agent commission
  • Agent price
  • Agent price item

Note:

  1. If the itinerary is not confirmed, the Export pricing button will be disabled on the pricing page. Refer to this article to know more about confirming an itinerary.
  2. Agent commission, Agent price and Agent price item will only be exported if an Agent is added to the Itinerary.
  3. Clients on Premium plan can Export Pricing without having to Confirm the Itinerary.
  4. The Total Tax rate % is the average of the individual bookings Tax rates and is indicated by the prefix Avg.
  5. User can now set negative Markup, i.e. Gross can be less than the Net price.

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