Automation of itinerary pricing automation starts with supplier rate management. In Tourwriter you can set up Supplier rates for new and existing Suppliers in your Tourwriter Supplier database allowing automatic pricing when building itineraries as well as easy supplier payment reconciliations for confirmed itineraries.
Rates are loaded per product option and can easily be broken down into different rate seasons.
To begin setup your supplier. Head to a supplier and click on the Pricing tab
Margins
A defined rate % and margin type can be set for each Supplier. To set up a Supplier’s rate:
- In the Margins panel select the margin type:
- Net - When adding rates calculation uses Net and Markup to find Gross and Commission.
- Gross - When adding rates calculation uses Gross and Commission to find Net and Markup
- Both - When adding rates calculation uses Net and Gross to find Markup and Commission
- Add a Supplier’s default rate that will be applied when adding new rates. This can be overridden when adding new rates and at the itinerary basis.
Note: Default rate can only be applied when Net and Gross types are selected
Currency
User can assign a default currency that the supplier will be paid in. There can only be one currency per supplier.
Select the appropriate currency from the drop down to assign it. Only currencies configured in the Organization settings will be available via the drop down.
For more information on setting up currencies read this help article.
Payment Terms
The Payment Terms feature allows users to pre assign expected payment due dates and details to confirmed itinerary bookings allowing forward reporting on expenses. n the Pricing tab
- Scroll down to the Payment Terms
- From the Generate due date dropdown list select one of:
- Number of days before service date
- Number of days after service date
- On day of month of service
- On day of month following service
- When booking set to payable booking status
- Select the Days – only positive numbers between 0 and 99
- Select payment details enter the details
Note: It is recommended you select When booking set to payable booking status as your default Payment term if the alternative terms are not suitable for a supplier.
Adding Prices to a Product
After setting up the conditions of your contract with the Supplier in the Set margins section, add prices to each Supplier Product.
- Select the Products tab within the Supplier.
- Select the Product you would like to set up rates for.
- Select the Options tab for this product.
Rate Periods
Products are usually priced for a set rate period to manage different sale prices during the year. To set the rate periods:
- Click the $ symbol alongside an Option to access the edit rate periods options.
- Select Create rate period
- Add a:
- Name - Used to help identify rates in the system later
- Start date - You cannot have overlapping rate periods
- End date
- Choose when the Rate period remains active based on:
- Entire Period: A rate applicable for the specified date range
- Weekdays & Weekend: An option that lets you separate Weekday rates from Weekend rates
- Individual Days: Lets you define different rates for each day of the week.
- Enter the Net, Markup, Gross and Mark as applicable including a negative Markup if required, i.e. Gross can be less than the Net price.
Important points to consider while configuring your Rate periods:
- The Rates Period section displays the active rate period. To access an expired rate period, click the drop-down at the bottom of the section.
- A Rate period can be edited, duplicated and deleted once it has been set.
- Tourwriter only allows you to add a new time period after duplicating an existing Rate period.
Blackout Periods
Blackout periods are designed to indicate the period the Product Option is unavailable. To add a blackout period:
- Switch to the Create blackout period tab after clicking the $ symbol.
- Enter the Name, the Start date and the End date.
- Select whether the Blackout period applies on account of a close-down or unavailability of check-ins.
Important points to consider while configuring your Blackout periods:
- Blackout periods can overlap Rates Period but not vice versa. You cannot set any Rate periods over a Blackout period.
- To set a Rate period when a Blackout period is already in place, you’d have to delete the Blackout period.
- You cannot schedule check-ins or start an itinerary on a date that spans the Blackout period.
Supplier referral commission
This is useful for supplier who has products that require a gross payment (instead of the usual Net payment) at the time of booking with a referral commission payment made later, usually after travel starts. ie Insurance commission payments.
An item assign this type will default the Gross value to the Supplier payment when it is created ensuring the supplier payment can be correctly reconciled when made. The item margin will set as the Referral commission amount and this can be marked as received in Supplier payments to ensure correct reconciliation of your supplier commission receipts.
To assign a product as a referral commission product type:
- Head to your chosen supplier
- Select the product to configure
- On the Setup tab navigate to the Payments panel containing the Referral commission payments apply checkbox
- Select the checkbox and navigate off the tab to Save
Note: The checkbox will be blank by default. Deselecting the checkbox means in future the type will not be a applied to an item when it is added to an itinerary.