Using Formulas

Formulas allow calculating any numeric product fields (such as production costs, different marketplace prices, overhead rates, added value, etc.). Formulas can include product or gemstone parameters, and general business parameters.

• Create Formulas
• Special Fields
• Fixed Values
• Apply Formulas

Create Formulas

1. Go to Catalog -> Generators -> Formulas
2. Add new / edit existing Pricing Template (Formula)
3. In the Formula page
   • set the Formula title
   • create the Formula
     • create any standard mathematical functions
     • select any numeric product fields
   • Click Save to update the Formula

Special Fields

• Precious metals prices: located under metal prices section. More info: Gold & Precious metals prices Feed
• Currency prices: located under Currency Rates section. More info: Currency rate Feeds

Fixed Values

Some product parameters are common for all products. In this case, it's more effective to store them as Fixed Values - external constants, and not as a product field. The same Fixed Value can be used in multiple formulas.  Once Fixed Value is updated. It affects all Formulas where it's present. 

A good use of Fixed Values is calculating product costs. Fields like Caster Salary, Setting per Stone cost, VAT, Base shipping rate, and other are common for all products and can be set as Fixed Values. 

To manage Fixed Values:

1. Create a constant on the Fixed Values page. The page can be accessed from the Formulas page
2. Provide title, shortcode and the value. 

Apply Formulas

1. Open Catalog
2. Filter and select the products
3. Click System Action  -> Calculate Values
4. In the pop-up "Calculate Values":
   • "Fields to set" - select the price field for the update
     • Only "numeric type fields are displayed
   • Template - select the Formula to apply to the fields
   • "Use price improvements" - the Price Improvements algorithms will be applied for calculated prices if checked.
   • Check "Overwrite" in case of changing existing prices
   • Click Set to update the products
5. Check the results in the relevant Batch

Keeping the "Overwrite" option unchecked allows you to quickly complete the missing information. Run "Calculate Prices" for products in bulk, with "Overwrite" unchecked, to skip the products with existing values while updating products with no existing value in the destination field. For simple calculation of prices, use Price Calculation Effective way of using Formulas are Procedures, which allow to run multiple calculations in one click