The 'Price Type' feature offers flexibility in how you input and manage supplier rates, ensuring accurate cost calculations and quote generation. It accommodates various pricing structures used by suppliers.

Key Points:

• Diverse Input Options: 'Price Type' allows you to specify how the supplier rate is provided, with five distinct types:

  • Single: The rate applies to a single individual. This is common for services priced per person.

  • Group: The rate is a flat fee for an entire group, regardless of the number of participants.

  • Price Band: The rate varies based on the number of participants, with different price tiers for different group sizes. This allows for tiered pricing structures.

  • Accumulated Cost: The rate is calculated by accumulating individual costs, such as adding up the costs of various components within a package.

  • Hotel Rates: This type caters specifically to hotel pricing, which can be complex due to factors like room types, occupancy levels, and seasonal variations.

• Accurate Costing: By selecting the correct 'Price Type,' the system can accurately calculate the total cost for the booking, considering the number of participants, group size, or other relevant factors.

• Per-Person Conversion: For quoting purposes, the system typically converts all costs into a per-person basis. This provides clarity and transparency for clients, regardless of how the supplier initially structured the pricing.

• Purpose: The primary goal of 'Price Type' is to ensure accurate cost calculations and consistent pricing presentation, regardless of the supplier's pricing structure.

Therefore, when entering supplier rates, it's essential to select the appropriate 'Price Type' to ensure that costs are calculated correctly and quotes are generated accurately. This feature allows for precise cost management and clear communication of pricing to clients.