Price

Prices define the unit cost, currency of products. Products help you track inventory or provisioning, and help you track payment terms. Products should represent various physical goods or levels of service, and prices should represent different pricing options.

The Speed web application allows you to define multiple prices for a product. It is an essential module for managing invoicing.

Let’s look at the price life cycle

The price lifecycle in Speed refers to the different stages that a price can go through during its lifetime. These stages include:

• Active: This is the stage when a price is in effect and can be used to charge customers. A price is initially created in the active stage.
• Archived: This is the stage when a price is no longer active and cannot be used to charge customers.
• Deleted: This is the stage when a price is permanently deleted from Speed.

How does the price object work?

Creating a price

A price can be created to generate invoices and get paid. You have the option to create a price through the Speed web application or the Price APIs. Learn more about this here.

Retrieving a price

You can retrieve all the details of a price using the API or the Speed web application. Learn more about this here.

Retrieving all prices

You can retrieve a list of all the prices using the API or Speed web application. Learn more about this here.

Filtering all prices

You can retrieve a list of all the prices for specific product(s) using the API or Speed web application. Learn more about this here.

Updating a price

You cannot update a price because it might be associated with a draft invoice, which would then cause uncertainty.

Archiving a price

You can archive a price through the Speed web application if it is not used anymore or becomes obsolete.

📘

Any previous invoices generated for the archived price remain unaffected.

Unarchiving a price

You can unarchive a price that has been archived through the Speed web application. Once the price has been unarchived, it again becomes available for invoicing.

Deleting a price

A price that is not associated with an invoice can be deleted from the Speed web application.

Use-cases it solves

• Creating and managing products and prices.
  You can use the price module to create products and prices in the Speed web application or through the API. This allows you to define the different products or services you offer, as well as the prices for each.
• Creating variable prices.
  The price module allows you to create variable prices, which means that you can charge different prices for different customers or in different regions. This can be useful for businesses that want to offer discounts to certain customers or that want to charge different prices for different countries.
• Quick invoicing
  It allows users to generate invoices without having to enter the price details repeatedly.