Value
Last updated
Last updated
The Value refers to how much money an Opportunity is worth.
The Value field is mainly what differentiates an Opportunity from a Project in Daylite. Projects do not have the value field and so this can help you when deciding whether to use an Opportunity or Project in Daylite.
Daylite uses your computer's current system currency that is defined by the Language & Region in System Settings. Daylite does not support multi-currency.
The Value of an Opportunity can be expressed two different ways in Daylite.
You can add a monetary amount directly into the Opportunity.
You can use Products/Services to calculate an Estimate value of your Opportunity.
Pro Tip:
If you have added a monetary amount into the Value field, it will be overwritten if you decide to use the Estimate method instead.
An Estimate works by allowing you to add multiple line items that are used to create an estimate or quote for your products and services.
Let's start by creating a New Opportunity.
Choose the Estimate tab on the top right of the Opportunity.
To begin adding line items to this estimate, choose the + button at the bottom of the Current Estimate display. There are two options to choose from:
Custom: manually add multiple line items
Product/Service: add your pre-determined product or service
This option allows you to manually add multiple line items into the Estimate. These line items are not set up ahead of time, as they are with the Product/Service option.
Double tap the line item to give it more detail.
Use the TAB key to move between Quantity, Price, and Discount.
To re-order line items simply drag and drop.
Be sure to click Save when you are done.
This option involves setting up details and values related to your products and services ahead of time, so they are available to use with multiple Opportunities. This means you can produce a standardized price list that offers you consistency and saves you time on data entry, as you simply have to choose from a list of possible options. Once entered, Product/Service information can be edited to make specific changes to the description or price.
To set up pre-determined products and services to use in your estimates, navigate to Settings > Products & Services.
Choose whether you want to create a Product or a Service.
Add a name for the new Product and fill in any additional information that may be relevant.
In most cases, it would just be the product name and maybe a description.
The Product ID, Model Number, SKU Number and UPC Code may be used in your accounting program or other external system for tracking your product inventory.
This is the same process as creating a Product, however the additional attributes are reduced to just the Service ID.
The Pricing tab lets you enter the price of the product or service. This is an excellent way to automate the process of adding a dollar value to your Opportunities, and can always be adjusted as needed.
Remember that the currency value is set by the computer's system currency.
Suggested Units: This is the unit quantity of a specific Product or Service. It is defaulted to 0.
Pro Tip:
Set the Suggested Units to 1, as this will then be included as a default for your Opportunities and save you having to enter it manually every time.
Cost of Goods and Profit: These are optional fields that you can also include. This data is considered for information purposes only.
Applicable Taxes: If you have set a Tax value in Daylite Settings > Taxes you can choose whether or not to automatically add the Tax value to your Opportunities. This can save you having to add tax each time you create an Opportunity.
This tab is normally used for Products exclusively, if you have lots of information to record for a specific item.
You can define up to five extra field types and one extra date for each Product. These could be used to record unique identifier information such as the name of the manufacturer or the product code, product colour or size, or you could use the extra date to record the manufacture date for example.
This tab is reserved for any comments or additional information about the Product or Service. This information can be included in the detail of the quote or Estimate that is being produced.
The values for taxes will depend on the the region you are in, and can be added by navigating to Daylite Settings > Taxes.
Depending on where your business operates, you may need to charge more than one tax.
If you want that tax to be automatically added to your Estimates, be sure to check the box called:
In some cases I charge a primary tax
In some cases I charge a secondary tax
Otherwise you can leave these blank and decide at the time when you are creating the estimate.
Discounts can be applied in two different ways:
By adding a discount as a percentage of the full price value
By adding a discount line item
As you can see, discounts have been applied to each of the two line items. Double tap each line item to add a discount.
The Total column value is reduced by the discount value.
Start by creating a line item called Discount, then double tap it to enter a description.
Enter a value of -1 and the price you would like to reduce the total estimate by.
A new button will now appear in your Opportunity called Edit Estimate. You can use this button to change the estimate, or update the value.
