In iCRM you can create Opportunity with Line Item. The Products module is used to reference the Company's product details such as description, product number, price, cost and whether its taxable or not. Here also you can identify a product as a Subscription item that is used for your Recurring revenue process.
How to Create a new Product
1. Select Products from the Object Navbar.
2. Click on New Product Button from the Action bar.
A new Product form is opened and some default fields are pre-populated. The form is organized by section, Product information and Other information.
3. Enter Product Name. It is mandatory. Required fields are denoted by (*) asterisk.
4. Enter Account/Contact. Not mandatory.
5. Set Subscription field, "Yes" / "No"
6. Set Taxable field, "Yes" / "No"
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If product is Taxable = Yes then any tax percentage set on Opportunity is applied to the amount calculated for this line item. If product is Subscription = Yes and if Subscription module is enabled: If Opportunity Line item has a subscription product, then a Subscription record is created when an Opportunity is Won. |
7. Enter Price.
Select Pricing Type whether;
- Daily
- Weekly
- Monthly
- Quarterly
- Yearly
8. Enter values for system-defined fields.
For instance, Category, Code and Cost.
9. Enter values user-defined fields, if applicable.
All User-Defined Fields are setup and configured by the Administrator.
10. Type entry for Comments, if desired.
11. If QuickBooks is integrated, enter the QuickBooks Product ID.
12. Setup Discount Rules if applicable. Click here on How to Add Discount Rules.
13. Click on Save on the action bar to save record.
Note: Save button turns green if all the mandatory fields are filled-up.
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