Creating a Product

This is the detailed reference for product configuration in Veles. It covers every option available when creating or editing a product, including advanced scenarios like multi-component pricing, formula-based pricing floors, and multi-currency plans.

---

​

Product details

Navigate to Admin > Price Books > Products and click + New Product. Click Save. You’ll land on the Product Details page where you can add pricing plans.

---

​

Pricing plans

A pricing plan defines how a product is priced and sold. Every product needs at least one pricing plan to be quotable. Click Add Pricing Plan from the Product Details page.

​

Plan-level settings

Currency: The currency for this pricing plan. If you sell in multiple currencies, create a separate pricing plan for each. For example, a product might have a USD plan and a EUR plan, each with their own tier structure. See Adding Currencies. Payment type:

• Recurring — billed on a repeating schedule (annual, monthly, quarterly). Used for SaaS licenses, subscriptions, and ongoing services.
• One-time — billed once at the time of the transaction. Used for implementation fees, setup costs, and one-off services.

Pricing floor (optional): Sets the minimum price for the product, preventing reps from discounting below a threshold. You can define the floor as:

• Fixed amount — a hard dollar value (e.g., $1,000 minimum).
• Formula — a calculated floor based on other variables (e.g., cost-plus margin, or a percentage of list price). Formulas can reference Data Sheets for dynamic floor calculations.

---

​

Components

A pricing plan is built from one or more components. Each component has its own name, pricing method, and tier structure. The final price is the sum of all components. Single-component products (most common): A product with one pricing dimension. For example, a SaaS license priced per seat. Name the component (e.g., “Base License”), select a pricing method, and configure tiers. Multi-component products: A product with multiple pricing dimensions that add together. For example:

• Component 1: “Platform Fee” — a flat $500/month base
• Component 2: “Per-Seat License” — $25/user/month using volume pricing
• Component 3: “Premium Support” — 10% of the total using Percentage Of

The rep sees the combined price on the quote line. Each component calculates independently and the results are summed.

---

​

Pricing methods

Each component requires a pricing method. These determine how the price is calculated from the rep’s inputs. For detailed explanations with worked numerical examples for each method, see Pricing Models.

​

Percentage Of: advanced options

The Percentage Of method has two additional settings: Tiered percentages: Instead of a single flat percentage, you can define tiers. For example, 10% on the first $100k of deal value and 7$100k. ARR-only calculation: Toggle this to calculate the percentage against recurring line items only, excluding one-time fees. This is commonly used for support plans where the fee should be a percentage of ARR, not the total deal value including implementation.

---

​

Lookup drivers

The lookup driver determines what input value drives the pricing calculation. This is the “x” in “price per x.” Quantity (default): The number of units the rep enters. Use this for standard per-seat, per-license, or per-unit products. Custom drivers: For transactional or consumption-based products where the pricing input isn’t a simple unit count. Examples:

• “Transaction Value” — the dollar amount of transactions processed, used to determine a per-transaction rate
• “Annualized Construction Volume” — a customer metric that drives tiered pricing
• “Credit Consumption” — estimated API or compute credits

With custom drivers, the driver value determines the rate, but the quantity on the order is typically fixed at 1 (representing one instance of the SKU).

​

Input scale

Input scale simplifies data entry for reps working with large numbers. Options: Singles, Hundreds, Thousands, Millions. When set to “Millions,” a rep enters 42.5 and Veles interprets it as 42,500,000. This reduces data entry errors on high-volume consumption products.

---

​

Pricing tiers

For Volume, Graduated, and Stair-step pricing methods, you define tiers using the boundary table.

​

How boundaries work

Veles uses upper boundaries to define tier ranges. Each tier covers the range from the previous tier’s upper boundary to its own. In this example: 0-5 units are Tier 1, 6-10 are Tier 2, 11-25 are Tier 3, and 26+ are Tier 4.

​

Live calculation preview

As you build the tier table, Veles shows a live preview of the calculated price for a given input. Use this to verify your tier structure produces the expected results before saving.

​

Editing tiers on live products

You can edit a product’s tier structure after it’s live. Changes apply to new quotes only — existing quotes that already include the product retain the pricing from when the line item was added.

---

​

Rep permissions

At the bottom of each pricing plan, toggle the permissions that control what reps can modify when they add this product to a quote.

​

List Price Editable

When ON, reps can manually override the calculated list price with a custom value. Use this sparingly — it’s designed for legacy SKUs without standardized pricing or new products that haven’t been fully priced yet. When a rep manually edits the list price, automatic calculations are overridden. To recalculate pricing after a quantity change, the rep must clear the List Price field first.

​

Disable Discounting

When ON, reps cannot apply discretionary discounts to this product. Only automated Pricing Rules or promotions will affect the price. Use this for products with non-negotiable pricing (e.g., regulated fees, pass-through costs).

​

Name Editable

When ON, reps can rename the product on customer-facing documents. The underlying SKU and system name remain unchanged for reporting and CRM sync purposes.

​

Quantity Editable

When ON, reps can change the unit count even if a default quantity was set on the product. When OFF, the quantity is locked to the default value.

​

Transactional

Marks the product as billed in arrears (e.g., a percentage of transaction volume processed). Transactional products are:

• Excluded from Total ARR calculations on the quote
• Displayed as a rate to the buyer (not a fixed total)
• Typically used for revenue-share or consumption-based line items where the final amount is determined post-close

---

​

Managing existing products

​

Editing a product

Navigate to Admin > Price Books > Products, select the product, and click Edit on the Product Details page. You can update any field: name, SKU, category, custom fields, description, or status. Changes to product metadata (name, category, custom fields) take effect immediately across the platform. Changes to pricing plans affect new quotes only — existing quotes retain their original pricing.

​

Multi-currency products

To support international pricing, add multiple pricing plans to a single product, one per currency. Each plan has its own tier structure and pricing logic, allowing you to set region-appropriate pricing rather than relying on currency conversion. Navigate to the Product Details page and click Add Pricing Plan again. Select the new currency and configure the plan independently.

​

Deactivating a product

Set the product’s Status to Inactive to remove it from the catalog. Inactive products are hidden from reps during quoting but remain in the system. Existing quotes and contracts that reference the product are unaffected. To reactivate, set the Status back to Active.

---

​

How products connect to other price book elements

Products don’t exist in isolation. Here’s how they interact with the other components in your price book: Categories organize products for catalog navigation and can be used as criteria in pricing rules (e.g., “require a shipping fee when a Hardware product is added”). Custom fields and filters control which reps see which products, and carry metadata through to quote lines for reporting. Units of Measure define the label for what’s being counted (e.g., “Per User”, “Per GB”). UOMs can be shared across a category or unique to a single product. Data Sheets provide reference data that pricing formulas and floors can look up at calculation time (e.g., a regional pricing matrix). Deal Components define the billing frequencies available for the product and carry contextual data to quote lines. Rules enforce guardrails: validation rules prevent invalid configurations, pricing rules adjust calculations automatically, and approval rules route quotes for review based on discount thresholds or product combinations.

---

​

What’s next