Creating Index Formulas

Once you have created your list of Indexes, it is time to input the formulas or calculations that will determine your pricing. We call these Index Formulas.

To enter a new Index Formula:

1. Navigate to Pricing > Index Formulas and click the New Formula button that appears in the top right corner. 
2. Select the name of the Index that this calculation will be based on from the drop-down menu. 
3. A formula can be entered using one of two Formula Type calculation methods:

• Fixed - This is a fixed dollar amount to be added to or subtracted from (use - to indicate a reduction in price) the Index selected. Enter the amount in the Charge field.
• Percentage - This is a numeric percentage value by which you will alter the index (use of - is permitted). Enter the percentage in the Discount field. You may also use the Charge field, if applicable. If the percentage factor should be applied before the charge that has been entered, check the box labeled 'Apply % Factor Before Charge' otherwise leave this unchecked.

4. Use the Min Price field to set a floor price or a price below which the price should not fall. If a negative price (or charge) is permitted, enter a negative floor price in the Min Price field.

5. Click Save Changes to add your new formula.

The final step in the setup process is to enter the monthly Index Prices.

f you have additional questions, please contact the Support Team via email to  support@cietrade.net.