How to Update Inventory Pricing by a Percentage

You can use Rentopian's Inventory Update import with a few simple Google Sheets formulas to update pricing for many products at once.

In this example, we will increase existing rental prices by 5% and round the new prices to two decimal places before importing them back into Rentopian.

Start by downloading your current inventory data from Rentopian:

Before changing your prices, remove columns you do not need for this update. This makes the spreadsheet easier to work with and helps prevent accidental changes.

For this example, we are not changing:

We only need to keep the ID, Product Name, and Rental Price.

Important: Keep the ID column. The ID is what Rentopian uses to identify the correct inventory record when processing the update. Do not remove or change the ID values.

The Product Name is helpful for your reference so you know which product each ID represents. Changing the product name in this Inventory Update file will not update the product's name in Rentopian.

If you only want to increase products that already have a rental price, filter the Rental Price column and remove:

You can then copy the filtered inventory to a new sheet so you have a clean list of only the products you want to update.

Add a new column next to your current Rental Price and label it Increase.

To increase a price by 5%, use this formula:

=CurrentPriceCell+(CurrentPriceCell*5%)

For example, if the current rental price is in cell C2, the formula would be:

=C2+(C2*5%)

Google Sheets may offer to automatically fill the formula down the rest of the column. You can use this option to quickly calculate the new price for each product.

Changing the percentage: Replace 5% in the formula with the percentage you want to use for your price increase.

At this point, the spreadsheet displays your new prices, but the cells still contain formulas.

Before continuing:

This replaces each formula with its calculated number.

Once the new prices contain values instead of formulas, you can delete the old Rental Price column.

A percentage increase can create prices with more than two decimal places. Rentopian can accept additional decimal places, but you may want your prices to remain consistent with standard currency formatting.

Add another column and label it New Rental Price.

Use the ROUND formula to round the increased price to two decimal places:

=ROUND(PriceCell,2)

For example, if your increased price is in C2:

=ROUND(C2,2)

The 2 tells Google Sheets to round the number to two decimal places.

Google Sheets also provides other rounding formulas if you want your new pricing handled differently:

The New Rental Price column still contains formulas, so repeat the Paste Special process before importing.

Your spreadsheet should now contain the ID, Product Name, and final New Rental Price you want to import.

Before downloading: Make sure your final price column contains values instead of formulas and that the ID values have not been changed.

Download your completed spreadsheet so it can be uploaded to Rentopian.

CSV is a clean file format for importing data into Rentopian. You can also use an Excel file.

Return to the Inventory Update import in Rentopian and upload your completed file.

During the field mapping step:

Because we are only updating rental pricing in this example, there is no need to map or import fields such as quantity or sale price.

Processing time: The Inventory Update may take a few minutes to finish depending on the amount of inventory being updated.

After the import finishes, return to your inventory and confirm that your products show the new rental prices.

In this example, the final prices have been increased by 5% and rounded to two decimal places.

If you have questions about increasing your pricing with the Inventory Update import or need help updating your inventory, contact us at [email protected].