Set the reference price for products

You can now choose the type of reference price you prefer to analyze price changes by product.

1. Open a product page and click the Edit button.

2. Choose the type of reference price you want to use to calculate the price variation.

1. Custom amount. Define the reference price you pay for that product yourself. We will show the variation between the product's last price and the custom amount you added.
2. Last purchase price. haddock aligns the reference price with the price on the product's latest invoice.
3. Weighted average price. haddock calculates the average price obtained within the period you select.

PRACTICAL CASE | WEIGHTED AVERAGE PRICE

We have a fruit shop that buys 1,000 🍋 at a price of 0.5€ per 🍋. Imagine it later buys 500 🍋 at 0.6€ per 🍋. In total, 1,500 🍋 have been purchased during the period.

First, we multiply the number of 🍋 by their purchase price (1,000 x 0.5€) and (500 x 0.6€), add everything together, and get 800€.

Now we divide by the total price of the 🍋 and the total quantity of 🍋 we have to obtain the weighted average price.

​

WAP = 800€ / 1,500 = 0.53€ per 🍋

In other words, each 🍋 will have a weighted average price of 0.53€.

3. You will see the price variation by product based on the reference price you have set.

Updated on: 23/04/2026