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The Price Books feature allows to have different prices for one product. A Price Book record contains prices for multiple products. Moreover, it can contain different prices for a single product: actual for a specific date period or quantity.
A Price Book can be associated with a specific Account. Note that the administrator needs to add the Price Book field to the Detail layout of the Account entity type to be able to associate accounts with price books.
Quotes have a Price Book field. When a new record (quote) is created, the Price Book is carried over from a related Account. It’s possible to change the Price Book for in a specific order.
A Price Book can have a Parent Price Book and so on. If there’s no price found for a specific product in a Price Book, then the system will look up the price in the Parent Price Book.
The Default Price Book can be specified at Administration > Sales Pack (Settings). It will used to fetch default prices when there’s no Price Book associated with an order.
When a product is added to an order and there’s no price found in a related Price Book or there’s no related Price Book, the Default Price Book will be used. If there’s no Default Price Book, the price from the Product record will be used.
When a user changes the quantity of an order line, the system will look up the new unit price for that quantity. If there’s such, it will prompt the user to apply the new unit price. The user can reject and leave the previous price.
The Inventory Management feature allows to track product qantities, location in warehouses, transfers between warehouses, a purchase and sales history. It allows to validate product availability before selling it to a partner.
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