The NetSuite Multiple Prices feature allows you to set different prices for individual items and services. Let’s take a look at the Multiple Prices feature, including what it is, how to set it up, and how to use it in NetSuite.
NetSuite Multiple Prices Overview
What are some of the use-cases for multiple prices? Some companies may sell items both retail and wholesale. Using the NetSuite Multiple Prices feature, it would be simple to set up a wholesale price and a retail price for each of your items. Other companies may want to set up a custom price for specific customers. These are just a couple of the situations in which the Multiple Prices feature would be necessary.
How to Set Up NetSuite Multiple Prices
Let’s take a look at how you would set up the NetSuite Multiple Prices feature.
Enable the Feature
First, you will need to enable the Multiple Prices feature. You can find this feature in the Sales section of the Transactions tab in Enable Features.
Create Price Levels
Your next step is to create the different price levels that you will use. NetSuite allows you to set as many as 1,000 different pricing levels, though most companies would not find that many levels useful or necessary. To create a new price level record, navigate to Setup > Accounting > Setup Tasks > Accounting Lists > New. On the Accounting Lists page, select Price Level from the list.