Products and Price Books are great for businesses that offer multiple items or services and sell them at varying prices.
Plans
Definitions
How do Products and Price Books work?
Use cases
Important Details
Learn more
Plans
Products and Price Books are available on Enterprise plans.
Definitions
Products - Products are the goods and services sold by your business. Users can create a Product record for every item or service their business offers and assign it a price.
Price Books - Price Books organize your Products into an itemized list. Price Books are used when building a Quote. Once the Quote’s Price book is set, the user will be able to add Products to the Quote based on what’s available in the Price Book.
Quotes - Use Quotes to give Prospects detailed, itemized summaries of your fees. Quotes are essential to clearly communicating with your customers and closing the deal.
How do Products and Price Books work?
Products and Price Books are used to keep a record of the prices of your goods and services.
You can set up multiple Price Books to reflect discounts or Product availability. For example, if you have Products that cannot be sold in a specific region, you could create a Price Book that omits those Products.
Once your Price Book has been created, you can start adding Products. You can also create new Price Books by cloning Price Books you've already created.
Standard Price Book
Your Standard Price Book lists the prices that each of your Products are normally sold at.
All of your Products are automatically added to your Standard Price Book when they are created, which records the default cost of each listing. You can add a Product to any custom Price Books and adjust the prices as needed.
If the List Price of a Product is changed in the Standard Price Book, it will update the price of that Product in all Price Books that have checked the Use Standard Price checkbox.
Likewise, if you navigate to a Product’s Related tab and select Edit Price Book Entry, updating the List Price will update all Price Books that have checked the Use Standard Price checkbox.
Product Related tab
Admins can select which fields will appear on the Related tab using Page Layouts. The Product record's Related tab can contain the following fields:
The number of Price Books this Product appears in
Add to Price Book
Add Price Book Prices
Grid list of Price Books associated with this Product
Price Book Name (Hyperlinked)
List Price
Use Standard Price checkbox
Active checkbox
Grid list of Quotes associated with this Product
Quote Name (Hyperlinked)
Opportunity Name (Hyperlinked)
Subtotal
Total Price
Expiration Date
Grid list of Opportunities associated with this Product
Opportunity Name (Hyperlinked)
Organization (Hyperlinked)
Opportunity Value
Forecast Close Date
Price Book Related tab
Admins can select which fields will appear on the Related tab using Page Layouts. By default, the Price Book record’s Related tab can contain the following fields:
Number of Products in this Price Book
Edit Prices
Add Products
Grid list of Products associated with this Price Book
Product Name (Hyperlinked)
Product Code
List Price
Active checkbox
Grid list containing Field History
Changed Date
User
Changed Values
Application
Operation
Use cases
Say you wanted to expand your business to other countries. You can offer a discount to customers located in different regions as an incentive to gain their business.
Create Price Books with different currencies for different regions. By doing this, you can present a Quote to a customer that reflects the standard currency in their country. For example, one Australian Price Book, one Canadian Price Book, and one Japanese Price Book.
If you have sales reps who consistently offer discounts or sell below cost, use a Price Book to set a standard price for all Products and prevent users from sending Quotes with discounts without manager approval.
Important Details
You can only set one currency per Price Book. You cannot edit the currency once it has been selected. However, you can use different currencies with other Price Books.
Price Books can be edited, but they cannot be deleted once they are associated with a Quote or an Opportunity.
You can edit Products, but you cannot delete them if they are associated with an Opportunity or a Quote.
Learn more
Read these articles to learn more about Products and Price Books: