Advanced Pricing and the Item Record

When Advanced Pricing is enabled, item records include additional pricing fields and pricing grid behavior. These changes appear under Pricing on the Sales/Pricing subtab.

Item Record Pricing Changes

When you view an item record, the pricing grid includes the following changes:

A Price Rule column is added.
The Default Discount % column is renamed Pricing Method.
The Pricing Method column shows whether a price level uses discount or markup pricing, Average Cost, or Cost for Pricing as the basis for Cost+ pricing.
A Cost for Pricing field is added.

Use the Cost for Pricing field to enter a custom cost for pricing calculations. This field is useful for items that do not have a standard cost or that have frequently changing costs.

Cost+ Pricing Methods

Advanced Pricing supports Cost+ pricing at the price level.

When you create or edit a price level, you can choose one of the following pricing methods:

Markup/Discount - Uses existing discount and markup options.
Cost+ - Uses a selected cost basis and an associated markup or discount percentage.

For Cost+ pricing, you can use one of the following cost bases:

Average Cost - Uses the system-calculated average cost.
Cost for Pricing - Uses the custom cost entered on the item record.

Pricing Grid Behavior

In edit mode, if you change the value in the Cost for Pricing field, NetSuite updates prices for price levels that use Cost for Pricing as the cost basis.

For price levels that use Average Cost as the cost basis, click Refresh Prices to update prices when the average cost has changed.

After you save the item record, the pricing grid reflects the updated prices.

Pricing Formula Display

When Advanced Pricing is enabled, pricing formulas are displayed differently on item records. For example, a formula such as - 10.0% is displayed as Base price - 10.00%.

This display change also affects how formulas are handled in SuiteScript and REST.

Currency Conversion

If an item is sold in multiple currencies, NetSuite calculates prices for each currency by using the corresponding exchange rates on the Currency Exchange Rates record.

If the cost basis and price level use different currencies, NetSuite converts the cost to the price level currency. To help ensure accurate prices, keep currency exchange rates up to date.

For more information, see Currency Exchange Rates.

AI-Generated Pricing Summary

If the Narrative Insights feature is enabled, a Generate Summary button appears on item records. Click this button to view an AI-generated pricing summary in a popup window.

For more information, see Advanced Pricing Narrative Insights.