Creating Price Books
After you save a subscription plan, you can create pricing for the items. A price book defines the pricing for a collection of items or services that are sold as part of a subscription plan. Every item on a subscription plan must be assigned to a price plan within the price book. A subscription plan can have one or multiple price books. You can use multiple price books to create different pricing options, such as multiple currencies, or monthly, quarterly, and annual pricing.
A subscription plan and price book are not required when creating a subscription using the standard form. You can create a subscription using only add-on item lines, which reduces the complexity of creating a subscription. To learn how to create a subscription without a subscription plan or price book, see Optional Subscription Plan and Price Book.
To learn how to set up a subscription plan and price book in NetSuite, view the video:
For high-level overview diagrams of the workflows that include this procedure, see Subscription Plan Creation, New Stand-Alone Subscription Creation, and Subscription Creation from a Sales Order.
When you renew to a new subscription, you can select the renewal plan and price book. Refer to Adding Renewal Information to Subscription Plans to learn how the default from subscription populates the renewal. After renewal setup is complete, your settings affect any new subscriptions created with this plan.
To create a price book:
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On the saved subscription plan record, click the Price Books subtab. This subtab opens by default after you save a subscription plan.
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Click New Price Book.
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On the price book record, in the Name field, enter a name for the price book.
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From the Currency list, select the appropriate currency.
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On the Price Book Lines subtab, in the Edit column, click the edit icon for an item to make its price plan. For instructions on making price plans, see Creating Price Books.
Note:You must complete a price plan for every item before you can save the price book. Complete the required fields on the price plan, and then click Save to return to the price book record.
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From the Interval list (if showing), select the time period to set the duration of the interval. You can choose Day, Week, Month, or Year.
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In the Start On field, enter a number for when the interval begins.
For example, you set the Interval to Month and the Start On field to 1 (one). The interval runs from month 1 until the end of the term. If you create a subscription from this plan, NetSuite converts the relative dates to real dates based on the subscription start date. If you set the start date of the subscription to January 1 and the Start On field to 1, the interval starts on January 1.
Example: The following example price book, AAA Basic Plan Pricing, has currency in US dollars. The items associated with the price book include a one-time item, a recurring item, a usage item, and a commit plus overage item.
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(Optional) In the Included Quantity Multiplier column, enter a number. For more information, see Creating Usage Records.
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(Optional) If you want to enter a default discount, enter the discount in the Discount column.
You can enter a discount as a percentage or as a flat rate discount. To enter a percentage discount, include the percentage sign (%) after the positive number you enter in the Discount field. Flat rate discounts do not need a notation.
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From the Charge Frequency list, select Weekly, Monthly, or Annually.
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Unless the item is a one-time item, select a number from the Repeat Every list for how often you want the charge to occur.
For example, if you want to charge monthly, select a Monthly from the Charge Frequency list and enter 1 in the Repeat Every field.
Example: The following example shows a basic price book with tiered pricing (line 1) and volume pricing (line 2), charge frequency, and recurrence. Notice that no discounts are included in the following price book example.
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From the Prorate By column, select Month or Day.
Tip:Prorate By Month creates a rounded charge for the billing period. For example, a 12–month subscription costs $12,000 that is billed monthly. If you select Prorate By Month, the charge for each month is rounded to $1,000. However, if you select Prorate By Day for the same subscription, the monthly charge varies from $920.55 to $1,019.18 depending on the number of days in the month.
Example: When you enable proration for an item, NetSuite creates charges based on the number of days or months in the charge period. The default Prorate By setting for all recurring items is Day.
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Repeat all of the previous steps for each price book item until all have pricing information.
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Click Save.
Time-Based Pricing
Use the Time-Based Pricing feature to create pricing models that have planned pricing changes over time, also known as interval pricing models. Examples include free trials, ramp pricing, and introductory pricing. You use Time-Based Pricing to create intervals for price, quantity, or discount changes over time.
You can define how charges are calculated for time intervals during a subscription's term. For example, you offer a one-year subscription with an introductory pricing plan. A reduced price applies for the first three months and full price applies for the last nine months of the subscription’s term. To set up this price plan, you add an interval for the item and set it to start on the fourth month without a discount.
For instructions on enabling Time-Based Pricing, see Enabling SuiteBilling Features.
To learn how to create a subscription plan, price book, and price plans with Time-Based Pricing in NetSuite, view the video:
If you use the SuiteBilling Enhanced UI SuiteApp (formerly called the Time-Based Pricing SuiteApp) with the Time-Based Pricing feature, see Subscription Billing Enhanced UI.
Creating Intervals for Time-Based Pricing
You can apply a single price interval to all items on a price plan at one time, or you can define different price intervals for each item.
You also can use the Time-Based Pricing feature to add a price interval to all items in the price book and subscription level.
Before creating a price interval, you must have a subscription plan, price book, and price plan. See Creating Items for Subscription Plans, Creating Subscription Plans, and Creating Price Books.
The following example shows a subscription that includes two subscription line items, each with two price intervals. For each item, the new price takes effect in the 4th month.
To create a price interval, you must configure the price plan as described in the following procedures.
Adding a Price Interval to All Items at One Time
You can simultaneously add a price interval to all items in a subscription plan.
To add a price interval to all items in a subscription plan:
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From the subscription plan on the Price Book subtab, click the edit icon for an item. The price plan window opens.
Note:Items set up for one-time pricing cannot have more than one price interval.
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Click Add Interval to All to add a price interval to all items at one time rather than creating separate price intervals for multiple individual items.
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Edit the price, discount, or quantity for the new price interval. For example, to create a price interval that starts after the subscription start date, change the Start On value.
Note:Price interval items that are located next to each other must be unique. If you have two identical adjacent price intervals, NetSuite combines the items from each into one price interval.
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Click Save to save the intervals in your price plan.
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When you have completed configuring the price interval for all items, click Save to save the price book. The Interval and Start On columns appear on the price book, as shown in the following image. For information about these columns of the price book, see steps 6 and 7 of Creating Price Books.
Adding a Price Interval to a Single Item
You can add a price interval to one subscription plan item at a time.
To add a price interval to a single item in a subscription plan:
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Select the item with the price plan you want, and click Make Copy.
Tip:When you copy a price interval, you save the effort of completing all the fields that a new price interval requires. For example, if you have tiered pricing and do not want to recreate the tiers for each new price interval.
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Click the edit icon for an item. The price plan window opens.
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Edit the price, discount, or quantity for the new price interval. For example, to create a price interval that starts after the subscription start date, change the Start On value.
Note:Price interval items that are located next to each other must be unique. If you have two identical adjacent price intervals, NetSuite combines the items from each into one price interval.
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Click Save to save the intervals in your price plan.
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Repeat steps 2–4 for each subsequent item in the price book.
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When you have completed configuring all intervals, click Save to save the price book. The Interval and Start On columns appear on the price book, as shown in the preceding image. For information about these columns of the price book, see steps 6 and 7 of Creating Price Books.
Pass-Through for Time-Based Pricing Intervals
When Time-Based Pricing is enabled, you can use pass-through for time-based pricing intervals. Pass-through occurs when a change order is created between two time-based pricing intervals and a field or fields that the change order changes do not differ between the two time-based pricing intervals. Pricing intervals that take effect after the change order and do not change the same quantity, discount, or price field(s) as the change order can pass through and update the time-based pricing interval with the new value(s).
Pass-through on time-based pricing intervals reduces manual effort because you do not have to create multiple change orders to update the pricing intervals. Pass-through on time-based pricing intervals also makes intervals more consistent.
Example:
Here is a subscription with a 12–month term, activated on July 18 with the following time-based pricing intervals:
A change order is created and effective on August 1 that changes the quantity from 1 to 2. This change passes through and updates all consecutive time-based pricing intervals that had the same quantity value as the one changed. The new pricing intervals are as follows:
Deleting a Price Interval
You can delete a price interval from a price book even if a subscription has been created using that subscription plan. You can delete a price interval when the subscription plan item is in the Draft status.
To delete a price interval:
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Select the price interval you want to delete.
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Click Remove.
Setting Up Standard Pricing
If you have the System Administrator role, you can set up standard pricing that other users cannot modify.
To set up standard pricing that other users cannot change:
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Grant access permission to a subscription process with the following restrictions:
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Limit the number of users who can edit the subscription pricing.
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Reduce the permissions to edit a specific price plan, subscription change order, or price book.
When you restrict access, users with roles other than System Administrator can change a subscription item discount or quantity but not the price plan unless they have price plan permissions. For instructions on how to grant roles the access permission to a subscription process, see Setting Permissions.
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To learn SuiteBilling change order fundamentals, see SuiteBilling Change Orders.
Copying a Price Book
You can copy a price book to save effort in filling out all the fields for a similar price book. For example, you might want to copy a price book when creating pricing books for different currencies.
To copy a price book:
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Open the price book record you want to copy.
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From the Actions menu, select Make Copy.
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Edit the copy with any needed changes.
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Click Save.
Deleting a Price Book
You can delete a price book that has not been used to create any subscriptions.
To delete a price book:
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Open the price book record you want to delete.
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From the Actions menu, select Delete.