How to Add Standard Price to Product in Salesforce

In this Salesforce tutorial, we will learn how to add a standard price to the product in Salesforce. However, we will understand the steps of adding a standard price to the product in Salesforce Lightning

The standard price is defined as the default price of the product that is set by the organization. The standard price for a product can be put on the product record and this type of price can be used in the price book which is the group of the products of their related prices that are provided to the customers.

Recently when we were working with the product object in an organization that uses Salesforce. I got a task where I need to add the standard price to the product in Salesforce. So, to fulfill this requirement I use the Add standard price functionality of Salesforce.

If you want to learn how to add the standard price to the product in Salesforce Lightning, you have come to the right place. Read the complete blog carefully.

The following are the topics that we will cover in this salesforce tutorial:

• What is the standard price in Salesforce?
• Add Standard Price to Product in Salesforce
• How to add a standard price to the product in Salesforce Lightning

What is the standard price in Salesforce?

In Salesforce the standard price is defined as the default price of the product that is set by the organization. It is a master list of all our products and default standard prices. When we make a standard price book. the product record the salesforce starts making the standard price book.

The standard price for a product can be put on the product record and this type of price can be used in the price book which is the group of the products of their related prices that are provided to the customers.

The standard price book can contain all the products with their standard prices of some custom price books which involves the products.

We can create a product record and a standard price book entry and we can also mark the price entry as active or non-active.

With this, we learned What is standard price in Salesforce. Now we will move ahead and try to understand adding the standard price to the product in Salesforce.

Add Standard Price to Product in Salesforce

For adding a Standard price to the product, the first thing is, we need a product that we have already created in our previous blog How to Create Products in Salesforce. So we don’t need to create it again. Here we just need to select the product and add the Standard price to it.

As we already know the price book is used to control all the products and their pricing at a particular place.

There is a Standard price book that is similar to a master book for all of our products and their pricing and we can also make an extra price book to control the prices for market segments.

With this, we learned to add the Standard price to the product in Salesforce. Now we will move ahead and try to understand how to add the standard price to the product in Salesforce Lightning.

Read How to Create Products in Salesforce

How to add a standard price to the product in Salesforce Lightning

Here we are adding the standard price to the product in salesforce lightning. If you want to learn how to add the standard price to the product in salesforce lightning follow these steps:

Step-1: Firstly login to the Salesforce lightning account. Go to the App Launcher, enter the Products in the search box, and select the products that come at the top after searching.

Step-2: After selecting the products, the products recently viewed page is open. Two products are present with their product name, product class, product code, product description, and product family.

Step-3: Here click on the drop-down arrow of the product recently viewed, the list view of the products is open. Two open are present in the list view. The first is All Products and the second is Recently Viewed. For seeing all products click on the All products option.

Step-4: After clicking on all products, the all products page is open, and here you can see that lots of products are present. We can select one of the products from all products. Here we are selecting the Bucket 5gal white product.

It also contains the product class, product code, product description, and product family.

Step-5: After selecting the product, the Bucket 5gal white product page is open, and the details of the Bucket 5gal white product are shown but we want to see the related item. Click on the related option that is present near the details option.

Step-6: After clicking on the related tab, the related list item is shown. There are two items present under the related tab Price book and approval history. Under the Price Book section, there is an Add Standard price button. Click on the Add standard price.

Step-7: After clicking on the Add Standard Price button, the New Price Book Entry page is open. Select the Product and after that select the Price book and then enter the List price and then click on the active checkbox and the click on Save button.

Step-8: After clicking on the save button, we can see that the price book name Bucket 5gal white and List Price as $5000.00 are added to the Use standard price in Salesforce. We can also add lots more to the standard price like this.

In this way, we have learned how to add the standard price to the product in salesforce lightning.

You may also like to read:

• How to Create Custom Price Book in Salesforce
• How to Add Product to Price Book in Salesforce
• Salesforce Date Formula Business Days
• How to Setup Products Schedule in Salesforce

Conclusion

In conclusion, we have learned how to add the Standard price through the Add Standard price button that is present under the price book section in Salesforce.

Moreover, we have learned how to add the standard price to the product in Salesforce Lightning which provides us with a simple procedure for adding the standard price to the product.

And in addition to this, the following are the topics that we have discussed:

• What is the standard price in Salesforce?
• Add Standard Price to Product in Salesforce
• How to add a standard price to the product in Salesforce Lightning