In our Salesforce org, I added the products to the Standard price book. Later, we created a custom price book to set different pricing for different markets. In the price books, we wanted a few products to have standard pricing in all custom price books.
In the solution, I came to know that we can use the standard pricing of the product from the standard price book. With this, we can assign the same standard prices of products in multiple price books.
In this Salesforce tutorial, we will learn about the process to add standard price to a product in Salesforce.
Standard price in Salesforce
In Salesforce, the standard price is defined as the default price of the product that the organization sets. To sell a product, we need to add it to a custom price book. You must first define its standard price in the Standard Price Book.
The standard price is the original price of the product that we need to set for every product. Once the standard price is set, we can create different price books and assign the same product at different prices or use the standard price from the standard price book.
Using the Standard Price in the custom price books, we can manage the same values for a product in multiple price books. With this, every time we update the price in the standard price book, it will reflect the same price in the Custom price books using the standard price.
Add Standard Price to Product in Salesforce
In the examples below, I will explain the method to add a standard price to new and existing products by covering the points.
- Add standard price to the existing product in Salesforce
- Add standard price to the new product in Salesforce
Add Standard Price to Existing Product in Salesforce
To add a standard price to an existing product in Salesforce, navigate to the Setup page of Salesforce and follow the steps below.
- On the setup page, click on the App Launcher and search, then select Products.
- In the Products tab, select a product from the list to which you want to add a standard price. In this example, I will add a standard price to the product Installation:portable.
- Go to the related lists Price Books, and make sure that the product is already added to the standard price book. To add the standard price to another price book in another price book, click Add Standard Price.
- In the Price book, select the custom price for which you have to add the standard price of the product. Next, enter the standard List Price of the product, select the “Use standard price” checkbox, and then click Save.
Now, the standard pricing will be added for the product in the selected custom price book. With this, when you need to update the standard price for a product in a custom price book, you only need to change it in the standard price book.
This way, we can add a standard price to an existing product in Salesforce.
Add Standard Price to New Product in Salesforce
To add standard pricing to a New product, follow the steps below to create a product and add a standard price to it.
- First, we will create a custom product. To do so, go to the Products tab and click the New button.
- Enter the required details, such as Product Name, Product Code, and other fields. After this, select the Active checkbox and click Save.
- As we click Save, it will navigate to the product record page. Here, go to the related list Price Books and click Add Standard Price.
- First, we will add the product to the standard price book, and then we can use its standard price in custom price books.
- For this, select the standard price book in the Price book lookup field.
- Enter the standard price of the product in the List Price.
- Select the Currency and click Save.
- To use this standard price in the custom price book, again, click on the button Add Standard Price.
- Select the custom price book, and enter the list price as the standard price. After this, select the checkbox Use Standard Price and click Save.
Now the standard price value of the product will be added to the custom price book.
This way, we can add a standard price to a new product in Salesforce.
Conclusion
In this Salesforce tutorial, we have learned how to add a standard price to a Salesforce product and use it in another price book. By following the above examples, you can add a standard price to existing and new products in Salesforce.
In the above examples, after adding a standard price to the products, we also used that standard price for the custom price book. The primary purpose of adding a standard price is to use it directly in custom price books.
With this, every time you update the Product price in the standard price book, the same price will be reflected in the selected custom price book.
You may also like to read:
- Create Custom Price Book in Salesforce
- Add Product to Price Book in Salesforce
- Salesforce Date Formula Business Days
- Setup Products Schedule in Salesforce
I am Bijay Kumar, the founder of SalesforceFAQs.com. Having over 10 years of experience working in salesforce technologies for clients across the world (Canada, Australia, United States, United Kingdom, New Zealand, etc.). I am a certified salesforce administrator and expert with experience in developing salesforce applications and projects. My goal is to make it easy for people to learn and use salesforce technologies by providing simple and easy-to-understand solutions. Check out the complete profile on About us.
