Source Price Information from Materials in NetSuite 2025.1

Starting in NetSuite 2025.1, pricing records can now source price amounts directly from materials in the NetSuite CPQ Configurator (version 1.7.0). This enhancement streamlines how prices are calculated, making it easier for businesses to manage pricing strategies based on item characteristics.

Understanding the New Sourcing Feature

With the new Source Price from Material field in pricing records, users can select a material to use its associated price. This selection allows the new pricing record to adhere to the rules defined for that specific material, which can be viewed and managed in the Material Rule field. This connection enhances consistency and accuracy in pricing, especially useful for configurable items that share common materials.

How Material Prices are Determined

The price of materials derives from their related item records. Therefore, businesses should ensure that all item records are thoroughly maintained and accurately reflect the current pricing structure. Key aspects include:

Material Selection: Users must select the appropriate material to ensure the pricing record aligns with business rules.
Material Rules: Understanding the rules tied to each material is crucial as they dictate how prices are adjusted or applied based on transactions.

Handling Multiple Prices and Currencies

For organizations utilizing multiple prices and the multi-currency feature in their operations, item records are structured to include price levels organized by currency. Here’s how it works:

Price Levels: Price amounts can be specified for each currency level directly in the item record.
Customer-Specific Pricing: The applicable price level and currency for the selected material will depend on the settings associated with the customer on the transaction. This feature supports businesses in delivering tailored pricing strategies for different clients and scenarios.

Best Practices

Always review material pricing rules to ensure they align with your current supply chain practices.
Maintain accurate item records with updated pricing levels to facilitate seamless price sourcing processes.
Regularly audit price configurations for various currencies to prevent discrepancies, especially in multi-currency transactions.

Who This Affects

Administrators: Responsible for managing item and pricing records.
Developers: Involved in customizing and integrating pricing functionalities.
Accountants: Must understand how sourced prices impact financial reporting and transaction integrity.

Key Takeaways

New functionality in NetSuite 2025.1 allows pricing records to pull from materials directly in CPQ Configurator.
Pricing rules tied to materials help maintain accuracy in pricing strategies.
Multi-currency support aids in managing diverse customer pricing effectively.
Proper maintenance of item records is critical for leveraging this new feature effectively.
Administrators and developers should align pricing configurations with business objectives to optimize inventory management.