Manage Negotiated Prices Using Customer Item Pricing in NetSuite

NetSuite’s flexible pricing structure allows businesses to customize item prices for different customers through Customer Item Pricing. This feature lets you assign specific prices to customers for particular items, overriding standard sales prices. In this blog, we’ll explain how Customer Item Pricing works, how to assign special pricing, and what happens during the sales order process when items with and without special pricing are involved.

What is Customer Item Pricing in NetSuite?

Customer Item Pricing enables you to set item-specific prices for each customer, which is crucial for businesses offering negotiated prices or customer loyalty discounts. By assigning tailored prices, businesses can ensure accurate pricing based on agreements or promotions.

How Does Customer Item Pricing Work?

Customer Item Pricing is managed within the customer record in NetSuite. Once set, the special price automatically applies when the customer orders that item, ensuring consistent and accurate pricing without manual intervention.

Assigning Special Pricing to Customers: A Step-by-Step Guide

1. Navigate to the Customer Record:
   • Go to Lists > Relationships > Customers and select the desired customer.
2. Access the Financial Subtab:
   • Within the customer record, click on the Financial subtab.
3. Add a New Pricing Rule:
   • Under the Item Pricing section, click New and choose the item. Then, set a special price by selecting a price level or entering a custom price.
4. Save the Record:
   • Save the customer record to apply the changes.

Example: Applying Special Pricing on a Sales Order

If “Customer A” has a special price of $75 for “Item X” (normally $100), NetSuite will automatically apply the $75 price on a sales order. Adding another item without a special price, such as “Item Y,” will result in the standard price being used.

Handling Items Without Special Pricing

When an item without a special price is added to a sales order, NetSuite defaults to the standard price, which could be the base price or a price level associated with the customer.

Key Takeaways

• Consistency: Special prices are automatically applied to all transactions.
• Efficiency: Automated pricing reduces the need for manual adjustments.
• Flexibility: Easily manage different pricing levels for various customers, supporting complex pricing strategies.

NetSuite’s Customer Item Pricing is a powerful tool for implementing competitive pricing strategies, improving customer satisfaction, and enhancing your bottom line.

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