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Products and Price Books Overview

About

Products and Price Books are great for businesses that offer multiple items or services and sell them at varying prices. Products and Price Books are available on Enterprise plans.

In this Article

How Do Products and Price Books Work?

Products and Price Books are used to keep a record of the prices of your goods and services. You can set up multiple Price Books to reflect discounts or Product availability. Once your Price Book has been created, you can start adding Products. You can also create new Price Books by cloning Price Books you've already created.

Important Details

  • You can only set one currency per Price Book. You cannot edit the currency once it has been selected. However, you can use different currencies with other Price Books.
  • Price Books can be edited, but they cannot be deleted once they are associated with a Quote or an Opportunity.
  • You can edit Products, but you cannot delete them if they are associated with an Opportunity or a Quote.

Products

Products are the goods and services sold by your business. Users can create a Product record for every item or service their business offers and assign it a price.

How to Create a Product

Users can create a record for every product or service your business offers and assign it a standard price. Your admin will need to enable Products, Price Books, and Quotes first. Your Product will be automatically added to the Standard Price Book and can be added to any custom Price Books you create.

  1. Select Products from the navigation bar. Click New Product.
  2. Enter your Product's details.
  3. Check or uncheck the Active checkbox.
    1. The Active checkbox is checked by default.
  4. Click Save.

How to Edit a Product

Users can edit their Product's details at any time. To limit how much your users can edit the details of Products, admins can use advanced permissions, validation rules, or Page Layouts.

  1. Go to Products.
  2. Select a record to edit. Click the pencil icon in the upper right of the record.
  3. Edit your fields. Click Save.

Admins can select which fields will appear on the Related tab using Page Layouts. The Product record's Related tab can contain the following fields:

  • The number of Price Books this Product appears in
  • Add to Price Book
  • Add Price Book Prices
  • Grid list of Price Books associated with this Product
  • Grid list of Quotes associated with this Product
  • Grid list of Opportunities associated with this Product

Price Books

Price Books organize your Products into an itemized list. Price Books are used when building a Quote. Once the Quote’s Price Book is set, the user will be able to add Products to the Quote based on what’s available in the Price Book.

Standard Price Book

The Standard Price Book lists the prices that each of your Products are normally sold at. All Products are automatically added to the Standard Price Book when they are created, which records the default cost of each listing. You can add a Product to any custom Price Books and adjust the prices as needed.

If the List Price of a Product is changed in the Standard Price Book, it will update the price of that Product in all Price Books that have checked the Use Standard Price checkbox. If you navigate to a Product’s Related tab and select Edit Price Book Entry, updating the List Price will update all Price Books that have checked the Use Standard Price checkbox.

How to Create a Price Book

Insightly features a Standard Price Book that contains the prices that each of your Products are normally sold at. Users can also create additional Price Books to reflect discounts or other price adjustments. Administrators will need to enable Products, Price Books, and Quotes. Price Books can be edited, but they cannot be deleted once they are associated with a Quote or an Opportunity.

  1. Go to Price Books. Click New Price Book.
  2. Enter the name and description of your Price Book.
  3. Use the dropdown menu to select the currency.
    1. Users can edit the currency of Standard and Custom Price Books after they have been created. Changing the currency of the Standard and Custom Price Books will not change the values of any of the prices within those Price Books.
  4. Check the Active box.
  5. Click Save.

How to Clone a Price Book

Administrators can create new Price Books by cloning pre-existing Price Books.

  1. Open a Price Book. Click the Actions dropdown and select Clone This Price Book.
  2. Name the new Price Book. Click Save.

How to Edit a Price Book Entry

  1. Go to Price Books. Select a record.
  2. Go to the Related tab. Under the Products section, find the Product you need to edit.
  3. Click the three-dot menu across from the Product and select Edit Price Book Entry.
  4. To edit the price, uncheck the Use Standard Price box. Edit the List Price.
  5. If you need to deactivate the Product, uncheck the Active box.
  6. Click Save.

How to Edit the Prices of All Products

  1. Go to Price Books. Select a record.
  2. Go to the Related tab. Click Edit Prices.
  3. To change the List Price, uncheck the box next to the Standard Price of a Product. Edit your prices.
  4. Click Save.

Admins can select which fields will appear on the Related tab using Page Layouts. By default, the Price Book record’s Related tab can contain the following fields:

  • Number of Products in this Price Book
  • Edit Prices
  • Add Products
  • Grid list of Products associated with this Price Book
  • Grid list containing Field History

How to Add Products to Price Books

Users can add Products to their custom Price Books at any time. Any changes you make will not affect other Price Books. Products, like Price Books, can be deleted if they have not been associated with any Opportunities or Quotes. If they have been, you can only mark the Product as inactive and cannot be deleted. Make sure the Products you want to add are active or they will not appear as an option.

  1. Go to Price Books. Open the record you want to add to.
  2. Go to the Related tab. Under Products, click Add Products.
    1. Alternatively, click the Actions dropdown and select Add Products to Price Book.
    2. Users can also start from a Product record, click the Actions dropdown and select Add Product to Price Books.
  3. Scroll through the list or use the search bar to find specific Products quickly. To add a Product, click the checkbox to the left of the Product name.
  4. Only active products will appear in the Product list.
  5. Click Next.
  6. To change a Product's price, uncheck the box next to the Standard Price. Enter the new price in the List Price text box.
  7. Click Save.

How to Remove a Product from a Price Book

  1. Open your Price Book. Go to the Related tab.
  2. Find the Product you need to remove. Click the three-dot menu and select Delete Price Book Entry.
  3. A confirmation message will appear once you have successfully deleted the Product from the Price Book. This does not delete the Product record; it will only be removed from the Price Book.
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