If you are new to using NetSuite, you might have learned that the simplest way to establish item prices is by creating price levels. However, it’s important to understand that price levels in NetSuite do not provide a default method for setting up prices based on cost. Instead, NetSuite price levels are based on a base price. When you set up a price level, you can only choose to set a markup or discount of the base price.
Unfortunately, to create a price list based on cost in NetSuite, you need to use a workaround. There are several methods to achieve cost-plus pricing, but these are the three most common.
- Set the Base Price of an item equal to its cost. However, without some form of automation, it can be quite challenging to maintain and might not be sustainable in the long run. This option may work if you only have a few items that you need to price based on their cost.
- Mass Updates: You can periodically export your items and costs to Excel, calculate the costs, and reimport them as new price levels.
- Scripting: Scripting will automate the process and ensure prices are updated on a timely basis. If you have a lot of products and require timely updates, using a script could be the best solution for you.
In summary, while cost-plus pricing is not a native NetSuite feature, there are viable alternatives to achieve the same results.