Purchase Price (from Item Page on Vendor Line) vs Vendor Price (from Vendor Page on Item Line)

When managing vendor pricing in NetSuite, users often encounter two different fields:

1. Purchase Price from the Item Record (Vendor Sublist)
2. Vendor Price from the Vendor Record (Item Sublist)

This article explains the differences between these fields and how they impact purchasing transactions.

Key Differences

Feature Purchase Price from Item Record Vendor Price from Vendor Record Where it is found?Item Record → Purchasing/Inventory Tab → Vendors SublistVendor Record → Items TabHow is it used?Used when NetSuite determines the purchase price for an item during transactionsDisplays all items a vendor supplies and their corresponding pricesWhat does it represent?The purchase price specifically assigned to an item for a given vendorThe price a vendor has assigned to an item from their sideImpact on TransactionsIf preferred vendor pricing is enabled, this price may be auto-populated in POsCan be used for reference but does not always directly populate POsMultiple Prices?Yes, can have multiple vendors listed for an itemYes, can list multiple items a vendor provides

How NetSuite Uses These Fields in Transactions

1. Purchase Orders (POs):

• If an item has a preferred vendor, the price from the Item Record’s Vendor Sublist is used.
• If no preferred vendor is set, NetSuite may pull the price from the Vendor Record if configured correctly.

1. Vendor Record Considerations:

• If vendor price levels are set in the Vendor Record, they can override standard item purchase prices.
• Users need to ensure that price levels are correctly assigned if they expect a specific vendor price to apply.

Best Practices

• Always define a preferred vendor for each item to ensure proper price selection.
• Regularly review vendor pricing on both Item and Vendor records to maintain consistency.
• Use Saved Searches or Reports to compare and verify pricing differences.

Conclusion

Understanding the difference between Purchase Price on the Item Record and Vendor Price on the Vendor Record is crucial for accurate purchase order processing in NetSuite. Users should carefully configure pricing to ensure the correct values populate in transactions.