In NetSuite, Price levels are used to manage pricing for different segments. Setting up multiple price levels enables us to have greater flexibility to set different pricing for different customers. This allows the offering of discounts, promotions, or special prices to specific customers or customer segments.
We can set up a maximum of 1,000 price levels. We can update the amount for each price level in the item record under the sales/pricing tab
We can also add an amount that is not in the price level by selecting custom in the item line for each item.
To enable multiple pricing:
Go to Setup > Company > Enable Features.
Click the Transactions subtab.
Under sales heading check the Multiple Prices box.
Click Save.
To create a new price level:
Go to Setup > Accounting > Setup Tasks > Accounting Lists > New.
Click Price Level.
On the Price Level page, enter a name in the Price Level field.
This name should describe the price level you are creating.
In the Markup/Discount % field, optionally enter a positive or negative percentage to mark up or discount prices for this price level.
Prices for this level are calculated by applying the positive or negative percentage to the Base Price level.