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A Pricebook is a list of products and their associated prices. Each product and its price is called a Pricebook entry. The Price book will provide a list of the products and the different prices for the products. Salesforce will provide standard and custom price books, making it easy to have multiple prices for a product.
In other words we can say that sometimes your prices for products will differ per customer – it can depend on who is buying, when they are buying, or in what quantity. To accommodate this flexibility, a Product can exist in Salesforce with many different associated prices, using a feature called Price Books and Price Book Entries.
A Product can exist in multiple Price Books, for every different price on offer to a customer. The combination of the Product and the price together is what we call a Price Book Entry. Price book is divided into two parts:
1. Standard Price Book:
The Standard Price Book is the full list (i.e. the master list) of all the products and services your company sells. It is already present and new products can be added to it using the related list present at the product’s detail page.
2. Custom Price Book:
These are additional Pricebooks created as per the requirements of the company. The price for each Product in
the Custom Price Book may be different from the price in the Standard Price Books. The price for the same
Product in each Custom Pricebooks does not need to be the same – it can vary from one Custom Price Book to
another.
Note:
Price books are represented by Pricebook2 objects. As of API version 8.0, the Pricebook object is no longer
available. Requests containing Pricebook are refused, and responses don’t contain the Pricebook object.
A common use of this object is to allow your client application to obtain valid Pricebook2 object IDs for use when configuring PricebookEntry records via the API.
These objects are defined only for those orgs that have products enabled as a feature. If the org doesn’t have the products feature enabled, the Pricebook2 object doesn’t appear in the describeGlobal() call, and you can’t access it via the API.
If you delete a Pricebook2 while a line item references PricebookEntry in the price book, the line item is unaffected, but the Pricebook2 is archived and unavailable from the API.
See the scree which lets you create PriceBook:
Important Fields:
Active If checked, then the pricebook is available to users for adding a product to a opportunity otherwise not.
Description Description about the Price Book.
PriceBook Name Displays the name of the PriceBook.
Is Standard Price Book Is a check box which tells if its using the standard Price book or not.
Associated Objects:
This object has the following associated objects. If the API version isn’t specified, they’re available in the same API versions as this object. Otherwise, they’re available in the specified API version and later.
Pricebook2ChangeEvent (API version 48.0)
Change events are available for the object.
History is available for tracked fields of the object.
Find the Relationship of related objects of the Pricebook.
