A pricing element consists of a pricing variable, an amount, and a payment type. Pricing elements can be either charges or adjustments.
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Charges assign a base price or override a base price.
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Adjustments modify a base price by a percentage or an amount.
When you create a price list entry and you don’t see the price you need in the list of prices with their currency and types, you must create a new pricing element.
Note
If you need to set up pricing elements for usage-based pricing for energy, see Usage-Based Pricing for Industries CPQ. To enable usage-based pricing, you must complete a set of steps in a specific order.
- Create a Pricing Element Charge or Adjustment in the Pricing Designer
A pricing element has a one-to-one association with a pricing variable and defines the actual price or a reference to a pricing matrix which will be used to calculate the price during runtime. Pricing elements are reusable and can be attached to more than one product through the price list. - Enable Additional Decimal Places in Calculations
To enable multiple decimal places in usage-based pricing, you must change the cpq-base-grid template. The changes applied to the grid template apply to all its child templates. Additionally, this template sets the correct decimal separator based on the customer location and currency and displays the appropriate decimal separator when calculating the Monthly Recurring Charges (MRC) and Non-Recurring Charges (NRC). - Enabling Base Pricing Adjustments in Repricing
If you have existing orders, opportunities, quotes, or assets that need base pricing adjustment records, you can run the repricing service with the CreateBaseAdjustment parameter set to True in batch, and the repricing service used the pricing log to create new base pricing adjustment records for you.