A price matrix is a collection of formulas that calculate the price of a product based on different purchasing scenarios. For example, if you want all contractors to pay 10% less than the list price each time they purchase a product from your Cabinets product line, you can set the formula to calculate that 10% discount automatically when a sales order or sales quote is generated.

You may update these formulas at any time, provided you have the correct access level.

- If you want to learn how prices matrices work using real world examples, see Understand real world sales price matrix scenarios.
- Once you know how they are applied. you can learn how to Create a price formula in the matrix, and then Update or delete a price formula in the matrix.
- You can also use prices matrices to set net pricing for customers, contracts, and vendors as well as set future pricing. See Enter a net price in the price matrix and Force a future price update.