The NewGen NetSuite Purchase Price History Tracking adds functionality for tracking changes made to item purchase prices. This feature allows organizes to meet compliance requirements or provide an additional layer of security and assurance around item pricing internal controls.
This feature provides a means by which changes to vendor prices on an item record after original creation requires a confirmation and a reason in order allow the change. Users push a button displayed on an item record to bring up a form to define the changes. Upon save of the form a record of the change, including old price, new price, date, reason, and the user who committed the change, will be created an attached to the item record and will act as a history of when prices were changed, by who, and why.
The functionality also has a settings record which allows users to define whether the functionality is currently enabled, and which roles have access to editing item base prices.