• First, it's good idea to ensure the important Price Book Entry related fields are available on your layout. While there are more fields, these key fields are the most important. An * asterisk designates it is very important to ensure you have selected the correct value.
  • Admin Only*: Only allows an Admin to quote this product. End users can manipulate once added.
  • Annual Price*: Use if the recurring product's price is entered as the annual value.
  • Bundle Only*: This designates if the product can only be added through a bundle and will not be available as a stand alone product in the product entry screens.
  • Exclude from Renewals: If this is checked, this product will not be added to the future renewal.
  • Lock Item: If this is checked, it will lock the users from updating the Quantity or term from the "default" values.
  • Lock Price: If this is checked, it will lock users from being able to update the Sales Price or Discount.
  • Lock Quantity: This will lock quantity only. Useful for setting items that can only have a quantity 1 purchased.
  • Percentage Based Products: See Details on setting up percentage based products.

• Click “Add” on the Products related list from the price book.
• Browse through the list and check the box next to any products that need to be added to the price book.
• Once you have made your selections, click “Select”

Assigning Prices to the Products in the Price book

• For the list of products you selected, you can now add the price of the product for this specific price book.
• Enter the List Price (Be sure to enter it correctly for Recurring vs Non-Recurring) and click “Save” when complete.
• The next steps will allow us to enter additional price book entry specifics to the product.
• If specific products need to be locked to a fixed term or quantity, or only sold in a bundle, browse to your price book view and click “Edit” next to the product. 

NOTE: For more info on Price Book sharing, see this article.