Price lists are containers of price list items. Price lists can also have a currency set if your environment is multi-currency enabled.

Price lists are associated with categories so that an end user can view and select products from the shopping cart. For example, Price list A is associated with Category B, when you select price list A on the Quote/Proposal Edit page, only category B and associated products are displayed in the shopping cart.

You can create a price list at any time; however, it is most efficient to create a price list before creating products to easily associate the products with the price list.