What is the difference between Price and Price List Rate in the Item Price Doc?

After I import data from another ERP I find fields empty. What are price and Rate used for. I am using the Cloud hosted version. Thank you.

ERPNext uses the term Rate for price (except in the expression Item Price)

What is weird that the item price in my cloud instance (v10) looks much different then yours and does not have any field “Price”, just “Rate”.

The item Price form on your image looks more like a v11 item price, but the one I have on a test instance neither looks identical and neither has a field “Price”. Have you customized the Item Price Doctype/Form in any way?

Can you post the version you are on? (to be found under >help >about)

I have not made any changes. Also the template that gets downloaded with it has the price field too.

The price field is blank. What price goes in there? The selling price I uploaded is in the rate field.

my testserver is on v11.0.3-beta.35. Updating now and then look what we got

I believe the existence of a field “Price” there may be a bug

Frappe did say they had moved some of their cloud customers to V11 staging a month or two back

I’m aware of that and @herb seems to be one of them. However the Item Price on my local v11.0.3-beta.37 looks like below

no filed “Price” there. What also looks strange on @herb’s screenshot is that he does not have the chat icon on the upper right (which should be there on a v11 instance, but doesn’t exist on v10)

Would it be an idea (in order to rule out the excess “Price” field comes from any sort of customization) to go to >Customize Form >Item Price and click on the Reset to Defaults button and see what you got?

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Here it is. No customization.
What does chat do?

did you do the Reset to Defaults operation in >customize form >Item Price ?

There is an (internal) chat in v11 which lets you chat with other users. This is not related to your problem whatsoever I just mentioned it as an indicator that something with your v11 instance may not be quite right. Maybe your user just has no permissions set for the chat function and that is why there is no icon visible.

Yes I did the steps you suggested and posted the screenshot.

not really sure what to suggest now. The existence of the field does not make sense to me at all. It seems not to be mandatory so i’d

  1. leave it empty, use the “Rate” field
  2. keep an eye on whether this goes away upon any upcoming update (v11 is to be released officially Next Tuesday (2019-01-29) apparently, so there should be something happening around that time also for erpnext.com instances