Explain the CPQ pricing waterfall from regular price to net price.

The CPQ Pricing Waterfall is the sequential chain of calculations that derives the final price for each quote line. The stages are:

1. List Price: The price from the Price Book Entry — the starting point.
2. Regular Price: List price after any contracted pricing (block pricing or contracted price) is applied.
3. Customer Price: Regular price after Discount Schedules (volume/tier discounts based on quantity) are applied.
4. Partner Price: Customer price after Partner Discount (a field on the quote line, typically populated by a distributor markup/markdown).
5. Net Price: Partner price after Additional Discount — the final price the customer pays. Each stage can be influenced by Price Rules (which can target any price field in the waterfall). The Unit Price on the quote line reflects the net price per unit; the Net Total is unit net price × quantity. Understanding which waterfall stage a Price Rule targets is critical for correct pricing behaviour.