Unit Price vs List Price

Unit Price vs List Price

Hi Guys

I am looking at setting up price books and want some clarity.

In the product module there is "unit price". I have been using this price as our sell price for quotes etc.

I presume though this should be our buy price from our supplier????? Is this correct.

I then set up price books with the "list price" our sell to customer price.

Then I set up the price book with the pricing model eg "flat" with the discount from list.

I can then build a quote and use the button on the price in the quote table to adjust using the price book/s asociated with that product??

ty