diff --git a/models/baseModels/tests/testPriceList.spec.ts b/models/baseModels/tests/testPriceList.spec.ts
new file mode 100644
index 00000000..4883189d
--- /dev/null
+++ b/models/baseModels/tests/testPriceList.spec.ts
@@ -0,0 +1,220 @@
+import test from 'tape';
+import { getDefaultMetaFieldValueMap } from 'backend/helpers';
+import { closeTestFyo, getTestFyo, setupTestFyo } from 'tests/helpers';
+import { ModelNameEnum } from 'models/types';
+import { getItem } from 'models/inventory/tests/helpers';
+import { getItemPrice } from 'models/helpers';
+import { SalesInvoiceItem } from '../SalesInvoiceItem/SalesInvoiceItem';
+import { SalesInvoice } from '../SalesInvoice/SalesInvoice';
+import { PurchaseInvoiceItem } from '../PurchaseInvoiceItem/PurchaseInvoiceItem';
+
+const fyo = getTestFyo();
+setupTestFyo(fyo, __filename);
+
+const itemMap = {
+  Pen: {
+    name: 'Pen',
+    rate: 100,
+    hasBatch: true,
+  },
+  Ink: {
+    name: 'Ink',
+    rate: 50,
+  },
+};
+
+const partyMap = {
+  partyOne: {
+    name: 'John Whoe',
+    email: 'john@whoe.com',
+  },
+};
+
+const batchMap = {
+  batchOne: {
+    name: 'PL-AB001',
+    manufactureDate: '2022-11-03T09:57:04.528',
+  },
+};
+
+const priceListMap = {
+  PL_SELL: {
+    name: 'PL_SELL',
+    enabled: true,
+    party: 'Shaju',
+    buying: false,
+    selling: true,
+    isUomDependent: false,
+    itemPrice: [
+      {
+        enabled: true,
+        item: itemMap.Pen.name,
+        rate: 101,
+        buying: false,
+        selling: true,
+        party: partyMap.partyOne.name,
+        validFrom: '2023-02-28T18:30:00.678Z',
+        validUpto: '2023-03-30T18:30:00.678Z',
+        ...getDefaultMetaFieldValueMap(),
+      },
+    ],
+  },
+  PL_BUY: {
+    name: 'PL_BUY',
+    enabled: true,
+    buying: true,
+    selling: false,
+    isUomDependent: false,
+    itemPrice: [
+      {
+        enabled: true,
+        item: itemMap.Pen.name,
+        rate: 102,
+        buying: true,
+        selling: false,
+        party: partyMap.partyOne.name,
+        validFrom: '2023-02-28T18:30:00.678Z',
+        validUpto: '2023-03-30T18:30:00.678Z',
+        ...getDefaultMetaFieldValueMap(),
+      },
+    ],
+  },
+  PL_SB: {
+    name: 'PL_SB',
+    enabled: true,
+    selling: true,
+    buying: true,
+    isUomDependent: false,
+    itemPrice: [
+      {
+        enabled: true,
+        item: itemMap.Pen.name,
+        rate: 104,
+        batch: batchMap.batchOne.name,
+        buying: true,
+        selling: true,
+        party: partyMap.partyOne.name,
+        validFrom: '2023-05-05T18:30:00.000Z',
+        validUpto: '2023-06-05T18:30:00.000Z',
+        ...getDefaultMetaFieldValueMap(),
+      },
+    ],
+  },
+};
+
+test('Price List: create dummy items, parties and batches', async (t) => {
+  // Create Items
+  for (const { name, rate } of Object.values(itemMap)) {
+    const item = getItem(name, rate, false);
+    await fyo.doc.getNewDoc(ModelNameEnum.Item, item).sync();
+    t.ok(await fyo.db.exists(ModelNameEnum.Item, name), `Item: ${name} exists`);
+  }
+
+  // Create Parties
+  for (const { name, email } of Object.values(partyMap)) {
+    await fyo.doc.getNewDoc(ModelNameEnum.Party, { name, email }).sync();
+    t.ok(
+      await fyo.db.exists(ModelNameEnum.Party, name),
+      `Party: ${name} exists`
+    );
+  }
+
+  // Create Batches
+  for (const batch of Object.values(batchMap)) {
+    await fyo.doc.getNewDoc(ModelNameEnum.Batch, batch).sync();
+    t.ok(
+      await fyo.db.exists(ModelNameEnum.Batch, batch.name),
+      `Batch: ${batch.name} exists`
+    );
+  }
+});
+
+test('create Price Lists', async (t) => {
+  for (const priceListItem of Object.values(priceListMap)) {
+    await fyo.doc.getNewDoc(ModelNameEnum.PriceList, priceListItem).sync();
+    t.ok(
+      await fyo.db.exists(ModelNameEnum.PriceList, priceListItem.name),
+      `Price List ${priceListItem.name} exists`
+    );
+  }
+});
+
+test('check item price', async (t) => {
+  // check selling enabled item price
+  const sinv = fyo.doc.getNewDoc(ModelNameEnum.SalesInvoice, {
+    items: [{ item: itemMap.Pen.name, quantity: 1 }],
+    date: priceListMap.PL_SELL.itemPrice[0].validFrom,
+    priceList: priceListMap.PL_SELL.name,
+    party: partyMap.partyOne.name,
+  }) as SalesInvoice;
+
+  const sinvItem = Object.values(sinv.items ?? {})[0];
+  const sellEnabled = await getItemPrice(sinvItem as SalesInvoiceItem);
+
+  const sellEnabledPLName = await fyo.getValue(
+    ModelNameEnum.ItemPrice,
+    sellEnabled as string,
+    'parent'
+  );
+
+  t.equal(sellEnabledPLName, priceListMap.PL_SELL.name);
+
+  // check buying enabled item price
+  const pinv = fyo.doc.getNewDoc(ModelNameEnum.PurchaseInvoice, {
+    items: [{ item: itemMap.Pen.name, quantity: 1 }],
+    date: priceListMap.PL_BUY.itemPrice[0].validFrom,
+    priceList: priceListMap.PL_BUY.name,
+    party: partyMap.partyOne.name,
+  }) as SalesInvoice;
+
+  const pinvItem = Object.values(pinv.items ?? {})[0];
+  const buyEnabled = await getItemPrice(pinvItem as PurchaseInvoiceItem);
+
+  const buyEnabledPLName = await fyo.getValue(
+    ModelNameEnum.ItemPrice,
+    buyEnabled as string,
+    'parent'
+  );
+
+  t.equal(buyEnabledPLName, priceListMap.PL_BUY.name);
+
+  // check sell batch enabled
+  const sinv1 = fyo.doc.getNewDoc(ModelNameEnum.SalesInvoice, {
+    items: [
+      { item: itemMap.Pen.name, quantity: 1, batch: batchMap.batchOne.name },
+    ],
+    date: priceListMap.PL_SB.itemPrice[0].validFrom,
+    priceList: priceListMap.PL_SB.name,
+    party: partyMap.partyOne.name,
+  }) as SalesInvoice;
+
+  const sinv1Item = Object.values(sinv1.items ?? {})[0];
+  const sellBatchEnabled = await getItemPrice(sinv1Item as SalesInvoiceItem);
+
+  const sellBatchEnabledPLName = await fyo.getValue(
+    ModelNameEnum.ItemPrice,
+    sellBatchEnabled as string,
+    'parent'
+  );
+
+  t.equal(sellBatchEnabledPLName, priceListMap.PL_SB.name);
+
+  // undefined returns
+  const sinv2 = fyo.doc.getNewDoc(ModelNameEnum.SalesInvoice, {
+    items: [{ item: itemMap.Ink.name, quantity: 1 }],
+    date: priceListMap.PL_SELL.itemPrice[0].validFrom,
+    priceList: priceListMap.PL_SELL.name,
+    party: partyMap.partyOne.name,
+  }) as SalesInvoice;
+
+  const sinv2Item = Object.values(sinv2.items ?? {})[0];
+  const nonExistItem = await getItemPrice(sinv2Item as SalesInvoiceItem);
+
+  t.equal(
+    nonExistItem,
+    undefined,
+    'itemPrice of non-existing item in price list returns false'
+  );
+});
+
+closeTestFyo(fyo, __filename);