When new quotes are created with the Create New Quote feature, CPQ will automatically check if the customer you've added to the quote header has Customer Specific Pricing Rules associated with it. If so, CPQ will apply the Customer Specific Pricing Rules to the new quote.
If Customer Specific Pricing Rules do not exist for the customer, Global Pricing Rules will be applied to the quote:
When you save your new quote, CPQ will automatically apply pricing to your line items based on the rules that are applied.
Pricing applied by Pricing Engine will appear in Suggested Price column in your quote.
To see what pricing rule was used to price your line items, hover your cursor over the Pricing Explanation button.
If you need to see additional information about the pricing rules that are applied to your quote, click on the Pricing Explanation button, and CPQ will take you to the Pricing Engine page in Quote Settings.