Go to Prices at the top of the page, then click the Rate Types tab.
Click Create New Rate Type, which will take you to the following screen:
It's compulsory to fill out the top left fields, but everything on the right is optional.
Price basis: This will either be Per Room Per Night, Length of Stay, or Per Person Per Night.
Based on X people sharing: This only really matters if you charge for extra guests. For example, if your room is £100 for two people, but can hold an additional two adults at a cost of £30 each, you should set this at 2 – and you can add the Additional Adult cost of £30 later on.
Default Rate Type: Each bookable unit (room, cottage, apartment, caravan etc) needs to be listed in one rate type. This will let the system know which rate type to quote first when you begin a booking. Please note that you cannot list a bookable in more than one Default Rate Type.