1) Go to app\code\core\Mage\Sales\Model\Quote\Item\ then open Abstract.php page.
2) Write the following code in the public function getPrice() (line no - 484)
$_Pdetails = Mage::getModel('catalog/product')->loadByAttribute('sku',$this->_getData('sku'));
return $_Pdetails->getFinalPrice();
Code should be
public function getPrice()
{
$_Pdetails = Mage::getModel('catalog/product')->loadByAttribute('sku',$this->_getData('sku'));
return $_Pdetails->getFinalPrice(); // Debendra on 17/02/2014
/* Orginal Code
return $this->_getData('price');
*/
}
Now the correct product price is going to show in the admin panel, when you create one order (Phone order).