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NeuroManager
February 8, 2019
Solved

Markup percentage on Products

  • February 8, 2019
  • 3 replies
  • 0 views

Is there a way  to set a markup percentage on items you sell? Currently I have a separate excel file where I have to plug in the cost price of each item and then I have a formula that tells me what the sales price is if I want to sell it at a 40% markup before tax.  

Best answer by JonpriL

Hello @NeuroManager,

 

As of the moment, we can only enter the cost of the item and the sales price when setting up an inventory item.

 

In the meantime, what you have practiced is the best option to set this up.

 

I suggest sending the same message to our developer team by feedback. This way, they'll know of the things need to be added and improve the product preference which will help you and other users about the inventory set up. Simply go to the Gear icon then select Feedback.

 

Let me know if you have any other questions by clicking the Reply button. I'll be always around to help.

3 replies

J
JonpriLAnswer
February 8, 2019

Hello @NeuroManager,

 

As of the moment, we can only enter the cost of the item and the sales price when setting up an inventory item.

 

In the meantime, what you have practiced is the best option to set this up.

 

I suggest sending the same message to our developer team by feedback. This way, they'll know of the things need to be added and improve the product preference which will help you and other users about the inventory set up. Simply go to the Gear icon then select Feedback.

 

Let me know if you have any other questions by clicking the Reply button. I'll be always around to help.

    N
    NeuroManagerAuthor
    February 8, 2019

    Thanks

    J
    JonpriL
    February 8, 2019

    You're welcome NeuroManager!

     

    Please know that I'm always around here in the Community if you have any other questions. Have a great day! 

    J
    JenMontana13
    November 18, 2019

    As I read thru this thread, it sounds like there IS a way on the desktop version to do this?  Can someone explain how?  Am I correct in understanding that on the desktop version there is a way to enter a formula using an inventory item's cost for QB to calculate the price?

    Thanks,

    J

    IntuitLily
    IntuitLily
    November 18, 2019

    Thank you for chiming in the thread, @JenMontana13.

     

    In QuickBooks Desktop, the markup percentages on products can be viewed on the description of sales transactions. If you want to edit the markup percentage of the item, just go to the Lists menu and select Item List.

     

     

     

    Then look for the inventory item and click it twice. This will route you to the Inventory Part details. Just click the Edit Markup tab and enter all the necessary information for the markup.

     

     

    Also, the Price Level function in QuickBooks Desktop allows you to set prices for all your inventory and expense items. However, this is only available to QuickBooks Desktop Enterprise customers.  

     

    To mark up items on an invoice by expense type, you can perform these steps:

     

    1. Navigate to the Customer menu and click on Create Invoices.
    2. From the drop-down menu, select Customer:Job. 
    3. Click the Add Time/Costs tab.
    4. On the Choose Billable Time and Costs window, go to the Expense tab and choose the item expense that you want to mark up. 
    5. In the Markup Amount or % field, choose how much you want to mark up for the item.
    6. Indicate the income account you want to use to track the revenue in the Markup Account field.
    7. Once done, click Save.

    Please let me know if you have other questions. I'll be here to help. Have a good one.

    J
    JenMontana13
    November 24, 2019

    Thanks!  

     

    I'll try this next.  I don't recall seeing an option in the inventory item for edit markup.  I'll check it out!

    C
    Crystalpoolfw
    January 19, 2022

     Go to Vendors. Then Item List. Right click on any item. Click Change Prices. Then select the type of item, like Non-Inventory Part. Then select the items you want by checking them, or select Mark All, like I do. Then enter the amount or percentage you want to change items by. Be sure to write "%" after the number if you're doing a percentage. Then click Adjust. I like to check a couple items to make sure the 2nd column is accurate in reflecting the change I wanted. Then click OK once you're satisfied and to save the changes.

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