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October 26, 2023
Question

I have a stock of a product from that stock I sell it both to private individuals and to stores at a different price. How do I divide it?

  • October 26, 2023
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I have a stock of a product, from that stock I sell it both to private individuals and to stores at a different price. How do I divide it? Do I make two products? Do I send an invoice and change the price in the invoice itself?
Thanks for the helpers.

1 reply

October 26, 2023

It’s nice having you in the Community, lior. I can share information about adding stock items in QuickBooks Online (QBO).

 

Adding the same stock items isn’t available and isn’t advisable in QBO. There are certain factors that need to be considered when entering products and services items in your company file. First off, the stock products are items that are measured and counted.

 

If you set up two of the same items of this product within your company file, there will be an inaccurate record of the Quantity on hand and may cause discrepancies in your Cost of Goods Sold (COGS) account.

 

Moreover, you can create a price rule for this item that allows you to assign specific amounts to specific customers. With this, you can charge different amounts to specific customers. Let’s start by turning on your price rules setting. Here’s how:

 

  1. Go to the Gear icon and select Account and Settings.
  2. Navigate to the Sales tab, and select the Products and Services section to Edit.
  3. Toggle on the Turn on price rules Beta.
  4. Select Save and then Done.

 

After that, let’s set a rule for this item to apply different amounts for specific customers. Let me walk you through:

 

  1. From the left navigation pane, select the Sales menu.
  2. Hover your cursor to the Product and Services tab to select.
  3. Locate the item you have set up.
  4. Click Edit under the Action column.
  5. In the Product/Service information, scroll down to see the Price Rules section.
  6. From there, click Add New.

 

Once you’re in the Create a price rule window, we can now start filling out the information with the steps below:

 

  1. Enter a Rule name and other details you want to add to this rule.
  2. From the Customer dropdown, choose Select individually.
  3. Click the + Add customer button to select a specific customer and select a Customer you’ll be applying this rule.
  4. In the Products and Services tab, locate the product and enter the Adjusted Price.
  5. Once done, click Apply rule then Save and close.

 

You can repeat the same process to set for the other customers you have with different adjusted amounts.

 

Alternatively, you can opt for manually changing the amount upon the creation of the invoice. Here’s how:

 

  1. Click the + New icon and select Invoice.
  2. Fill out the sales details and select the item in the Product and Service column.
  3. In the Amount column, manually change the price.
  4. Once done, click Save and close.

 

If you still wish to enter this in your company file, you can alter the product name or add a character. For example, Lollipops, then you can set the other one as Lollipops II. Once decide, you can go to this article that contains complete guidelines for adding stock items in QBO: Add inventory products in QuickBooks Online.

 

Use reports to get helpful insights on the things you buy and sell, and the status of your inventory. You can go over to this resource for instructions: Use reports to see your sales and inventory status.

 

If you have more questions or other concerns about adding items, you can ping me here to get assistance.