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QuickBooks software 2012 – Auto Price Markup

One thing that I am always being asked for is to have the system automatically change the sales price of an item if the cost changes. Until now, that couldn’t really be done.

With QuickBooks Enterprise 2012, there is now a feature where you can have QuickBooks automatically update the sales price of an item when the cost changes. You have a few options on the setup side to get this working for you.

The first thing you want to do is go into your Company preferences under Items & Inventory. At the bottom of the screen, you can tell the system what to do with the cost and the price when the cost changes. You can tell it to ask you what to do every time the cost changes or you can tell it to always update or never update. If you tell it to update, you then have the choice to markup by Amount over Cost or Percentage over Cost.

When you set the preference to always ask you and then you change the rate of an item on a Purchase order, a screen will pop up that looks like this:

On this screen, QB will tell you the current cost and the new cost (based off the PO you just entered). You can verify if you want this update to happen by selecting Yes or No. Then on the 2nd half of the screen, it will show you the current price, the current markup and then if you were to update, what the new price would be and the markup on the new price. Again, you have the option to select whether or not you want QB to make this change.

With this new feature, no longer do you have to create the purchase order, change the cost and then go back into the item list to update the Sales Price. A very nice feature.

This entry was posted in 2012 New Features, Current Tips and Tricks and tagged , , , , , , , . Bookmark the permalink.

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