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Established Community Backer ***

Re: Definitely need to be able to add markup to estimate. How...

Estimates are NON posting, you could put a charge of  million bucks on an estimate and it is impossible for it to affect COGS or anything else. Estimates include what you propose to charge a customer, not what you actually charge. Your Products/Services can have both a selling price and your cost, and the markup is built into the selling price. 

 

If your going rate to perform a service is $100/hr you just enter the hours. If you sell widgets that cost you 99 cents for $5 Your estimate is going to say $5, unless you override it.

 

Markup from your list price is as I see it only necessary when you are buying something you do not normally sell and wish to add a markup.  You always can do this with billable expenses from a bill or expense to an invoice.

 

Estimates serve no income purpose until they are converted to a sales receipt or invoice. If you have used billable expenses then you can add them to the invoice you create from the estimate replacing your estimated charges.

Established Community Backer ***

Re: Definitely need to be able to add markup to estimate. How...


@john-pero wrote:

Estimates are NON posting


It does not matter that estimates are non-posting. That's not the point.  QBD has the ability to base the price on a markup on cost, for inventory items of course. The problem is the cost is the static cost entered in the item set-up, not based on actual purchases, so it may be completely wrong

 

 

edit: I have since learned that the cost entered in the item set-up is in fact not static , that it is dynamic and updates to the cost in the last purchase

Senior Explorer ***

Re: Hello smckay, The markup feature in QuickBooks Online is...

Not a very good answer Inuitlea. After 2 years of feedback you would think there would be the option for adding markup. Sounds like we will need to go back to quickbooks desktop or look elsewhere for software.

Senior Explorer ***

Re: Hello smckay, The markup feature in QuickBooks Online is...

After 2 years this still hasn't been added to QBO. I just changed from desktop to online and wondering why. Might have to look elsewhere for a company that updates their products.

QuickBooks Team

Re: Hello smckay, The markup feature in QuickBooks Online is...

Hello, JamesCrozier

 

I'd be glad to let you know that the markup feature is already available in QBO. 

Here's how:

  1. Click on the Gear icon.
  2. Under Your Company, click Account and Settings.
  3. Select Expenses.
  4. Click the pencil icon in the Bills and expenses section.
  5. Check the Markup with a default rate.
  6. Click Save.
  7. Click Done.

You can also check the screenshots below:
 

 

 


Let me know if you have other concerns. Have a great day!

 

 

 

 

 

 

Community Explorer **

Re: Hello smckay, The markup feature in QuickBooks Online is...

This doe not solve the estimate markup issue

Established Community Backer ***

Re: Hello smckay, The markup feature in QuickBooks Online is...


Community Explorer **

Re: Hello smckay, The markup feature in QuickBooks Online is...

For the contractor world costs change. No matter what the markup and margin feature needs to be deployed in the estimate feature. 

Highlighted
Senior Explorer ***

Re: Hello smckay, The markup feature in QuickBooks Online is...

Does not help with doing markup in estimates or invoices.

QuickBooks Team

Re: Hello smckay, The markup feature in QuickBooks Online is...

Hello there, @JamesCrozier.

 

Allow me to share additional information on how you can maximize the use of your QuickBooks Online account in adding mark up to your estimates.

 

I understand how important it is for you and your business the ability to add mark-up on estimate in QuickBooks Online. I'd personally share this to our Product Developers for consideration in future product updates.

 

While this feature is specifically for billable expenses on the vendor side, you can utilize the Bundle feature to enable markups on estimates. You just need to add the mark up as a service or product item. 

  • There is a limit of 50 component items in a bundle which is convenient for your construction business.
  • If you already created a bundle, you cannot bundle another bundle.
  • You cannot assign bundle to a category, however you can sort out your inventory by Type.
  • When converting an estimate to a purchase order, the bundle will not transfer but its parts can if the purchases description and cost have been filled in.
  • For individual entry, you can add the Mark-up item as a line item to Estimates, Invoices or Sales Receipts.
  • Bundle can used in creating: Estimates, Invoices, Sales Receipts, Credit Memos, Refund Receipts, Delayed Credits, and Delayed Charges.

First, let's create a service item for the mark-up:

  1. Go to the Gear Icon.
  2. Choose Product and Services.
  3. Click New.
  4. Choose Service.
  5. Fill in the item details.
  6. Make sure to choose Mark up as the accounts affected.
  7. Click Save and Close.

To create a bundle, here's how:

  1. Click Gear Icon.
  2. Choose Product and Services.
  3. Go to New button.
  4. Select Bundle.
  5. Fill in the Bundle details.
  6. Add the products and services included on the bundle.
  7. Click Save and Close.

Once completed, you can now add the bundle on the Estimate you are creating. Here's how:

  1. Click the Plus Icon.
  2. Choose Estimate.
  3. Complete the Estimate detail.
  4. Add the bundle you've created, look for the name of it from the Product/Service column.
  5. Click Save and Close.

You also have the ability to choose whether you want the components of the bundle to be included in printing and sending the estimate. Just mark indicate in creating the Bundle item.

 

With our goal is to make QuickBooks as user friendly as possible for all the small business owners, so feel free to share with us if you have suggestions for improvement.

 

That's it! This should get you on the right track in  adding mark-ups to your estimates.

 

Community Explorer **

Re: Hello smckay, The markup feature in QuickBooks Online is...

Good morning,

 

Although this might or might not be a workaround, there are several significant flaws. 

 

  1. The markup is not global for the entire estimate
  2. The markup will show on the estimate tipping your hand how much you are marking up an item.
  3.  A .20 markup in the example presented by juVielL is not really a markup...its more of discount
  4. The example does not take the estimate far enough to show real results.

I would assume that the markup item in services would be included in a bundled item? I also think there is a better workaround using price rules. This said, there is not an easy solution the way I currently see it. Please prove me wrong Smiley Happy

Experienced Member

Re: Hello smckay, The markup feature in QuickBooks Online is...

Hello, 

 

How was your experience with QB for Contractors?  Thanks for any insight. 

Experienced Member

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.

I am right there with you this is stupid that something so advanced can't do a mark up.

Active Member

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.

Has anyone found an alternative to use such as a third party quoting software, with these features we want, that may could even integrate with QBO?

QuickBooks Team

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

Hi Rockstar,

 

Let's search for an app that you can use for the markup.

 

You can click on the Apps menu in the left navigation bar. Then, search for something like quote or estimate.

 

On the other hand, feel free to submit feedback about this from your QBO company. You can click on the Gear icon and choose Feedback.

 

If you have other questions, please go back to this thread.

Senior Explorer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

Why is it the Quickbooks Online always says to look for a app. This feature shouldn't be that hard to add to Quickbooks Online.

QuickBooks Team

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

Hello JamesCrozier,

 

I appreciate you for posting here in the Community. Allow me to step in for a moment and help share what I know about this feature in QuickBooks Online.

 

The features and options available in QuickBooks Online are coming from the suggestions of QuickBooks users. Since there are third-party programs integrated with the program, this is an alternative way to get what you need.

 

Our product developers are releasing updates for QuickBooks products from time to time. That said, I recommend sending your feedback as well by clicking the Gear icon and selecting the Feedback option.

 

Please know I'm always here whenever you need help with QuickBooks. The Community has your back.

Active Member

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

I'm sorry but this is a little like the game that gets played among siblings where the older one grabs the younger's arm is popping them in the head with their own arm and saying "stop hitting yourself, why are you hitting yourself..." 

 

For the QB Team - you guys know that there is a problem with this known/stated/recapped/pleaded for/beyond begging issue.  It's really a pretty simple thing and it's NOT the fact that someone simply needs to push the Gear button and log a request.  That has been done repeatedly not to mention you guys keep responding to us so why don't YOU log the issue internally.  After the issue has been rehashed over such a long period of time, how about just cowboy-up and either have someone much, MUCH higher up the food chain (ie VP of Cust Svc) login and say one of probably two responses:

 - "We heard you - sorry that this has gone on so long.  This shouldn't take much to resolve and we've assigned two people to it and should have a fix within X number of weeks.  Please let us know if you're willing to test the new functionality for us."

  -- OR --

 - "Look - why do you keep hitting yourselves with this issue.  If you can find a better online product then go with it.  Otherwise, we really don't care that much to go back and address this - it's not worth it for us to dedicate resources to an issue that is important to a small percentage of users.  Now click on the Gear button and log this as an Enhancement Request or else see if we have an app."

 

Sorry but for you, the QB Team, to keep logging such ineffectual responses comes across as disingenuous and somewhat insulting.

Frequent Explorer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

Sorry, but why should we pay extra for something that was included in desktop. Online should be more flexible not less. Very disappointed that this has not been added, especially when QBO is so expensive.

QuickBooks Team

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks...

Hello @Kimpelb,

 

I appreciate for sharing your insights with us. 

 

I can see how it would be useful to you to have the ability to make an estimate/invoice with the Markup rate. I'll make sure to pass along your request to the Product Development team to let them know you'd like to have the Markup rate in estimates/invoices.

 

You can always get back into this post if you have more questions.

Frequent Explorer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.

I have been looking Quotewerks will do the markups on an estimate and uploads into QBO. Unfortunately it is $26/month and you also have to buy the application, starting $300. It is not an app even though it says so on QBOA. QBOA also says it is $20/ month. It does lots of other things that I simply do not need for that price. I am still searching and may be looking for a different accounting package all together if QBO cannot add this feature.

Established Community Backer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.


@Kimpelb wrote:

I have been looking Quotewerks will do the markups on an estimate


I am curious; markup on what exactly?

Frequent Explorer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.

Customer quotes

Established Community Backer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.


@Kimpelb wrote:

Customer quotes


The customer quotes? I would not want my customer to quote. That's for me to do

 

 

 

 

 

Frequent Explorer ***

Re: How do I add markup to my cost of products on an estimate on the online version of QuickBooks? The desktop version had a column for mark up via % or amount.

Of course it is.