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Set up and use Advanced Pricing

by Intuit Updated 5 days ago

Learn how to set up Advanced Pricing and use price rules to automatically change item prices on sales.

Advanced Pricing is available in the U.S. version of QuickBooks Desktop Enterprise with a Platinum Subscription. For Canadian versions of QuickBooks Desktop Enterprise, you can purchase it as an add-on service.

With Advanced Pricing, you can:

  • Automatically change the prices of items on sales based on the price rules you create.
  • Create Qty Discounts on specific items.

In this article, you'll learn how to:



Step 1: Turn on Advanced Pricing

IMPORTANT:

  • When advanced pricing is activated, QuickBooks changes the price levels in your company file into price rules.
  • If both a billing rate and a price rule apply to an item, QuickBooks will apply the billing rate, not the price rule.
  • Price rules won't apply to estimates or invoices created from estimates with the markup column.
  1. Select Edit, then select Preferences.
  2. Select Sales & Customers, then select Company Preferences.
  3. In Custom Pricing, select Enable Advanced Pricing.
  4. Tell QuickBooks how to handle price rounding.
    • To not use rounding, select Don’t round prices.
    • To use the same rounding for all price rules, select Use the same rounding across all price rules, then select a rounding option.
    • To set the rounding for each price rule separately, select Set rounding on each price rule.
  5. Select OK.


Step 2: Create price rules

You can create price rules with conditions based on customer, item, sales rep, and class. You can also create override rules to exclude items from a price rule. For example, you always want to charge a specific price for a specific item.

  1. Select Lists, then select Price Rule List.
  2. Select the Price Rule, then select New.
  3. Enter a name for the rule in Price Rule Name.
  4. Enter a brief description of the rule in Description.
  5. Select Add (+) to add a condition.
  6. Select whether the condition applies to Item, Customers, Class, or Sales Reps.
  7. Repeat step 5 if you want to create more conditions. 
  8. Enter the date when the price rule goes into effect in From.
  9. Enter the date when the price rule expires in To.
  10. Enter a percent or amount to increase or lower the price based on the item's base price or cost.
  11. To make this price rule exclusive, select Exclusive Rule. QuickBooks won't combine exclusive rules with any other rules.
  12. To set custom prices for specific items, select Price Overrides.
  13. Select OK.


Step 3: Edit, Delete, or Disable a price rule

  1. Select Lists, then select Price Rule List.
  2. Right-click a price rule.
  3. Select:
    1. Edit Price Rule to edit the rule.
    2. Delete Price Rule to delete a rule.
    3. Make Price Rule Inactive to disable a rule.


Step 4: Create a quantity discount

With Advanced Pricing you can create quantity discounts for specific items. For example, QuickBooks can charge different prices when a customer buys 10 to 19 items, 20 to 29 items, or 30 or more items.

  1. Select Lists, then select Item List.
  2. Double-click the item you want to create a quantity discount for.
  3. Select Qty Discount.
  4. Enter the minimum number a customer must purchase to get the discount in Qty From. For example, if you want to create a discount for customers who purchase 30 or more of this particular item, enter 30 in the field.
  5. Enter the discount amount in Discount %. For example, if you want to offer a 10% discount, enter 10 in the Discount % field.
  6. Repeat steps 4 and 5 to create additional quantity discounts for this item. For example, in addition to the 10% discount for purchases of 30 or more items, you can create a second discount level that offers a 5% discount for customers who purchase between 20 and 29 items. In this case, enter 20 in the Qty From and 5 in Discount %.
  7. Select OK.

QuickBooks uses the total quantity per line item when applying quantity discounts. When you add an item on more than one line of a sales form, QuickBooks doesn't combine the quantities of each line item. For example, an invoice for 10 widgets, 5 from site A and 5 from site B. In this case, QuickBooks doesn't apply the 10% discount for 10 or more items purchased. Because the 10 items are split between two lines on the sales form, the discount must be entered manually.

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