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DM
Level 3

DEFAULT MARKUP WHEN COST CHANGES

I have posed this question/suggestion to Quickbooks but have had no feedback.

If a default markup % on items is set, why does the sales price not adjust automatically when the cost price is changed?

This will save a lot of time in having to edit sales prices manually.

Any input?

Solved
Best answer July 16, 2020

Accepted Solutions
JenoP
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

The default markup percentage only applies to billable time and expenses, DM.

 

This is the reason why the sales price is not automatically updating when you used the item in a sales transaction. For stock and non-stock items, you can use the Add/Edit Multiple List Entries function to change the sales price for multiple items. Here's how: 

 

  1. Go to the List menu and click Add/Edit Multiple List Entries.
  2. Select Stock or Non-Stock in the drop-down list for List.
  3. Proceed to the Sales Price column and update the amount.
  4. Click Save Changes.

Let me share these articles about editing products in QuickBooks Desktop: 

 

Also, I can see that you've already submitted feedback or suggestion about this feature. While we can't really tell you when it will become available, you can visit this website to check the latest updates that we have for QuickBooks: https://quickbooks.intuit.com/uk/product-updates/.

 

As always, you can add a reply below or reach out to us again in the future if you need more help with your products and services. 

View solution in original post

9 REPLIES 9
Ashleigh1
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

Hello DM, 

 

 

Thanks for reaching out to us on the Community page, 

 

Can we ask are you using the UK desktop version or the US desktop version of Quickbooks? 

DM
Level 3

DEFAULT MARKUP WHEN COST CHANGES

Good question. I am in South Africa. I think it's the UK version

Ashleigh1
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

Hello DM, 

 

Thanks for clarifying that to us, 

 

Can we ask could you send us a screenshot please of your issue so we can have a look into this more for you. Thanks 

DM
Level 3

DEFAULT MARKUP WHEN COST CHANGES

Not sure how to screen shot but can explain.

When adding an item a cost price is entered and because I have a default mark up set under preferences the sales prices is automatically entered by the system.

When entering a supplier bill and the cost has changed, the system prompts to ask if you want to update the cost price and I select yes. This will mean that according to the default mark up I use the selling price should also change. This does not happen and I manually have to edit the item sales price according to the new cost.

 

Hope this clarifies

John C
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

Hi DM Are you using the desktop version or the online, cloud based version of the product?:thinking_face:

DM
Level 3

DEFAULT MARKUP WHEN COST CHANGES

Desktop, Premier Accountant Edition 2017

John C
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

Hi DM Can you provide us with a screen shot as we are not able to locate what you are referring to? Select the shift key the windows key and S all at the same time or use Ctrl and PrtScn and then paste it to the chat.

DM
Level 3

DEFAULT MARKUP WHEN COST CHANGES

As per the attachment. 

I create the item and enter the cost. The system then calculates and fills the sales price according to my default mark up set which is 50%.

 

If I change the cost price, the sales price does not automatically adjust to keep the 50% mark up.

Or when entering a suppliers bill and the part is already loaded with a cost, it auto fills and if the cost has changed you can update from there but this does not adjust the sales price according to default mark up set. (This is set under Preference - Time & Expenses - Company Preferences)

JenoP
QuickBooks Team

DEFAULT MARKUP WHEN COST CHANGES

The default markup percentage only applies to billable time and expenses, DM.

 

This is the reason why the sales price is not automatically updating when you used the item in a sales transaction. For stock and non-stock items, you can use the Add/Edit Multiple List Entries function to change the sales price for multiple items. Here's how: 

 

  1. Go to the List menu and click Add/Edit Multiple List Entries.
  2. Select Stock or Non-Stock in the drop-down list for List.
  3. Proceed to the Sales Price column and update the amount.
  4. Click Save Changes.

Let me share these articles about editing products in QuickBooks Desktop: 

 

Also, I can see that you've already submitted feedback or suggestion about this feature. While we can't really tell you when it will become available, you can visit this website to check the latest updates that we have for QuickBooks: https://quickbooks.intuit.com/uk/product-updates/.

 

As always, you can add a reply below or reach out to us again in the future if you need more help with your products and services. 

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