Solved

DEFAULT MARKUP WHEN COST CHANGES

Forum|Forum|5 years ago
July 16, 2020
1 reply
5 views

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?

QuickBooks Desktop

Best answer by JenoP

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)

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:

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

A

Ashleigh1

Level 14

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?

D

DM 12Author

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

JenoP

Answer

QuickBooks Team

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)

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:

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

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded