It’s a popular saying in business: everything is negotiable. There are many reasons you might want to charge different customers different prices for your products or services. You might give a discount to your most loyal customers for buying in bulk. First-time customers might get a special price to bring them in the door. QuickBooks Online Plus makes flexible pricing simple with the Category option. Instead of creating a new product for every price, you create a product category with as many different prices you need within that category.
Let’s say you’re selling stickers. Rather than just adding stickers as a product, add it as a category instead. Then you can add differently priced items within that category (like “Case of 100 stickers” and “Single unit sticker”). If you’re organizing your existing items, it’s no problem to edit the item and fill in the Category field.
You can use these categories on invoices and sales receipts to find the items you want to sell quickly. Need to access bulk pricing for your biggest client, or just need to sell one item to a walk-up? Type the category name and you’ll find both options available at your fingertips.
How has flexible pricing changed the way you do business? Do you use QBO’s Categories function to make pricing easier?
Categories are a huge time saver! They work on purchases too- as long as you have checked the box for "I purchase this product/service from a supplier" you can save time entering expenses and bills too!
I love this tip @MegBarbolini! While I was playing with it, I found another tip that could be useful. You can nest categories. So for instance, in your stickers example, you could have two subcategories under stickers (like foil stickers and paper stickers). Then you can add items to those subcategories. This just adds some flexibility, which is pretty cool.
thabks for the tip,
but i am concerned over the management of inventroy. i manage a beauty product distributor with QBO and we have three different types of customers with differemt price level for each. i see how creating a category out of each item would give me that flexibility but i am doubtful if the inventory will work porperly. will the existance be under the category or the item itself, for it to work it should be in the category right.
I'm glad you reached out for clarification on this inventory feature.
Yes, you do have the ability to add the type in the category field, if the type is what you're using to differentiate price levels.
If you have any further questions about this feature, please don't hesitate to let me know.
Hey Ricardo (@ricardolacayo)
I am really glad you asked about managing categories. Structuring your inventory around categories is really important for good bookkeeping and reporting to see how certain items are performing.
Think of categories as the broad label to organize related items under:
What matters most is organizing it in a way that makes sense to you. Here are a few articles that might be helpful:
I hope this helps!
Thank you for your quick reply, My question is regarding where would the inventory be, in the category level or the item itself. For this to work everything must be under the category level since all the items under that category have the same sku and cost, the item is just created to differentiate prices.
Hey @Anonymous and @ricardolacayo! I see what you're trying to do here as far as manaing price levels, and to be honest Categories isn't a great solution for that. This article gives you basics of organization using Categories, but doesn't really help out with the complexity of truly managing variable pricing in QBO.
However, we've recently launched a Beta feature into QBO that IS a great solution for this! Its called Price Rules and it will let you set up rules for all of your items based on customers or types of products/services. To turn it on just travel to Gear>Sales> Price Rules, check the box and save your settings. Then you can travel to Gear> All Lists> Price Rules to set up some rules. This will allow you to charge different prices for some customers while using the same inventory item and quantity. Hope that helps!
Ah, got it- thanks for sharing the screenshot, as soon as I looked at it I realized that you are using a non-US version of QBO, and this Beta feature is currently only available in the US. Our other regional teams are working to get this into non-US versions soon, so stay tuned for this feature's release.
I'd recommend checking with an accountant before trying to split an item into multiple QBO inventory items- this would functionally work to keep prices separate, but may not be the most accurate way to manage inventory. Given this limitation you may need to manually keep track of price levels until the Price Rules feature is fully launched in your region.
thank you very much for clearing this though, i am pretty sure will be huge for a lot of users, i will be anxoiusly expecting the new beta for latin america. also the limitations on negative inventory would be a great feature.
thankyou very much