Learn about the types of prices you can set up for the products you sell in QuickBooks Commerce.
All done setting up your products and their variants? Set up their price lists next for easier inventory accounting. Price lists let you track both your products’ buying and selling prices.
If you’re new to QuickBooks Commerce, you can set up your inventory’s buy, wholesale, and retail price lists to get started. We’ll help you understand what these prices are, and how QuickBooks Commerce uses them in transactions.
- Buy: The price of the product when you buy it from your vendor. QuickBooks Commerce suggests this price when you add a new purchase order. QuickBooks Commerce also uses the buy price when calculating a product’s moving average cost and inventory value.
- Wholesale: The price of your product if you sell it in bulk to a customer (usually another business) and at a lower price than retail. QuickBooks Commerce suggests this price when you add a new sales order.
- Retail: The market price of your product. It’s the usual price when you sell to a consumer or end user. This is also the price QuickBooks syncs with your online store.
Set up your buy, wholesale, and retail prices
You can set up your inventory’s buy, wholesale, and retail prices in one place. Then, QuickBooks Commerce will automatically suggest these prices when you add new transactions, so you don’t have to reenter them again.
When you're ready, learn how to add prices to your price lists. And if you need to, create custom price lists for different buying and selling situations.