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Markup percentage on Products

How do I markup (preferably as a %) non-inventory parts on an invoice so the cost of the part goes to COGS and the markup goes to Income?
Solved
Best answer 05-31-2019

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Established Community Backer ***

Re: Markup percentage on Products

One way of doing this is recording your purchase of the non inventory part as billable to customer. Then you create invoice, select to add time/costs, set the markup percent. Set where markup posts in your preferences. Edit. Preferences. Time and Expense. Invoicing Options

4 Comments
Established Community Backer ***

Re: Markup percentage on Products

One way of doing this is recording your purchase of the non inventory part as billable to customer. Then you create invoice, select to add time/costs, set the markup percent. Set where markup posts in your preferences. Edit. Preferences. Time and Expense. Invoicing Options

Established Member

Re: Markup percentage on Products

Thank you for your reply. That works, but I would like it to be transparent (not show as a markup on the invoice), like it is in Estimates. The solution you describe line-items the Original Cost, Markeup, and Total. I want the item to be just one line that shows the marked-up price, with the system seperating the cost from markup in the backround for proper accounting of COGS and Income. Any way to make it do that?

Thanks!

Established Member

Re: Markup percentage on Products

So I played with it a little more and when I check the box "Print selected time and cost as one invoice item" only the marked-up total appears on the invoice when printed.

 

Thanks for your help!!

Moderator

Re: Markup percentage on Products

Hi there, dseery01.

 

Thanks for getting back to us and going through the steps given by one of our helpful contributors, john-pero.

 

I'm delighted that he was able to help you with showing the marked-up price on the invoice in QuickBooks Desktop. The Community has a lot of experts that are ready to lend a hand.

 

If you have any concerns, just leave a comment below. We're here to help. Have a great weekend.