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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?
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Best answer 05-31-2019

Accepted Solutions
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

6 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

Not applicable

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!

Not applicable

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.

Experienced Member

Re: Markup percentage on Products

Would you mind walking me through this procedure? I feel like this could be my solution to my own issue: I'd like to be able to enter my cost as a base price in an estimate, then add a markup to get the final price to my customer. In the estimate, I'd be able to see my cost and markup, but my customer would only see their price.

Moderator

Re: Markup percentage on Products

It's good to know that the solution provided by my colleague help you as well, NDSE Bethesda.

 

I'll guide you through the steps on how your customer won't see the markup you've entered.

 

  1. From the Lists menu, select Templates.
  2. Double-click the template for estimate.
  3. Click the Additional Customization button.
  4. Go to the Column tab.
  5. Unchecked the Mark up field under Print column.
  6. Click OK, and then OK.

You can also create an invoice for this estimate, you can check the steps through this article: How to convert an estimate into an invoice.

 

Feel free to post here if I can be of any help. Thank you.

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