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Buy now & saveHello, I'm trying to use the markup feature in Quickbooks desktop on estimates. I've been doing a separate excel sheet for all of my quotes with markup in it but I'm QB can eliminate that extra step. I setup a couple of different markup levels but one of the things I noticed is that if I modify the item price and then add a markup, it applies the markup, plus the percentage required to get the price back to the original price for the item. I'll give an example.
I have a generic non-inventory part called "Materials" that I use when quoting out jobs for little misc. things like nuts, bolts, patch cables, etc... That item when it was originally created had a value of $1,065.00. But its different for every job we quote, so I'll select that item, and then change the description and price for the job we're quoting. For example if the job needs $500 of materials (cost to us) then I'll select the materials item, and change $1,065.00 to $500.00. When I go to select the markup percentage though it applies the markup percentage, plus whatever percentage is required for the base price to go back to $1,000.00. So if I wanted to a 10% markup on $500 materials charge, then instead of marking it up 10% it marks it up 134.3%.
Is there any way to fix this?
Welcome to the Community space, @MrLizard06. Let's team up and get you through this to fix the markup option inside QuickBooks Desktop (QBDT).
Before anything else, we commend you for giving us a glimpse of your current situation inside the program. In this case, you'll want to review the inventory settings and see if everything is set according to your preference. We'll gladly write down the steps to get you going:
If the issue persists after making changes or reviewing the setup, we recommend utilizing the Verify and Rebuild feature. This way, the program will conduct a system checkup to determine the cause of the problem and start fixing it. For more information, please see this page: Verify and Rebuild Data in QuickBooks Desktop.
In addition, you can run a report to help you keep track of your inventories and transactions inside QBDT: Understand reports.
You can comment below if you need assistance managing inventory markup or estimates inside the program. As always, we'll be around to respond as soon as possible and help you with your concerns. Keep safe.
I went to lists->item list and double clicked on the item but there is not option shown to edit markup. I have the usual fields like item name/number, manufacturers part number, description etc... Then on the right there is the following buttons. OK, Cancel, Notes, Custom Fields, Spelling
Thanks for getting back to us, @MrLizard06.
Currently, the Edit Markup option is only available in the QuickBooks Desktop (QBDT) Enterprise subscription. To ensure the accuracy of your markups, you might want to consider upgrading your plan.
Here's how:
I'll share this article for the detailed step-by-step process: Upgrade to QuickBooks Enterprise from Desktop Pro/Premier.
Furthermore, QBDT offers dozens of reports to help you obtain an overview of your business, including your sales and inventory.
Please know that the Community is open around the clock whenever you have follow-up concerns about markups. Just mention me in your reply, and I'll sprint back into action. Stay safe, and have a wonderful day ahead!
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