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TMichelleA2
Level 1

Estimates and Reimbursable Expenses

I've created an estimate to my customer with the following items:
Labor: 500.00
Equipment: 500.00
Third Party billings i.e. materials: 500.00 + 10% mark up

All my items are 2 sided. One side tied to an expense and the other tied to an income item.

Now when I enter a bill from my vendor as an expense and choose it as billable to my customer and create the invoice with the 10% mark up it doesn't show up on my Estimates vs Actual report in the correct category, it's all the way to the bottom titled "No Item". However, if I go back to the bill and change it from being on the expense tab of the bill to the "Item" section then when I go invoice my customer I can't mark up items for the 10%. What am I doing wrong?

14 Comments
FritzF
Moderator

Estimates and Reimbursable Expenses

Thanks for reaching out to us, @TMichelleA2.

 

I'm here to share some information about the markup showing as No item on the Estimates v.s Actuals report in QuickBooks Desktop (QBDT).

 

First of all, I appreciate you providing the complete details of your concern. The probable reason for why it's showing as No item on the report is that you manually add the markup percentage when linking the billable expense to an invoice. If that's the case, go back to the bill and change it from being on the expense to the item tab. Then, manually calculate the percentage and include it on the bill.

 

Here's how:

 

1. Open the bill then, go to the Items tab.
2. Enter the item, then enter the amount plus the markup on the Amount column.
3. Click Save & Close.

 

16.PNG

 

After that, create an invoice and link the billable expense. Here's how:

 

1. Go to the Customers menu at the top, then pick Create Invoices.
2. Select the Customer on the Customer:job drop-down.
3. On the Billable Time/Costs pop up, pick Select the outstanding billable time and costs to add to this invoices, then OK.
4. Go to the Items tab, then put a checkmark on beside the date, then OK.
5. Click Save & Close.

 

17.PNG 18.PNG

 

Once done, pull up the Estimate v.s Actual report again to double-check.

 

That should do it. Please let me know how it goes by posting a comment below. I'm only a post away if you have any follow-up questions about the process. Take care and have an amazing weekend!

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

Thank you so very much Fritz. However, the bill that I owe for materials is only 500.00 and when I try to enter 550.00 (cost plus mark up) it's not in balance so it won't save. The only way I can seem to get the mark up and tie my items correctly is manually enter the mark up in the invoice. 

 

Is that correct?

Anonymous
Not applicable

Estimates and Reimbursable Expenses

Hello, TMichelleA2.

 

Thanks for responding back.

 

Adding the markup manually on the invoice is your option. Aside from this, you can also set up the markup directly from the item to avoid manual entering. Here’s how:

 

  1. Click List from the top.
  2. Select Item list.
  3. Locate and double click the item involved.
  4. Click Edit markup tab from the right menu.
  5. Set the percentage markup and click Ok.

 

This will show the original price when creating a bill and will automatically add the markup when invoicing the billable expense.

 

Please drop by again if there’s anything else you need.

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

Hello MikiD,

 

Thank you for your help!

 

How do I create mark up % for different customers. For example my material mark up % for one customer is 10% and another one is 5% for the same item. 

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

I'm wondering if this is only an option in "Advanced Pricing", do you know?

Charies_M
Moderator

Estimates and Reimbursable Expenses

Hello there, TMichelleA2.

 

You've reached the right support. It's my pleasure to help you create a mark up percentage for different customers using the same item. 

 

Let's start with setting up a mark up percentage from each of your customers' Payment Settings.

 

Here's how:

  1. Go to Customers tab.
  2. Click Customer Center.
  3. Choose the first customer you want to set up for a mark up.
  4. Click the Payment Setting tab.
  5. From the Price Level drop-down, click Add New.
  6. Check the box for the chosen item.
  7. Enter the Price Level Name and the mark up percentage.
  8. Click OK.

Do the same thing to the other customer.

 

Now when you go to Lists, then Price Level List, you'll see the items you created. If you wish to modify them, you can do it by highlighting the item, right click and choose Edit Price Level.

markup2.PNG

 

Once done, you can apply the mark up to the invoices using the same item. I've attached a screenshot so you'll know how it would look like.

 

 

There you have it. You should now be able to create and apply those mark ups to your customers invoices.

 

Let me know if you have follow-up questions about this. I'm still here whenever you need help.

 

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

I already have a price level list set up for each of my customers. However, every time I try to add a mark up % for a line item on my Third Party items it will not take into effect. My "Material" item is ALWAYS a different cost so right now I have it as 0.00 in the price level list and chose for it to be marked at 5% higher than the cost. 1.jpg

 

2.jpg

 

3..jpg

 

Anonymous
Not applicable

Estimates and Reimbursable Expenses

Hi there, @TMichelleA2.

 

Thanks for getting back on this thread and providing some screenshots in adding markup for your transaction. Allow me to step in and help share additional information.

 

In QuickBooks Desktop, it'll use the weighted average cost to determine the value of your inventory and the amount debited to COGS when you sell inventory. To indicate the 5% markup, you'll need to enter the cost amount on the item. You'll also have to indicate the price level on the payment settings of the customer. Please see screenshot below.

 

 

 

Once you created an invoice from the outstanding billable costs, the markup will automatically show.

 

pricelevel2.PNG

 

This should help get you in the right track when creating the price level list.

 

If you need more information about inventory assets and COGS tracking, you can always check out this article: Understand Inventory Assets and COGS tracking.

 

Keep me posted if you have additional questions about creating a mark up percentage for different customers. I'll be here to help. 

 

 

 

 

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

@Anonymous , @Charies_M , @Anonymous , @FritzF I greatly appreciate everyone's help in this matter, however, apparently something I'm doing is incorrect. 

  1. Price Levels have been set up (Picture One)
  2. Here is a list of examples of my Price Levels per this customer (Picture 2 & 3)
  3. Create Bill that ties to the Price Level category I chose (Picture 4)
  4. Now I will create the invoice that should tie the 5% increase based off the cost of the bill per my Price Level Rules for this customer. And this is what happens (Picture 5 & 6)

Can any of you tell me what I'm doing wrong? I can't tie multiple price levels to a customer, only one price level. Is that correct?

 

Thank you very much for your help.

AlcaeusF
Moderator

Estimates and Reimbursable Expenses

Hello TMichelleA2,

 

I appreciate your time here in the Community. Allow me to step in and help you with any additional questions you may have concerning your transactions in QuickBooks Desktop.

 

I've taken time to read the thread from the start to ensure I'll be able to provide you with what you need. Before we start, I want to let you know that you're on the right track with manually adding the markup price on the invoice.

 

The amount for the bill would also be $500 and $550 for the invoice. By doing so, you'll be able to balance the transaction with a markup included.

 

For your question regarding the Price Levels feature, yes, you can only assign one per customer. If you want to offer different prices for different customers, you can use Pricing Rules which is available to QuickBooks Desktop Enterprise version 14.0 and later.

 

For additional insight into Advanced Pricing, such as  Price Rules, I'm adding an article that I recommend:

 

Use Advanced Pricing.

 

Please keep in touch with me here should you need any further assistance concerning the process. The Community always has your back.

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

@AlcaeusFthank you for taking the time to try and help me.

 

I'm currently on QB Enterprise Platinum version 19. I'm utilizing the price rules. These suggestions are not working. I even purchased the "Advanced Pricing" from QB yesterday with NO luck. The representative wasn't sure why it wasn't adding the mark up with the price rule we created. After spending over 2 hours on the phone I finally said I give up. 

 

These job costing estimates are not working for my company. I can't take the chance that one of my CSR's will forget to mark the invoice MANUALLY for mark up. Plus I have so many different mark up % that this will be time consuming. I'm at a loss!

Mark_R
QuickBooks Team

Estimates and Reimbursable Expenses

Thanks for getting back to us, @TMichelleA2.

 

This must be a challenging experience for you. But allow me to chime in and provide additional information about the price rule.

 

The price rule will not take effect if there's a contradicting one set up. Example, if you create a rule for that item with a 5% markup rate and another rule for the customer with a 10% markup rate, the rule will no take because the system can't decide which one to choose. 

 

To resolve this, you'll need to check the rule for the customer and either to add them or choose which one you want to be implemented.

 

To exclude the contradicting rules, please follow these steps below:

 

  1. Go to List.
  2. Select Price Rule List.
  3. Choose the item.
  4. Click the drop-down button beside Price Rule.
  5. Select Edit Price Rule.
  6. In the Options section, check the box beside Exclusive Rule.
  7. Hit OK.

 

 

Once done, it'll exclude all the contradicting rules that set in your company.

 

Please keep me posted on how things go with this. I'm here anytime you need further help.

TMichelleA2
Level 1

Estimates and Reimbursable Expenses

@Mark_R

@AlcaeusF 

@Anonymous 

@Charies_M 

@Anonymous 

 

After long conversations with QB support team we have come to the conclusion that you can't create a price rule without a set dollar amount in the cost or sell price. It can't be blank for the mark up to apply. I will have to manually enter in the mark up for every item that ties to the estimate. This is so sad. I greatly appreciate every single one of you spending the time to help me out. Hopefully QB will fix this issue. However, I've found that the desktop team does not implement suggestions like the online team does. Years and years there have been requests for the employee name to flow onto the invoice if it's a billable time, however, the desktop team have not been able to accommodate, yet the online team has. 

 

Thanks again everyone. 

Michelle

KhimG
QuickBooks Team

Estimates and Reimbursable Expenses

Thank you for sharing your thoughts, @TMichelleA2.


I’m taking note of your feedback and pass it along here on my end. Rest assured, I’ll personally update the thread for any information or changes related to this.


In case you need additional assistance in the future, visit the QuickBooks Community help link for reference: QBDT Self-help.


That should do it. Reach out to me if you have any other concerns, I’m always here to help. Wishing you and your business continued success!

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