This is ridiculous. The problem is you don't have it on QBO, we all know it is available on the desktop version of quickbooks. Wishing I stayed with desktop or went with another software. It shouldn't be that hard of a issue to put that feature on QBO as well as fix the importing of your own custom invoices that doesn't work.
Thanks for joining in this thread, javi909.
Allow me to step in and help provide some additional information about the markup feature in QuickBooks.
I understand how the option you're looking for would be beneficial to your business. However, this isn't available since the markup feature has a different function in both QuickBooks versions.
In QBO, the markup will base on the Cost of Good Sold (COGS) vs Income, so it will calculate how much an estimate is projected to cost and profit. While in QuickBooks Desktop the mark up will auto-calculate base on the Cost and Sales Price of the inventory item.
Please know that you're always welcome to post if you have any other concerns about the markup feature. Wishing you and your business continued success.
Question on what you wrote...
"In QBO, the markup will base on the Cost of Good Sold (COGS) vs Income, so it will calculate how much an estimate is projected to cost and profit." WHERE DOES IT CALCULATE HOW MUCH AN ESTIMATE IS PROJECTED TO COST AND PROFIT??? THAT'S WHAT WE ARE ASKING FOR...
"While in QuickBooks Desktop the mark up will auto-calculate base on the Cost and Sales Price of the inventory item." YES I KNOW THIS...IT SHOULD ALSO DO IT ON THE ONLINE VERSION SINCE IT ASKS FOR US TO ENTER THE COST AND SALE PRICE OF EACH ITEM...THATS ANOTHER THING THAT MAKES NO SENSE..WHY DOES IT ASK US FOR THE COST OF AN ITEM (WHEN WE SPECIFY WE GET IT FROM A DIFFERENT VENDOR FOR RESALE) BUT IT DOES NOT CALCULATE THE COST? IT DOES NOTHING WITH THE COST WE ENTER ON EACH ITEM ON THE ONLINE VERSION.. IT MAKES NO SENSE. THIS FEATURE NEEDS TO BE ADDED PERIOD. THE ESTIMATE FEATURES SHOULD BE EXACTLY THE SAME ONLINE AS THEY ARE ON THE DESKTOP VERSION PERIOD.
@javi909 FEATURES SHOULD BE EXACTLY THE SAME ONLINE AS THEY ARE ON THE DESKTOP VERSION PERIOD.
That might be true if QBO were developed directly from QBDT but Intuit History 101 will teach you that QBO was not invented in house by intuit but was purchased from outside and the last dozen years have been all about how do we make this white elephant behave
"In QBO, the markup will base on the Cost of Good Sold (COGS) vs Income, so it will calculate how much an estimate is projected to cost and profit. While in QuickBooks Desktop the mark up will auto-calculate base on the Cost and Sales Price of the inventory item."
I agree! I attempted to go back to desktop, however while the customer can convert their data from desktop to online, it does not allow us to convert the data from online to desktop. So you are at the mercy of support to do this transition for you. I had them do mine....could not work for 3 days while they were doing it. In a small business where I am the sole office/accounting/HR staff that is hard to do. Anyway, after the conversion I went to Quickbooks desktop and uploaded the file they sent me thinking I would probably have to perform some tweaks here and there. NOPE! Since we use multiple currencies, EVERYTHING that was paid out in a foreign currency (although it was converted in my original file to the USD amount) was entered in the desktop as the FOREIGN CURRENCY AMOUNT. I would have had to go back and change 4 years of foreign transactions to the USD amount. After 3 days being down, I had no time for that and have not had the time to devote calling back in once again and going through whatever is necessary for them to fix it. Its like once you sign up for the online, you are held, hostage. These days with cloud storage, the online really isn't necessary considering you can just save a back up to a cloud server/drive and pull it from anywhere. However, I wonder if after doing the online updates for the software, the payroll portion of the in order to perform Direct deposit which would be more economical? With the payroll portion and the quickbooks advanced, I am paying $200 a month!
I'm shopping for an alternative.
I find it extremely insulting and offensive that Intuit gives fake answers that aren't even related to what we are asking for just so they can mark the case/complaint resolved. In other words, shut us down so they can keep the new sales coming in.
I will post what I intend to switch to once I narrow it down. There is one I am pretty excited about but waiting for a Demo that I scheduled for next week.
Looking forward to your post!
In this new badly designed forum, when you click "Reply" under a post, you would think that the post you're replying to is referenced in your reply, but it is not. So other readers don't know what it means
Still NOT part of QBO.
Let's make this very simple.
Go open QB Desktop. Create an invoice or estimate.
You will see item cost, markup (which can be percentage or specific amount) and selling cost.
It's that simple.
Whereas - if you open QBO and try to do the same, there is only Selling Cost as entered into the Products and Services section.
Why is this important?
Perhaps I'd like to give a customer a discount to match some online price, but I don't want to go below my costs. I shouldn't have to open 2 or 3 windows to see product costs just to figure this out.
Also - I'd like to know my margins while I'm creating estimate or invoices - JUST LIKE DESKTOP.
Now then, please go fix this. It's been requested for months or longer.
Any response other than specific solution and resolution date is wasted response on your part.
Thanks for joining this thread, @BSPPro.
I understand how this feature is beneficial to your business. I'll submit a feedback statement directly to our product developers.
To stay current on any news and updates in QuickBooks Online. I encourage you to visit our QuickBooks Blog.
Should you have any other concerns @BSPPro, always feel free to post a comment below. I'm always around to help.
I'm new to this thread and posted a similar question today before I read this. My wife is an interior designer and insists on the markup and margin features she had at another studio before going on her own. I saw some postings on an app or add-in that might work - any suggestions there?
I've checked that you've posted the same question twice. You can check through this link: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/can-i-create-a-sales-estima... .
Let me know if you have any other questions. I'll be right here to help!
Hi, simple. Qbo plus if setup in settings to use any of two features, the fifo (first in first out ) or average cost feature, then the field in product/item becomes inactive ( you can enter anything there if you want or leave it at zero, because qbo plus calculates the costs. Yes,It needs to show these calculated costs to users during invoice, eatimate creation. However,You can see this calculated cost, just enter all items in estimate or invoice, click save, then in "more options" at bottom bar click transaction journal ? Or something like that it's called. I use this info and go back and change sales prices manuay. Yesss... We need markup feature. Every product category its own mark up setup.
We want to ensure you'll get the best service while also ensuring you'll get the help needed, @Blanston44.
I want you to know that I hear you and your voice matters. I'll be passing along your requests directly to our product developers by creating a feedback ticket.
As a way around, you can integrate one of our third-party apps to manage your estimate with markups. While waiting for updates, visit the following links below for reference:
Keep me posted in the comments if you need any other help. Always got your back here in the Community.
It's amazing how QBO does not care. They might put might that not a lot of people are replying or reading this thread... but what abut the thousand of people that look for it, do not reply here and just switch to a different software. Such a critical feature to have, and QBO not putting any weight on it. This software os truly made for the one man self employed companies that don't ever think about expanding. If you are a one man show and simply need to keep track of cost vs income. this is for you.
If you are looking for an actual accounting software to look at sales, profit etc. PLEASE, get something else. USELESS software far too OVERPRICED.
Why do we need to pay for additional add ons when something that is essential, critical should be included is the most simple Accounting software? This is already over priced. Thanks, but no thanks. We will be switching back to Desktop.
Markups on an Estimates is a valuable tool for making sure small business owners are making a minimum profit on the products and services they provide. The ability to add markups to products and services is important to make sure the overall project makes a profit. It is available in the desktop version and it needs to be added to the online version too. Markups allows owners to play with different aspects of base costs to be competitive. It turns many users away from the online version. I implore QBO to add the markup function to estimates.