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Level 1

I have the basic QB Online. I'm an interior designer. I want to have COGS and LABOR. I also want to have the ability to mark up both. Do I need to upgrade to Plus?

 
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QuickBooks Team

I have the basic QB Online. I'm an interior designer. I want to have COGS and LABOR. I also want to have the ability to mark up both. Do I need to upgrade to Plus?

Hi @ kendraboneadams,

 

Yes, you'll have to upgrade your account to the Plus version of QuickBooks Online (QBO). This version allows you to track inventory under the COGS account. It also has the ability to make purchases billable where you can set a markup rate.

 

I’ll guide you on how to enable the markup feature in QBO:

  1. Go to the Gear icon and select Accounts and Settings.
  2. Choose Expenses.
  3. Click Bills and expenses.
  4. Put a checkmark in the box beside Markup with a default rate of % and enter your specified percentage.
  5. Click Save and Done.

 

 

In case you're interested with our Projects feature, refer to this link: Set up and create projects in QuickBooks Online. This link explains how to track income and expenses and calculate your profit job by job.

 

Don’t hesitate to drop a comment below if you have further questions. More power to your business!

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