Let's use the Price rules feature so you can increase the price of all your products by 5%. I'll show you how.
First, you need to activate it in your account settings. Here's how:
Go to the Gear icon, then select Account and Settings.
Choose the Sales menu.
Click anywhere inside the Product and services section.
Put a checkmark in the box Turn on price rules Beta.
Select Save and then Done.
Next, create a price rule to implement the increase. Kindly follow these steps below:
Go to the Gear icon, then select All List.
Select Price Rules under Products and Services.
Click the Create a rule button.
Input the Rule name, then select the Start and End dates (optional).
Choose the customers who qualify on the Select customer drop-down.
On the All products and services option on the Select products or services section.
Select Percentage on the Set sales price or rate by section.
On the Percentage section, select Increase, then indicate how much (5%).
Click Apply, then Save.
The price rule will also be applied automatically when you add items and even override it by selecting the rate in your transactions like invoices. For more information, check out this article: Set pricing rules.
Please don't hesitate to leave a comment if you have further concerns about QuickBooks Online features. I'm just around if you need help.