Price Rules (aka Price Levels) in QuickBooks Online

How to set up and use special pricing for selected or all customers in QuickBooks Online?
1. Setup New Customer Type (Dashboard > Sales > Customers > Customer types > New Customer type).
2. Turn on Price Rules (Gear > Your Company > Account and Settings > Sales > Products and Services > Turn on Price Rules).
3. Setup New Price Rules (Gear > Lists > Products and Services > Drop-down arrow under MORE > Price Rules).
4. Create Invoice or Sales Receipt (Create + sign > Customers) > Select (or use default) Price Rules under Rate column.

Educational and Instructional Video:

QuickBooks Online QBO Price Rules (aka Price Levels) – Special pricing for selected or all customers



Coming QBO Improvement – Price Rules (aka Price Level List on QB Desktop)

Manage your multiple price lists for different customer types with ease.
Eliminates the hassle of maintaining and remembering who gets what price for what items.

To turn the Price Levels ON in QBO (COMING FEATURE):
Gear at the upper right corner > Your Company > Account and Settings > Sales > Products and Services > Show Price Rules drop down on sales forms > ON > Save.

On Customer Information page, new ‘Additional Info’ field (next to Attachments) is added to enter Customer Type and Price Rules.


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Step-by-Step Guidance: create sales receipt template with bundle and enter daily sales summary

In this free video tutorial, you will learn step-by-step instructions on how to create sales receipt template using bundle feature and also how to enter daily sales summary using that template. This video tutorial is specifically designed for retail, service and restaurant businesses. If you’re a bookkeeper or office staff whose job tasks include entering daily sales summary into QuickBooks, this is the video you must watch. Watch this video in its entirety and you will know how to handle daily sales summary the right away.









Copy an Estimate to a Purchase Order


Video Tutorial:


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How to batch switch from service items to non-inventory parts without going into each individual item

You can batch “Change type” from service to non-inventory type or non-inventory to service in QBO. However, for service to inventory or non-inventory to inventory type, you can’t do batch change type, you will need to edit and change one item at a time.

To make batch “Change type” from service to non-inventory type:
1) Click find (little funnel arrow-down)
2) Select “Service” from Type selection
3) Click “Apply” button
4) From the Service type list, Click “All” checkmark
5) “Change type” box should expand (far right corner)
6) Select “Make non-inventory item”

In case, you need to revert back to change type again, follow the steps again.

batch change type 1
batch change type 1
batch change type 2
batch change type 2

You can’t also change batch item list mapped to GL account type in QBO list page. You will need to upload a CSV or Excel file (from gear > tools > import data > products and services).

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Handy reference to inventory item fields

Here is a handy reference on how to fill out fields in an inventory item screen you are creating.

You might not see some of these fields in your inventory item screen depending on your choices in Company Gear icon (upper right corner). You will need to enable Quantity on Hand (QOH) inventory tracking in Company Settings.

From the home page screen:
- Company Gear (upper right corner)
- Settings
- Company Settings
- Sales
- Products and Services
 
Show Product/Service column on sales formsAdds a Product/Service column on sales forms so you can choose from a list of products and services to include.
Track quantity and price/rateAdds Quantity and Rate fields to sales forms so you can track this information for products and services.
Track quantity on hand Lets you track available stock for each product you sell and its related inventory costs.

Click on the screenshots below to enlarge them
inventory tracking settings

Inventory item screen fields

FieldsReference Guide
NameEnter the name of the product item you are selling or Stock Keeping Unit (SKU). SKU could be manufacturer's part name or your own unique product code.
SKUManufacturer's part number or your own unique product code.
Note: You cannot select SKU on sales forms at this time. However, you can search it on Products and Services page.
Upload PhotoRecommended dimensions are 120 x 120 pixels.
Is sub-product/serviceIf the product is a sub-item, select it from the list under parent product name. Do not use parent product name. In our example, "Tools" is the parent product name and "Pipe Wrench" is the sub product item.
Track Quantity on Hand (for inventory items)
I track quantity on hand for this product. This enables inventory cost accounting.
When you select this checkbox, "Initial Quantity On Hand" and "As Of Date" fields will be displayed.
Initial Quantity On HandEnter a zero or actual quantity on hand. Bear in mind!! These two factors must be taken into account when computing actual quantity on hand: 1) all vendor purchased inventory items are recorded in QuickBooks (no unentered vendor bills left); 2) all sales invoices and sales receipts are shipped out (no outstanding shipments left).
Make sure actual quantity you are entering is 100% accurate. QBO is not that friendly when it comes to making inventory adjustments later.

As Of DateEnter "as of date".
Inventory Asset Account
Use default "Inventory Asset" account. It is best not to change it.
Sales Information
Description on sales forms
This is what the customer/client see on all sales forms (invoices and sales receipts).
Purchasing Information
Description on purchase forms
This is what the vendor sees on purchase orders.
Price/RateEnter the price you will sell it for. You can also change this price when creating a sales form.
CostEnter actual cost if you have "initial quantity on hand". Do not create sales form if you have zero Quantity on Hand.
Income account
(Sales of Product Income)
Default is "Sales of Product Income" account. It is okay to select other product income account.
Expense account
(Cost of Goods Sold)
Default is "Cost of Goods Sold" account. It is better not to change it.
Is taxableSelect "Is taxable" checkbox if the product item you are selling is taxable.

inventory fields

 

YouTube Tutorial Video:

#QuickBooks: Can I keep a simple inventory of all shop equipment

Question: Can I keep a simple inventory of all shop equipment in QuickBooks Online?

I need to list all shop equipment we have here in the shop. I just need the item and quantity. We do not sell these items so there are no prices involved, its just the equipment we use in the day to day business.

Answer: Yes You Can!

You will need PLUS plan do this tracking. Essentials and Simple Start do not have tracking features.

First, make sure to enable the tracking feature setting ON.
From the home page screen > gear (company gear) > settings > company settings > sales > products and services > tracking features ON (Track quantity and price/rate and Track quantity on hand) > save

Click on the screenshots below to enlarge them
track settings

Second, create a new dummy Inventory Item called Shop Equipment, then any items you create for the actual “Shop Equipment” (parent) will be marked as sub-items of that dummy Inventory Item.

To create a new item:
From the home page screen > gear (company gear) > settings > products and services > new (upper right corner)

When you create the new items:

  • Select “I track quantity on hand for this product” checkbox.
  • Enter “Initial Quantity on Hand.”
  • Enter “As of Date.”
  • Purchasing Information: enter information for more details (optional).
  • Cost: DO NOT ENTER A COST (leave it blank for the cost field). Equipment Inventory for this special work-around method in QBO cannot track the cost of the item. If you enter the cost your accounting will be totally messed up. It will add value to the Inventory Asset Account.
  • SAVE

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You can also create a customized Equipment Inventory Report if necessary.

To create customize report:
From the home page screen > gear (company gear) > settings > products and services > run report (upper right corner)

  • Select “Customize” button
  • Choose “Change Columns” under Rows/Cloumns
  • Add “Create Date” (this will give you information on when this was added)
  • Remove not needed columns (like description, price, cost)
  • Go to Header/Footer section and change “Report Title” as you need it
  • Run Report
  • Select “Save Customizations” blue button (if you want to create your own customized report for future use). Next time go to report and select “My Custom Reports, this report will be on the list.

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Weekly Price Check US CA UK AU (Plus Plan)

USACanadaUKAustralia
us120x90ca120x90uk120x90au120x90
USD 23.97 per monthCAD 14.50 per monthGBP 15.00 per monthAUD 21.00 per month
USD 23.97 per monthUSD 12.01 per month
(Conversion)
USD 23.30 per month
(Conversion)
USD 16.60 per month
(Conversion)
LOWEST PRICE!