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How to Adjust Price Levels in QuickBooks 2012

Price levels in QuickBooks 2012 are kind of weird; they let you individually adjust the price of an item up or down. For example, if you’ve agreed to discount items by 10 percent for a certain customer, you can easily do this by using a price level to knock the price down by 10 percent whenever you’re invoicing that customer.

To use price levels, you first have to set up the price levels by using the Price Level list command on the Lists menu. After you set up your price levels, you adjust prices by using price levels when you create an invoice.

Create a price level in QuickBooks 2012

To create a price level, choose the Lists→Price Level List command. When you do, QuickBooks displays the Price Level List window. To create a price level, click the Price Level button and then choose the New command on the Price Level menu. QuickBooks displays the New Price Level window.

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Name the price level change by using the Price Level box. Select the items to which you want to apply the price level by clicking them. (QuickBooks marks selected items with a check.) Then use the Adjust Price of Marked Items to Be boxes to indicate that this price level increases or decreases the sales price some percentage higher or lower than the standard price.

Finally, use the Round Up to Nearest drop-down list to specify if and how QuickBooks should round off its calculations. The figure, for example, shows a price level change that decreases the sales price by 10 percent. If you click the Adjust button, QuickBooks shows the adjusted price in the Custom Price column.

How to use a price level in QuickBooks 2012

To use a price level, you create an invoice in the usual way. However, click the Price Each column for the item that you want to reprice by using the price level. When you do, QuickBooks turns the Price Each column into a drop-down list.

If you click the arrow button that opens the drop-down list, QuickBooks displays both the base rate price and any price levels. If you choose a price level, QuickBooks adjusts the price for the price level change.

For example, selecting the 10 percent price level change bumps the price from $4.50 to $4.05. In other words, the “10 % down” price level change decreases the default price by 10 percent, or $.45.

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QuickBooks also lets you set a default price level for a customer. When such a default price level is set, QuickBooks automatically uses the appropriate price level when you choose that customer. The Price Level box appears on the Additional Info tabs of the New Customer and Edit Customer window.

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