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How to Adjust Prices in QuickBooks 2011

QuickBooks 2011 understands that times change, and prices might, too. QuickBooks provides a couple of handy commands and tools that you can use to change the prices that you charge customers for your products and services.

Using the Change Item Prices command

The Change Item Prices command, which appears on the Customers menu, displays the Change Item Prices window. This window lets you change prices of a bunch of different items at one time by an amount or percentage:

  1. Mark the items whose prices you want to change by clicking the Check Mark column.

  2. Enter an amount or percentage in the Adjust Price of Marked Items By (Amount or %) box to specify how much you want to change the price.

  3. Click Adjust on the right to make the adjustment.

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Using price levels

Price levels 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 use them when you create an invoice.

Creating a price level

Here's how you create a price level:

  1. Choose Lists→Price Level List.

    QuickBooks displays the Price Level List window.

  2. Click the Price Level button and choose New on the Price Level menu.

    QuickBooks shows you the New Price Level window.

    image1.jpg
  3. Type a name for your price level in the Price Level Name box.

    Make sure the name is descriptive enough for you to understand what the price level will do.

  4. Select the items to which you will want to apply the price level by clicking them.

    If it's a general price level that'll be used for all products, click the Mark All box.

  5. In the Adjust Price of Marked Items to Be boxes, indicate the standard price increase or decrease that this price level will put into effect.

  6. Use the Round Up to Nearest drop-down list to tell QuickBooks how (or whether) to round the resultant calculation.

  7. Click OK.

Using a price level

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. QuickBooks turns the Price Each column into a drop-down list. Click the arrow button that opens the drop-down list and choose a price level (or the base rate price). QuickBooks adjusts the price for the price level change.

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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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