QuickBooks POS: Using Margin and Markup to Set Prices

Today we will talk about margin and markup. This will help you make sure if you are making profit or not. Let’s begin:

  1. Go to “Department List”, then click “Add”.
  2. On your Add Department screen, fill in every Department information.
  1. On your Tax Code choose Non-taxable.
  2. Put the Margin percentage number for the item you want.
  3. After you put the margin percentage you will have an automatic number for your Markup percentage, but you can still edit it to the number you want for your markup.
  4. Select “Save”.

Let’s see now how your Margin and Markup works:

  1. Go to “Item List”, choose “Add”.
  2. Fill in every information about your new item.
  3. When you put the Average unit cost for your item it will automatically give you the markup number for your Regular price.
  1. You can also select “Pricing” if you want, to change your Regular price.
  1. Also, you can change Price levels and Price calculations here.
  2. Click “Save”.

Original Article: https://blackrockbusiness.com/quickbooks-pos-using-margin-and-markup-to-set-prices/?feed_id=3308&_unique_id=6217ade9b537d

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Peter Eastvold - BlackRock Business

Peter Eastvold - BlackRock Business

BlackRock Business is a progressive company centered on helping small and medium businesses alike. We are a proud Intuit Solution Provider (QuickBooks / POS).