How to Set Price Levels in QuickBooks Point of Sale?

Steps To Setup Advanced Pricing Rules in QuickBooks

Now that you know what to keep in mind while setting up advanced pricing in QuickBooks, let’s proceed further with the steps to get the task accomplished:

First Step: Enable Advanced Pricing

In the first place, you need to turn the Advanced Pricing feature on, and the following steps can guide your way:

• When in QuickBooks, select Edit, followed by selecting the Preferences option.
• Next, you need to select Company Preferences from within the Sales & Customers tab.
• Now, in Custom Pricing, you are supposed to select Enable Advanced Pricing.
• Here, you need to tell QuickBooks how you want your price rounding to be handled.
• If you don’t want to use rounding, select Don’t Round Prices.
• In case you want to use the same rounding for all price rules, click Use the same rounding across all price rules option.
• Thereafter, you can select a rounding option.
• Alternatively, if you want to set the rounding for each price rule separately, select Set rounding on each price rule.
• In the end, click OK to confirm the changes.

Second Step: Create Price Rules 

After turning on Advanced Pricing, you can set up the price rules. While setting up the rules, you can use the conditions based on items, customers, class, and sales rep. On the contrary, you can create override rules if you want to exclude certain items from a price rule. Below are the steps:

• Select the Lists option, and after that, select Price Rule List.
• In the next step, select the Price Rule, then click on New.
• Using the Price Rule Name, you can enter a name for the rule.
• Now, in the Description box, give a brief description of the rule.
• After that, select Add (+) to add a condition.
• Here, you can define whether the condition applies to Items, Customers, Classes, or Sales Reps.
• You can add more conditions by repeating the same set of steps.
• Enter the date in the From area to bring the price rule into effect.
• Enter the date in the To area to bring the rule to an end.
• You can now enter the amount or percent to increase or reduce the price based on the item’s base price or cost.
• You can make the price rule exclusive by selecting the Exclusive Rule option. Keep in mind that QuickBooks doesn’t combine the exclusive rule with any other rules.
• In case you want to set custom prices for specific items, select the Price Overrides option.
• After selecting the required options, click OK to save the changes.

Third Step: Manage A Price Rule (Edit, Delete, or Disable)

After creating the price rule, there should be some settings that can help you manage the rules. Well! QuickBooks has it, and you can access it by following these steps:

• Select Lists and then select Price Rule List in the next step.
• Thereafter, right-click on a price rule.
• You can now choose any of the following to execute a desired action:
• Select Edit Price Rule, and it will help you edit the rule.
• Click on Delete Price Rule, and it will delete a rule.
• Lastly, you can disable a rule by selecting the Make Price Rule Inactive option.

Last Step: Create a Quantity Discount

The quantity discount option in the Advanced Pricing feature lets you create discounts for specific items based on the purchased quantity. For instance, you can lower the price with the purchase of every ten additional items. Below is how you can do it:

• Start by selecting Lists and then select Item List.
• Next, double-click the item for which you want to create a quantity discount.
• After that, select the Qty Discount option in QuickBooks.
• Here, you can enter the minimum number of items a customer must purchase to get the discount in Qty From.
• After entering the number for items, enter the discount amount in Discount %.
• Using the same set of steps, you can create additional quantity discounts for this item. This will help you create an additional level of discount as a specific number of items increases.
• After following the steps, select OK to implement them.