Setting Up Price Rules in QuickBooks® Online

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 Hello everyone. Jayme Shuda here from Mahoney CPAs & Advisors.

Today I’d like to talk to you about using price rules in QuickBooks® Online. Price rules are used to offer discounts or special rates on products or services you sell to your customers.

An example might be offering wholesale pricing to some customers and retail pricing to others. Another example might be offering a 10% discount for a Black Friday sale on all of your products.

Today I’m going to show you how to set that up and use it in QuickBooks Online. If you’ve never used price rules before in QuickBooks,the first thing you need to do is set up the preference.

So in order to do that, you need to go to the gear icon to Company Settings. Scroll down to the Sales and down to Products and Services. Here is where you’ll find “turn on” Price Rules. Toggle this on.

You’ll see that I already have mine toggled on. Then exit out of your preferences screen.

The next thing you need to do is go back to the gear icon to All lists.
Scroll down to Price Rules. Click there.

And here is a listing of the price rules I already have set up. If you’ve never set up a price rule before, you’ll see a welcome screen first.

Now I’ve already gotten started on my price rule. I’m going to show you how I set it up here. Under the edit screen, you’ll see that I’ve named my price rule first: Black Friday 10%.

Here I have the option of choosing specified customers or “All customers.” In this example, I’m using all customers. For products and services I could have specified the products and services I wanted included,or choose all. In this example, I’m going to choose all.

And I’m offering a price adjustment of a percentage discount. I want to decrease by 10%, and I didn’t choose a start date because I want it to start right away for my example purposes. An end date I’m going to choose 11/25.

Now, when I saved this price rule, what it did was adjusted all of my product pricing. Here’s my standard pricing, $100 and $200 for product A and product B. Notice that the adjusted price is just 10% lower. So that’s what it will do to all of your products and services…by applying this price rule.

So save and closing here, I want to show you what happens on the customer side. So, if I go to a customer and I choose “create an invoice,” and I sell product A, again it’s going to come up at the Black Friday discounted price of $90 rather than $100.

So that’s how price rules work in QuickBooks Online. Follow me for more details. Thank you.