Periodically companies need to change their selling prices on their items due to increased costs. Going into QuickBooks and manually updating multiple items can be time consuming and you also run the risk of errors. Did you know that you can use the item list import within Transaction Pro importer to easily update prices on existing items? Read below for more information.
In this example lets say that a decision has been made to increase all selling prices by five percent. First you will need to go into your QuickBooks company file and run the Item Price List Report (you can find this report under the Customer & Receivables section) and export this report to excel.
Once the report is exported to excel I added a “New Price” column and created a simple formula to increase the price column by five percent.
Then you would start Transaction Pro Importer and select the import type of Item List. When you get to the Transaction Pro Importer mapping screen you would just map the item and new price columns. Please note that since you cannot change an item type on an existing item in QuickBooks the item type field is not required.
After completing the import we re-ran the Item Price List and you can see all the prices have been updated.
Please also note that you can also use this list update feature for customers, vendors, employees and other names as well. Some real life examples that you might want to use this for are listed below.
- Customer List: Update customer account numbers.
- Vendor List: Update vendor list for Tax Id information.
- Employee List: Update notes.