The Advanced Pricing feature in Enterprise was first introduced as an add-on module in 2014 and starting in 2015, became an included feature only available in the QuickBooks Enterprise Platinum Edition. If you are a business that would benefit from automating pricing changes and discounts, this is a worthwhile feature to have as a part of your Enterprise subscription. There are four key features that are included with QuickBooks Advanced Pricing – they are:
Manufacturer Markdowns
This function will allow you to set up specific conditions and discount date-ranges for markdowns. For example, you could create a group of most active vendors that purchase from you and assign all the companies in that group a 10% discount on specific products (or on all your products) for being a frequent customer. You can even create times of year when the discounts are active to create more buying activity around those times.
Quantity Discounts
With QuickBooks Advanced Pricing, you can also create discounts based on the quantity purchased. If a customer purchases 50 to 99 units at a time, they get a 5% discount. From 100 to 150 units, the discount goes to 15% etc. QuickBooks Enterprise will automatically show the new adjusted price based on the quantity ordered.
Scheduled Promotions
Let’s say that at the end of the year, you want to close out certain items in your inventory and do an “End of Year†sale of 30% off. With QuickBooks Advanced Pricing, you can set the start and end dates of the promotion, the discount to apply, and then choose the products to discount. On that date, the products selected will automatically be discounted and will revert back to the original price at the end of the promotion.
Price Changes By Class
If you have certain products or services that you want to have adjusted as a group, you can do that as well. This could be service discounts or certain product lines that you have and again can apply to specific customer groups and for specific dates.
If this feature would be a benefit for your business it is only available in the Enterprise Platinum Subscription package. The bonus is that the Platinum Subscription also includes Advanced Inventory, Advanced Reporting and Enhanced Payroll for free as well, so for many companies that choose this option, you get a lot of additional value all in one package!
