Like many accountants, our client list includes businesses across numerous industries and only seem to have one thing in common, they do not like change, especially to their accounting system. Sometimes it can be the smallest feature that provides the user the greatest value, a lesson we quickly learned when we discovered Markups were unavailable on estimates online.
Markups (the amount added to the cost price of goods to cover overhead and profit.) have been a part of QuickBooks Desktop and QuickBooks Online for years, but their online functionality was limited to invoices with billable items and expenses. It wasn’t until we converted an interior design company that the true complexity the markup column played in her ability to confidently bid on a project, and win. With a new appreciation for the level of importance, we spent hours searching for a workaround for the missing column until we started to dig into two-sided inventory items and purchase orders and finally with Intuit’s new bundle feature.
It turns out that Bundles were just the magic we were looking for. Depending on how we structured the bundled items, we discovered we could control the information being present to the client. After spending a little time with our client, the interior designer, we created a couple inventory & markup bundles on an estimate template reducing the amount of time spent generating new estimates.
As they say, good accounting is a work of art, and while my perspective may be a little different on how to use bundle items, we thought we should share the idea with our fellow artists as a solution to using markups on estimates