I’m delighted to have you here in the Community.

I can help you with your concern about updating sales prices/rates in QuickBooks Online (QBO).

You can update the rates of your products and services without creating new ones. That said, your past sales transactions will not be affected by this. Nonetheless, QuickBooks will use the new or updated rates for your future transactions.

Follow the steps below, to do so:

1. Go to the Sales menu and Products and Services.
2. Find the product or service item and click Edit under the Action column.
3. Update the Sales price/rate, then tap Save and close.

Moreover, you'll want to check these articles. These will give you more info on how to manage your products and service items in QuickBooks Online:

• Add product and service items to QuickBooks Online
• Change product and service item types in QuickBooks Online

That’s it! You can now create transactions with your updated item rates. Should you need further assistance with products and services, please don’t hesitate to post them. Have a good one!