Thanks Maria your solution sounds simple, but you do not understand the problem.

When we import the Excel file with updated prices QBO will not allow us to overwrite records that already exist (all of them). The Item Name is highlighted in red. 

The fix (QBO Agent) was to make all items "inactive" (one page at a time OMG! this is bad) and then import the file. This works but the Class is now missing on all items.

Next Agent advised make all inactive items active, copy Class field from old record to new and the make old active items inactive. Days of work and much time and money wasted.

QBO need a simple way of performing a global price update.  URGENT!