![]() As you can see in the "New Item" window, you can create sub-items, and you can enter the price of an item. Then, for each Item, choose the account to which it will be linked. (Note: some versions of QuickBooks may be slightly different.) For products that you purchase, track as inventory, and resell, choose Inventory Part.įor purchased products not inventoried such as materials for a particular job or products that are shipped directly by the vendor, choose Non-inventory Part. For consulting or professional services, choose Service. At the bottom, click Item and then click New.Ĭlick the drop-down arrow next to "Type" and review the choices displayed. From the top menu line, click Lists | Item List. ![]() You don't want an excess of items, but you don't want to make continual changes because then your QuickBooks reports won't be very useful. Some companies will have items for both services and products, such as a PC repair service that also cells hardware, but many small businesses, such as consultants, may have one revenue account and only a few items.īefore creating items for your business, it is imperative that you sit down and document all of the current product and/or service categories that you would like to track. How Many Items Do I Need?Ī business selling a large amount of products may wish to create an Item for each product type and sub-items to further break down the product type if need be.įor instance, a hardware store could create items for product categories, such as plumbing, electrical, and housewares and then create sub-items to further break down the types of products such as various plumbing parts, etc.Īn item can, if desired, be created for each individual product and the product's price can be specified. And sales per item and sub-item can easily be tracked by built-in QuickBooks reports. If a business collects sales tax, separate items must be created for each city and state in which the company sells products. In fact, some businesses may have hundreds of items per each income account. Multiple items may be associated with the same account. Sub-items may also be created.Įach item is linked to an account - usually a revenue (income) account. Items are required in QuickBooks because they are used when creating invoices, sales receipts, refunds, and credit memos. For most users, QuickBooks "Items" can be defined as "categories" or "types" of products and/or services that a company sells.
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