You wouldn’t use the parent inventory item of Sinks for any purchase or sales transactions, and it wouldn’t have any quantity information. For instance, you might create a parent inventory item for “Sinks.” Each different type of sink would then be a separate inventory item and designated as a Sub-product of Sinks. Sub-product: You can organize inventory items into groups of similar products.SKU: You can record the product’s SKU number.
Picture of item: You can upload a picture of the item. Name: Give the item a name for your internal use that will help distinguish this item from others. Inventory items allow you to keep an eye on stock levels as items are sold so that you know when to place an order with the supplier.Īfter clicking on Inventory (A), you’ll be able to provide the inventory details below: Select this option if you need to track the cost and quantity of items that you buy and sell. Step 2: Navigate To the Products and Services List Cost charged to you by the subcontractor. Description of service to print on purchase forms. If you purchase the service from a subcontractor:. Whether the sale of this service is subject to sales tax. Sales price or rate you wish to charge customers. Description of the service to print on sales forms. You’ll need the following information for all services that you sell: Quantity at which you wish to reorder the product. Initial quantity on hand prior to starting to use QuickBooks. If you wish to keep track of the quantity of this item, you need:. Whether the sale of the product is subject to sales tax. Preferred vendor for purchasing the product. Current price at which you can buy the product. Price at which you wish to sell the product. Stock keeping unit (SKU) number (optional). Description of product to print on purchasing forms. Description of product to print on sales forms. For example, don’t have one item for “sinks.” Instead, have separate items for each model of sink you buy and sell.Ĭollect the following information on your products: Include all products you buy and/or sell, even if you don’t need to keep track of exact quantities, such as nuts and bolts. QUICKBOOKS TUTORIAL INVENTORY HOW TO
How to Manage Credit Card Sales With a Third-party Credit Card Processorįirst, you’ll need to gather the necessary information for your products and services. How to Manage Credit Card Sales With QuickBooks Payments How to Reconcile Business Credit Card Accounts How to Manage Downloaded Business Credit Card Transactions How to Enter Business Credit Card Transactions Manually Part 5: Managing Business Credit Card Transactions How to Handle Bounced Checks From Customers How to Transfer Funds Between Bank Accounts How to Manage Downloaded Banking Transactions How to Enter Banking Transactions Manually How to Set Up the Products and Services List How to Set Up Invoices, Sales Receipts & Estimates How to Customize Invoices, Sales Receipts & Estimates
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