How to Add a New Item Inventory in QuickBooks Pro
QuickBooks, allows you to set up a detailed list of your services and inventory items that easily make invoices for your products and services and can track the quantity, sales revenue, and cost of goods sold for your inventory items. You can also create your own list by Adding Service or Inventory in Quickbooks Pro. And can track the quantity, sales revenue, and cost of goods sold for your inventory items.
It includes services like accounting, consulting, cleaning, education, treatment, transportation, etc. This includes hiring a bookkeeper or an accountant to help you with your QuickBooks.
QuickBooks maintains the records for a business like Inventory asset account, cost of good sold and Account Receivable.
- Enable inventory tracking
- Click “Edit” from the toolbar and then “Preferences” from the dropdown list.
- Select “inventory and service” option.
- Click “Company Preferences” for options.
- “inventory and purchase orders are active” must be checked you can opt to have a warning about duplicate purchase order numbers and “OK”.
- Create an inventory items record
- Click “List” select “Item List” from the drop down menu.
- Click on “Item” and then “New” to add a new inventory record. From “Inventory Part” fills information, regarding an item and part number, purchase information, cost, etc.
- Click “OK” when finished.
- Add the item to the inventory
- Click “Vendors” and then “Vendor Center”.
- Select “New Transactions” and click on “Receive Items” to enter inventory that you’ve already paid for. If not, click on “Receive Items and Enter Bill” to generate billing and time.
- Check the “Billable” box for billable items.
- Click on “Save and Close” .
Services that you provide to your customers and you can easily create the services. These services are charged by the hour or job.
Inventory is the product that you buy with the intension of selling so, that product is your inventory. In Easy Step if the inventory is not enabled or if it is activated in the inventory section and items in the preferences then it is not available.
Different types of services/products
- Services- These are like tutoring, landscaping, or support, etc that you provide to your customers.
- Inventory items- The products of which you can track quantities or also buy/sell are called inventory items. Tracking quantity on hand option needs to be selected for the items.
- Bundle- The collection of the products and services that you sell to your customers are called bundle. These bundle components can also be hide or displayed while sending or printing the transactions as per your choice.
- Non-inventory items- These are the items that can be sell/buy but you are not able to track their quantities.
How to contact us?
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