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Submitted by: Henaa Lockwood
QuickBooks has so many varied item types. Well, there is some common information about what to enter for all types of items while adding a new item to your Item or Fixed Asset Item within QuickBooks Pro & better only list.
Enter information in QuickBooks; the software uses this information, type of items after you select the item type, QuickBooks urges only for information that is required for that specific item type. Remember: You may not create fixed asset items from the Item list. Always, apply the Fixed Asset Item list to do so. You set up an item, it depends on the type, and you could not be able to alter it to another type. The Item name and code exhibit this name or number on the reports of items & in the drop-down list in the Item field such as on sales forms. Item detail prefills the whole description in the description field of sales or purchase forms. Show the beginning of the detail in the drop-down list in the Item field. You could set up some sorts of items to have various descriptions for sales and purchases. Optional rate or price prefills the rate or price in the Rate or Price fields of sales or purchase forms. Some sorts of items can have a rate which is a percentage. You can fix some sorts of items to have different rates or prices for sales and for purchases. Accounts Profit & loss statements report on the expense or income account associated with items used in transactions. You may set up some sorts of items to have different accounts for sales and for purchases. A few items such as payment items need a balance sheet account instead of an income or expense account. Inventory items need three different accounts. For example, Default Tax code QuickBooks applies GST/PST to the item based upon the rate(s) mentioned in the Tax Code list. You can override this sales tax code on the sales form. The sub item status, If this field appears, you can make an item a sub item of an existing item. QuickBooks shows sub items of the same item together. Custom fields (optional) a user can set up custom fields to fill your companys demands for example, size or unit of measure). You are able to customize sales and purchase forms to exhibit a column for a custom field. Then QuickBooks has fills already the column with the custom field information for the item. If you want to learn about Search the Help index for. Adding a new item for one of the following:
? A service
? An assembled product that you purchase or build yourself
? A product or part that is not held in inventory
? A fixed asset
? A miscellaneous charge
? Items, services
? Items, inventory assembly
? Items, non-inventory parts
? Items, fixed assets
? Items, miscellaneous charges adding a new item for a product or part held in inventory items, inventory
Fixing up a new company Items for recovery of expenses (QuickBooks Pro & better) perhaps a business purchases (services and products) for particular customers or jobs, & then invoices the customer for the items (with or without markup). For example, John is a general contractor that uses subcontractors and invoices for their costs at a higher rate than what they charge him. Christi is an interior designer who purchases mixer grinder at wholesale and sells it to the client at retail. QuickBooks Pro or better only, service items, non-inventory parts, and other charge items each have a checkbox that permits you to pass through their prices at a markup and track costs and revenues in distinct accounts. Then you may track both the expenditures & the earnings for these items for a specific job. For an instance, check box for a non-inventory part is Well the item is bought for and sold to a specific customer: job.)
About the Author: If you do not have QuickBooks Pro or better, use expenditure accounts, not items, for recovery expenses. If you have any issue regarding setting up a new company items, can directly contact to QuickBooks Support expert for assistance 1 (855) 441 4436.Get More Details at
supportforquickbooks.net/quickbooks-support.html
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