Understanding Item Lists and Creating Items in QuickBooks

This ITEM TYPE is used to help you categorize certain items under a common group. First we need to understand what is the Non-Inventory part in the Item Type all about. As mentioned in the article previously, the non-inventory Part is used for the goods you purchase but do not need to track. This could include the office supplies like stationary or furniture etc.

In this chapter, you’ll find information that you need to set up customers and vendors, as well as understanding quickbooks lists setting up items you sell or buy. Finally, at the end of the chapter, you learn where to find other lists you might need. QuickBooks Setup (which I discuss at some length in Chapter 2) doesn’t actually get QuickBooks completely ready to use. You also need to enter additional information about your products, employees, customers, and vendors (and a handful of other items) into lists. In this chapter, I describe how you create and work with these lists. I also describe how you clean up some of the accounting messiness created when you enter information into these lists.

Is there a way to make a report of specific items from my item list. I have a very large item list and I want to only print certain things from it to transfer to an excel spreadsheet. It might already exist if you created your file with the Express Start discussed in Chapter 1, “Getting Started with QuickBooks.” What becomes … This goes a long way in helping you better understand your purchases as and when you are dealing with the vendors.

Chapter 1: QuickBooks: The Heart of Your Business

• This is the Products and Services businesses, let us get to know a bit more about this in details.
• If you have been using one of the QuickBooks desktop products and have all your lists set up, you can import the list information.
• The magnifying glass lets you search your historical transactions and the drop-down lists recent ones – – a very useful feature for quickly recalling recently finished work.

Like its cousin the QuickBooks Desktop product, QBO relies on lists to help you store background information that you’ll use again and again. For the most part, you enter information about the people with whom you do business — customers, vendors, and employees — and the stuff you sell or buy. But you also store other background information in lists, such as the accounts your company uses and the payment methods your company accepts.

Part 3: Managing the Books for the Accountant

Personally, I prefer using the second method so I only have to focus on one task at a time, rather than try to juggle two activities at once. If you ever get stuck, click on the Help Center button or ask questions here in the community.

If you take a look into each of the above business types, you will observe that these do not sell any physical goods to the consumers or the customers. Instead, these businesses offer you their services and you need to pay them accordingly. The rate of growth of QuickBooks Desktop company data files varies significantly from company to company. There’s no “average” or “typical” data file size since businesses track different information.

Chapter 9: Paying with Plastic

You can connect your bank accounts to QuickBooks Online and the program automatically downloads the last 90 days of transactions. No more double data-entry on already processed credit card transactions (including systems like PayPal). The video also introduces the concept of lists, and in this case, the customer and item lists (to learn more, check out “Adding Items to Lists in QuickBooks Online”). Before you start entering transactions on your own, watch this video in its entirety and let it all soak in – – understanding QuickBooks Online’s unique accounting process is key at this early stage.

• If they’re stored electronically, you might be able to save yourself some setup time in QBO if you import them.
• If you’ve been running your business for a while, you probably have lists of customers and vendors.
• Like its cousin the QuickBooks Desktop product, QBO relies on lists to help you store background information that you’ll use again and again.
• However one needs to bear in mind that you will not find the Inventory Assembly is only available in QUICKBOOKS PREMIER and  QuickBooks Enterprise, but is not available in QuickBooks Pro.

QuickBooks Encyclopedia – Basic Accounting Definitions

If you’ve been running your business for a while, you probably have lists of customers and vendors. If they’re stored electronically, you might be able to save yourself some setup time in QBO if you import them. “Setting up for Success” is a series of snack-sized summaries based around task-oriented video tutorials, curated around specific accounting workflows and the fundamental concepts behind them. Each article includes several brief video tutorials meant to be watched in successive order – utilize them as a whole or pick the specific areas you wanted to get started with. QuickBooks Desktop Enterprise 17.0 and later versions allow you to add up to one million names (customers, suppliers, employees) and up to one million items (for example, inventory, non-inventory, and service items). Some performance degradation is likely as your lists approach these size thresholds.

QuickBooks Online For Dummies, 2nd Edition

Also, this comprises of the an order for a specific customer and is billed to that customer directly. Here’s the max amount of entries you can have for each list in QuickBooks Desktop for Windows. If you’re missing a list type, it’s because some of these are only available in newer versions of QuickBooks Desktop for Windows. Learn about the maximum number of list entries you can make in QuickBooks Desktop.

The Magic and Mystery of Items

Now let us understand how these business types are used and implemented into the QuickBooks software. Also,  let us get to know how all these aspects are added onto the QB. For this at first, there is a specific module within the QuickBooks that allows us to be able to easily add Inventory item list or also known as the ITEM LIST. Making online banking a fundamental part of your workflow alleviates a huge amount of manual data entry –- and if you deal with hundreds of transactions every day, this saves a ton of time. Instead, you’re simply tasked with double-checking QuickBooks for occasional errors. The ideal use of QuickBooks Desktop is to keep at least two years of detailed transactions in a company data file so that you can compare reports and have prior-year project information.

Using them to keep track of things like customers, suppliers, services, inventory items, and non-inventory items. Each type of list can have up to four levels of child accounts and an unlimited number of child accounts under a parent account. QuickBooks offers several methods for tracking and reporting on your accounting data so you can review how your business is doing financially.

Reader Services

Unfortunately like I said I have a very large item list and picking each item is going to be long and tedious. When this list was originally set up (before me) they didn’t take any consideration to listing properly and all of my items are bunched together. Yes, you can run the Item List report and modify its filter to show specific items from your overall lists, Kathy.

However, the only different or the unique feature in this, is that it comprises of the MANUFACTURER’S PART NUMBER. This needs to be created following the same process as that of the SERVICE ITEM TYPE. However one needs to bear in mind that you will not find the Inventory Assembly is only available in QUICKBOOKS PREMIER and  QuickBooks Enterprise, but is not available in QuickBooks Pro. We will learn about the details of creating the Inventory assembly in the article ahead. Now that we have discussed each ITEM TYPE and what they stand for, it is time to understand how to incorporate each of these into the QuickBooks. I have created staff welfare ledger wrongly under group current Liabilities, now I want to change that grouping to indirect expenses, so please help me how to edit ledger grouping.

The magnifying glass lets you search your historical transactions and the drop-down lists recent ones – – a very useful feature for quickly recalling recently finished work. You may also choose Excel to download the report to a spreadsheet. View all O’Reilly videos, virtual conferences, and live events on your home TV. To understand the impact and benefits of this upgrade, Schedule a Meeting with an Expert at your convenience day and time. As the name suggests, this allows the QuickBook to be able to calculate the discount if and when offered for any product or sales. You will observe from the Window image above, that the NON INVEMTORY ITEM TYPE  very much similar to the SERVICE ITEM TYPE.

So, you see, the user needs to be able to understand the ITEM TYPES and what each of them are all about. Likewise, you should also be able to use the ITEM LIST created in the right manner so as to be able to acquire the clear, accounts details and also Vendors Module with in the QuickBooks Account. Next important ITEM TYPE that we need to create is the Inventory assembly. To understand a bit about the inventory assembly; one needs to know that it is the entire cost of the raw materials that you are utilizing in order to create the finished product/products for sale.