How can Set Up the Products and Services List In QuickBooks Online

How can Set Up the Products and Services List In QuickBooks Online

In Today’s article, We will discuss How you can set up the Products and Service list in QuickBooks Online. We all know that Setting up of products and services helps you to create invoices that will automatically populate the Quantity, description and price of the product or service fields on the invoice and It also help to keep track of your sales by product or service.

Importance of setting up your product and service list in Quickbooks online.

It become very important for you to set up product and service list in Quickbooks online if you are billing your customers for products and services sold. It is also very important if you need to monitor inventory cost and quantities.

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By setting up your services and product list in Quickbooks you will be allowed to do following things.

  • You will be able to track your sales by services or by products. By this feature you will get the complete knowledge about what product is in demand and what product is not selling at all.
  • Time required to create a invoice will decrease a lot as Quantity, Description and price for product or service will be filled automatically in your invoice.

Now, Lets move on to the steps you should follow to set up your product and service list.

Steps to set up the product and service list in QuickBooks Online.

  • First of all, Click on the Gear icon to the left of your company name. Now click on Products and Services is listed below the All Lists columns.
  • After that, From the Products and Service list, click on Blue Button in the upper right to create a new product or service item.
  • Then, Select the Item type like as Inventory, Non-inventory, Service.
  • After that, click on an Inventory and in an Inventory you will get so many fill up boxes. Then you have to fill each box and then save.
  • Now, click on Non-inventory and in Non-inventory you will get so many fill up boxes like inventory. Then you have to fill each box and then save.
  • Click on the Service and you will get so many fill up boxes. You have to fill each box and then save.
  • After that, you can run a report and you can see the entire list from the products and services screen.

Delete a service or product from your list:

If an invoice is created of any service or product then you can not delete that product or service from Quickbooks. It can not be deleted as invoices are linked to the financial statements. We can inactivate any item from our service or product list if we no longer requires them. That means they will appear on the financial reports if used but no longer be visible in product and services list.

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Steps to inactivate an item.

  • First of all go to your service and product list.
  • Tap the drop down arrow near edit option.
  • Select “Make Inactive”

Now the item will no longer visible in services and product list.

I hope you find this article useful. If you have any query related to this or any other topic, you can call QuickBooks Online Support Number +1-855-441-4417.

Watch this video to learn more about How can Set Up the Products and Services List In QuickBooks Online.

 

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