Cost : Enter the average cost per unit for the items that you have.Enter a description to be used when you sell the part. Enter a description that will be used when you buy the part. You'll also have to specify the following information: If the item type you're adding is an Inventory Part, you must specify how much to charge for the part, how much it costs, and which income account to use to track it. Now, let's talk about the item types that you can add in a little more depth. Next, choose an income account that you want the item linked to in QuickBooks.Ĭlick Save when you're finished, or click Next to add another item. ![]() #Quickbooks memorized transaction list is invalid code#In the tax code drop-down menu, select whether or not the item is taxable. If you fill in the Preferred Vendor field, QuickBooks will fill in the name of the vendor on a purchase order when that item is selected. We'll learn about accounts later in this course.Īssign a vendor in the Preferred Vendor field. In our example, we're assigning it to the Cost of Goods Sold. In the Expense Account field, choose the account to assign the item to. This can be changed at the time of entry into an invoice, or when paying a bill if you need to change it. Enter the description into Description on Sales Transactions if this is an item you sell. Enter the description into Description on Purchase Transactions if this is an item you buy. To do this, choose the Sub-item Of box, then assign a parent item to it.Īlso, add a short description of the item. These are items that go within other items. For sales taxes that are collected in a transaction and owed to different agencies. However, you add this item if perhaps you customers puts down a deposit when they buy, but before they receive the product. You don't have to use this if it confuses you. A discount that you give customers after the invoice is subtotaled. It's helpful to do this if you sell products as sets. This can be used to enter several items that are already on the list at one time. This will add everything before you add tax, discounts, etc. Freight, handling charges, and things like that would be classified under this. It can also be for something that you don't sell, but that you buy, such as office products. This is for something that you sell, but don't want to count as inventory. If what you're classifying as an item is a raw material that you use to make other items. If this is something you buy from someone else, then sell, classify it as this. If this item is a service that you charge for, select Service. The first thing you need to do in this window is select an item type from the Type drop-down list. Press CTRL+N (N for new) to bring up the New Item Window. To create an item list, go to Lists>Item List from the menu bar. These items need to be included in your Item list. This includes products, services, sales tax, shipping and handling, subtotals, discounts, etc. Remember this: Everything that you could possibly add to an invoice or purchasing order is an item you need to put on your list.
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