Create service items to sell in QuickBooks Online.
- [Presenter] Before you can start raking in revenue, you have to tell Quickbooks online about what you sell. That way when you add those items to bills, invoices and other forms, the software can keep track of everything for you. Let's start by creating items for services you offer. To do that, we're going to head up to the top right and click the settings icon, which looks like a gear. On the drop down menu, beneath the list's heading, choose products and services.
Now when you do that you see this very simple screen because we don't have any products or services yet. All it has is a button to add a product or service. Let's go ahead and click that to create our first service. On the panel that opens up, choose service to create a service item. Now we've got fields to fill in to describe this service. The first one is the name. So I'm going to type setup. In addition, you can fill in a SKU.
So I'm going to type in SV-100. If you want to categorize your items, click the down arrow in the category box. Notice we have no categories yet. So I'm going to click add new. And then I can fill in the name. And we're going to call it Catering Services. Then I click save. And now I've categorized this item. The next thing I have to do is give information related to sales.
The first one is: I sell this product service to my customers. And that's turned on, which is what we want because we do sell it to the customers. So I have to fill in a description that's going to appear on sales forms. I'm just going to call it Events Setup. Next, you can specify the price or the rate that you charge. Now if it's always the same, then fill it in in this box. But in the case of setup, it could vary from event to event depending on how big the event is.
So we can leave that box empty and then you fill in the amount that you want when you create an invoice for the customer. Next, we're going to select the income account. Right now it's set to sales. But I want to click the down arrow and instead I'm going to choose the sub account Service Income. We're not quite done. I want to scroll down and there are two more fields. First, there is taxable, and that's turned on but this service isn't taxable so I'm going to turn that off.
And then finally, if you purchased this service from somebody else, you have to put in purchasing information. I'm going to turn the checkbox on just to show you what this looks like. You can fill in a description that will go on purchase forms. Then you can fill in the cost when you purchase it and the expense account that you want to use. But in this case, employees are doing this service so I'm going to turn off that checkbox. And I can go ahead and click save and close.
Now that we can see our products and services table, there are a couple of other items that were already setup. Hours and sales. Notice that you can sort the table in different ways. Right now the table is sorted by name and you can tell because there's this upward pointing triangle. That means it's sorted in ascending order. If you want to sort it in descending order, click that heading again.
The triangle switches to point down. And you can see that it's sorted in descending order. It also makes it more obvious how the categories work. So you can see that setup is part of catering services. If you wanted to sort by SKU, you would just click that heading, and you can click it again to change between ascending and descending. But I'm going to go back to sorting by name. You can also filter by typing something in this find products and services box.
Or if you want to print the list, go to the top right of the table and click the printer icon. And that's how you create services in Quickbooks Online.
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- Choosing a QuickBooks Online edition
- Setting up customers and vendors
- Setting up billable expenses and time
- Paying bills
- Creating invoices
- Handling refunds
- Depositing payments
- Handling downloaded online banking transactions
- Running and customizing reports
- Automating recurring transactions