Creating a non-inventory item


show more Creating a non-inventory item provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training show less
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Creating a non-inventory item

If you purchase products specifically for work you're doing for a customer or to stock up your supply closet, you don't need inventory. You purchase those products and use them without ever tracking how many you have on hand. If you buy products specifically for a customer, you can make them billable to your customer. When you invoice the customer, QuickBooks can figure out your profit based on what you paid for the items and what you charged. For products you buy to run your business, the items show up only as an expense to your company.

The money trail for non-inventory is simpler than the one for inventory, because you don't keep these products on hand. When you buy products, the money, say $500, comes out of your checking account and that's a credit in the checking account. The money you spent on inventory shows up in an expense account, because it is a cost you incur. That's a debit in the expense account. Then when you sell products, an income account gets a cred...

Creating a non-inventory item
Video duration: 3m 34s 3h 45m Beginner

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Creating a non-inventory item provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training

Subject:
Business
Software:
QuickBooks
Author:
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