QuickBooks POS: Item Types

Item Types Guide... FREE!

Today you’ll going to learn the different item types such as Inventory, Non-Inventory, Service, Assembly, and Groups. This is very important so that you will know the type of item you will choose for your product. Let’s begin:

1. From you QuickBooks point-of-sale screen go to “Item List”.

1. On your Item List screen click “Add” on the right corner of the screen.

1. Add Inventory Item will appear.

1. Inventory — The most used item in retail. The item is coded to an asset, a cost of goods sold, and an income type account. As the items are purchased the inventory balance is increased for the quantity and cost of the item on the balance sheet.
2. Non — inventory — this is a type of product that is purchased or sold but whose quantity is not tracked. Only have one account and both the purchases and sales are recorded to the one account.
3. Service — no quantities that are tracked. This normally include charges for labor or professional fees that your firm buys or sells.
4. Assembly — is a collection of items in your inventory that you are selling as a bundle. Each item in the assembly is labeled as an inventory part. You can easily display the individual inventory parts of an inventory assembly to ensure you have all the items you need.
5. Group — this is useful for quickly entering a group of individual terms that you have already set up as single items in your item list. Group items are versatile you can choose to print or not print the items within the group, meaning you can track more detail than your customer needs to see.

Original Article: https://blackrockbusiness.com/quickbooks-pos-item-types/?feed_id=3101&_unique_id=61e2db5f11cd1