If you are running a business, chances are that you are selling some sort of product or service. If so, in just a couple of minutes you will learn how to set up products and services in QuickBooks Online. Initially, you will just need to select the inventory type as either Inventory, Non-Inventory, Service, or a “Bundle” which is a collection of products sold together (almost like an “assembly” for those of you familiar with QuickBooks Desktop). As a side note, the option for inventory item tracking is only available in the “Plus” and “Advanced” version of QuickBooks Online.
When you get into creating the product you will have the ability to add details like product descriptions, SKU’s, cost, sales price and pictures, and the income account that this product needs to be associated with. Once you hit “Save and Close” you will have created your new product. If you have lots of entries to do at one time and you have the items formatted in Excel or .csv, you can do a batch upload and import them all at one time.
Don’t have a QuickBooks Online account?
If you don’t have a QuickBooks Online account or need help setting one up, you can call us at 866.949.7267 or click here to send us an email, and we can have an account activated for you in just a couple of minutes. All accounts are discounted at 50% off for the first year and if you would like a free 30-day test drive, we can set that up as well.
If you already have an account, then let’s keep going to the video below that will walk you through some of the main features that we mentioned above!
How To Set Up Products & Services in QuickBooks Online