How to Create Item in Quick Books Intuit Enterprise Solution

 

How to Create Item in Quick Books Intuit Enterprise Solution?

Multiple ways to create item in Quick Books 

To create items in quick books either stock able items, non-stock able Services items and manufactured/assembled items etc. follow the simple steps:

To open the item creation form, go to:

List Tab à Item List OR Inventory Tab à Inventory Center à New Item

There are different types of item types defined to create items for specific entity and process for invoicing and billing. On each type of item selection, from changes to display more related and relevant fields for creating item. GL account default setup is more critical here to map with each type of item for automated effects in GL accounts configured and reflection in reporting thereof as per accounting standards.

Chart of items can be categorized upto 5-6 levels but more preferable to have it in 2-3 levels to keep it simpler and more understandable, it will be fine to print on invoice as with more levels item names will cut or come with partial names. Each type of item with its purpose is given in table and also mentioned in item form in quick books as guiding notes.

You can create items based on your business nature and services being provided.

To create an inventory Part item, add the information in each field in this way.

1. Add Name/Barcode of item here
2. Check “subitem of” checkbox if it is child and leave it un-checked if you want to make it parent or standalone item without categorization.
3. Add manufacturer’s part number if it is of such kind of item.
4. Create UOM from UOM setup and select base unit of items being created.
5. Add purchase and sales description to be printed/displayed while billing/invoicing.
6. Provide cost and sale price of item considering the base UOM.
7. Select “Cost of Goods Sold Account/Service” account to charge cost at the time of sale and select tax type applicable on it, if it is taxable item.
8. Select “Income Account” for this item to record revenue in case of sale to reflect it in profit and Loss Account.
9. Stock in Trade account is used to record stock at the time of purchase and its valuation in this account in Balance sheet.
10. You can set global reorder point or Site wise/warehouse wise reorder levels to get notifications/reminders when this item goes to this level or below this level.
11. Custom fields can be created for the item if you want to add further information related to your item.

Other Ways to add Items in Quick Books

On any input form in which item is used/selected, just type the name of item and after Enter/tab press system opens pop-up to get confirmation for creation of item. In this shortcut way you can add item.

Add/Edit Multiple List Entries

Go to List Tab à Click on last Option Add/Edit Multiple List Entries

Select Inventory Parts/Non inventory parts from dropdown menu and customize columns from right corner button. Just Copy each column from excel sheet and paste in each respective column and save at the end. System will save data and show errors in red in case of any issue in data.

    Note/Tips

• If you categorize items in parent/child relationship then first save parent items and in second round save child items.
• For duplication of items will not be allowed, so avoid giving same names.
• For repetitive data/info like you have to map same GL accounts for multiple items, just click on that information and right click to choose “Copy down” option.

Thank You!