Creating and managing your product/service list

The QuickBooks  can help you track all your income from the product and services you offer.

As a business owner who is just getting acquainted with an accounting software, one of the first task you should be more concerned about is how to upload all your product types, quantity on hand, cost of purchase and selling prices.

You can use this item & Services icon to add new items or services, use the sales account to categorize the income from these items.

From the QuickBooks homepage, click Items & Services.

Use this window to set up your product or services

Item Name: Enter the product name.

Cost: Enter the cost of purchase and select an account to categorize the transaction.

Sales: Enter the sales price and also select an account to categorize the transaction.

Click Ok to continue.

You can also use the VAT drop down for both sales and purchase to set up your VAT for this product.