Item is anything that your company buys, sells or resells in the course of business, such as products, shipping and handling charges, discounts and sales tax (if applicable). It shows up as a line on an invoice or other sales forms. This article provides an overview of QuickBooks Desktop Items. It discusses different item types and ways to create, modify and remove items.
These are the common fields for all item types.
Purchase Information and Sales Information
The following additional fields appear when:
These fields appear when Inventory is selected as item type.
You can create an item without leaving the Invoice or the Sales Form. Just enter the name of an item that has not been setup and click Yes (for Windows) or Set Up (for Mac) when you get the prompt asking if you want to setup the item.
Note: You can click Default at any time to return to the preset columns for the list.
There are two ways to create multiple inventory or service items.
Notes: This item must be entered in the Employee Profile under Additions, Deductions, and Company Contributions to show on the Employee Paycheck appropriately
After you create an item, you can edit information about it at any time.
You can change an item's type if the item is a Non-inventory part, an Other Charge item, or an inventory part.
Note: This is only available in QB for Windows.
Your business may require the creation of a large number of similar items. Save time by making a duplicate, or copy, of an existing item, modifying it, then saving it with a new name.
Sometimes it is necessary to adjust amounts that are posted to specific items, rather than just accounts. Since adjustments done using Journal entries cannot use items, we need to use other transaction types such as Write checks for item-based adjustments.
With WIP job costing, for example, an item used during a long-term project (e.g. construction) and posting to an asset account may need to be replaced later by another item posting to an expense or Cost of Goods Sold (COGS) account. Similarly with Deferred Revenue or Advance Payments on a long-term project, items posting to liability accounts may need to be replaced later on with other items posting to income accounts. These changes may occur at the time the project is completed, for example, as revenue or costs may not be recognized until this point. Another example where this type of adjustment may be necessary is when the wrong sales tax item has been used. Sales tax liability adjustments post only to accounts and do not affect the items themselves so another transaction type (such as a Sales receipt) must be used.
Note: This type of adjustment works best for certain types of items, such as service, sales sax or other charge items. Caution should be used before using this method with non-inventory and especially with inventory type items.
To create a zero-dollar check (or Sales receipt), first we must create a Bank type account which will be used only for this type of adjustment.
Next we need to create the adjustment itself. Use ONE of the following methods to enter the item adjustment.
To create a zero-dollar check:
To create a zero-dollar sales receipt:
Note:If there is no Deposit to account field, you will need ensure the check box for Use undeposited funds as default deposit to account
If you mistakenly entered the same item twice but with different name, you can merge them so that all of your transactions are associated only with one item name.
For good record keeping, QuickBooks will not allow you to delete an item if it’s ever been used in a transaction. If you no longer use or sell the item, it’s better to just hide it.
To delete an item:
If you are using QuickBooks Premier Or QuickBooks Enterprise, you can create, build and work with inventory assembly.
QuickBooks for Mac, QuickBooks Pro and Premier: Up to 14, 500 items (active and inactive).
QuickBooks Enterprise Solutions: can handle unlimited number of items.
Note: If you want to check the total number of items you have, go to the Product Information window by pressing F2 key.
You can use up to 31 characters for each item name.
QuickBooks for Mac, QuickBooks Pro and Premier: Up to 20 individual items
QuickBooks Enterprise: Up to 500 individual items
QuickBooks Premier: Up to 100
QuickBooks Enterprise: Up to 500
If you are using QuickBooks Pro, you cannot create new inventory assembly items. You can view and edit inventory assembly items from the Item list in any edition of QuickBooks, and you can also view and edit the transactions that use them.
If you create an item as a Discount type, this item will appear as a negative amount when you use it on an invoice. Discount items should only be used to subtract a percentage or a fixed amount from a total or subtotal. Once you create an item as a Discount item, you cannot change it to another type. If you have created a Discount item by mistake, the best solution is to delete the Discount item and create a new item using a different type.
You can't use discount items on purchase orders or bills. They will not appear in the Item drop-down list. A workaround for this is to create an Other Charge item and enter a negative fixed amount (percentages will not work), for example, -10.00, in the Amount or % field.
You must create a subtotal item if you ever want to apply a percentage discount or surcharge to several or all items on an invoice. Because QuickBooks calculates percentages only on the line above, you must subtotal the items before entering a discount item that calculates on a percentage basis.
Price levels let you set custom pricing for certain customers or jobs. Once you create a price level and associate it with one or more customers or jobs, each time you create an invoice, sales receipt, sales order or credit memo for those customers or jobs, QuickBooks automatically pulls up the correct custom price for a customer or job. Discount items can be used on any invoice.
No. If you change the price of an item, it will not affect existing transactions.