What is an item?
What item types are available in QuickBooks?
QuickBooks items represent everything that can be a line item on
a sale or purchase form-for example, services and products you
sell, things you buy, discounts you offer, and assets you own. You
use items when you create invoices, fill out checks, create
purchase orders, or buy new equipment.
While they provide a quick means of data entry, a much more
important role for items is to handle the behind-the-scenes
accounting. When you create an item, you link it to an account;
when the item is used on a form, it posts an entry to that account
and another entry to the appropriate accounts receivable, accounts
payable, checking, fixed asset, or other account.
While items are easy to set up, you should spend some
time deciding how they can best work for you before you start
setting them up and using them. Use your current list of services
and products as a starting point. Consider how much detail you want
on your invoices or statements and set up your items with that
level of detail in mind. For example, if you are a seamstress who
creates and sells home accessories, you can set up a single item
and charge a flat rate for a certain size of couch pillow, or you
can break that pillow down further into labor and materials.
If you're a QuickBooks Pro
user, you can't 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 want to do more with inventory assembly items, learn how to
upgrade your version of
Choosing an item type and creating the
Examples of items for contractors