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Setting up a custom work item (non-inventory)

If your business occasionally performs custom tasks in addition to fulfilling orders for inventory items, you can set up a special Custom Work item and use it to track income and expenses for the custom work that you do. This allows you to see how profitable custom work is for your organization. If all the work you do is custom work, you may prefer to create multiple custom work items so that you can track the different types of custom work that you do.

To create a custom work item

  1. Go to the Lists menu and click Item List.

  2. From Item List, select New.

  3. In Type, select Non-inventory Part.

  4. In Item Name/Number, type Custom Work.

  5. Click the button next to "This item is purchased for and sold to a specific customer:job."

    With this selected you can add the item to the invoice you create for your customer, and you can also use the item to assign the costs of the custom project when you are entering bills and writing checks. If you use the same item for both invoicing and costing, you will be able to compare the cost of building the custom item with the amount you charge your customer for it. You can use the Job Profitability Detail Report to gather that information. This type of reporting will give you gross profit margin by for each custom-built project.

  6. Leave the Description on Purchase Transactions box blank (you can fill it when you enter a purchase order or bill).

  7. In the Expense Account field, select the Cost of Goods Sold account you want to use for material purchases. (The Manufacturing and Wholesale-distribution sample company files use account 5000 Materials).

  8. In the Description on Sales Transaction box type Use this item to sell goods that aren't kept in stock.

  9. Leave the Sale Price blank or at 0.

  10. In the Income Account enter your Sales Income or Revenue account (the Manufacturing and Wholesale-distribution sample company files use account 4100 Revenue).

  11. Select OK.

See also

10/21/2016 7:52:06 AM
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