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How to Add Items to the QuickBooks 2010 Item List

You can add a bunch of different types of items to the Item list in QuickBooks 2010. The QuickBooks Item list stores descriptions of anything that you stick on an invoice or purchase order. You describe different items in different ways.

Here's the general process for adding an item to your Item list:

  1. Choose Lists→Item List.

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    The Item List window appears.

  2. Click the Item button, which appears in the lower-left corner of the Item List window, and select New from the pop-up menu that appears.

    The New Item window appears.

  3. In the boxes of the New Item window, describe the item that you want to add.

    First, identify the type of item that you want to add. You have these choices:

    • Service

    • Inventory Part

    • Non-Inventory Part

    • Other Charge

    • Subtotal

    • Group

    • Discount

    • Payment

    • Sale Tax

    Based on the type of item you select, QuickBooks supplies other boxes that you use to describe the item.

  4. After you describe the item that you want to add, click OK.

    QuickBooks adds the item that you just described in the Item list.

Adding a QuickBooks service item

Many of the QuickBooks Service boxes are self-explanatory, but here are a few that deserve explanation:

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  • This Service Is Used in Assemblies or Is Performed by a Subcontractor or Partner: Select this check box if the service is provided by, as the window suggests, a subcontractor, owner, or partner.

    You indicate which services are performed by subcontractors, owners, and partners because these parties are subject to different tax accounting rules.

  • Rate: Describe the price or rate per unit of service.

  • Tax Code: Indicate whether the service is taxable.

  • Account: Identify which Income account should be credited when the item is sold to some customer, client, or patient.

Adding a QuickBooks inventory part

In the Inventory Part version of the New Item window, enter the information requested, including these elements:

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  • Description on Purchase Transactions: Provide the text that QuickBooks writes on purchase orders.

  • COGS Account: Select from the drop-down list the account that should be debited when this item is sold.

  • Description on Sales Transactions: Supply the description that QuickBooks should use for this item on your invoice.

  • Income Account: This drop-down list lets you specify which income account should be credited when this item is sold.

  • Asset Account: Specify which account QuickBooks should use to track the dollar investment in this item.

  • Reorder Point: Identify the inventory stocking level at which you want QuickBooks to alert you to reorder the item.

Adding a non-inventory part

A non-inventory part is a tangible good that you sell but for which you don’t track inventory. In this version of the window, fill in the information, including these elements:

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  • Account: From this drop-down list, identify the income account that should be credited for sales of this non-inventory part.

  • This Item Is Purchased for and Sold to a Specific Customer:Job: If you select this check box, QuickBooks displays a slightly different version of the Non-Inventory Part window.

    image4.jpg

    This version of the Non-Inventory Part New Item window includes Purchase Information and Sales Information areas.

Adding a QuickBooks other charge item

An other charge item is an item that you use to purchase or bill for things such as miscellaneous labor or services, materials that you aren’t tracking as inventory, and special charges, such as for delivery or rush jobs.

Fill in the appropriate information in this window, including

image5.jpg
  • Amount or %: Identify how the charge gets calculated or billed.

    If you want to calculate the charge as a percentage, you must enter the % symbol in the Amount or % box.

  • Account: Identify the income account that should be credited when you bill for this other charge.

If you select the This Item Is Used in Assemblies or Is a Reimbursable Charge check box, QuickBooks adds a second set of boxes to the New Item window: Purchase Information and Sales Information.

Adding a subtotal item

If your purchase order, sales receipt, or invoice includes a subtotal line item, you create a subtotal item in your Item list. Select Subtotal from the Type drop-down list and add the appropriate information.

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Adding a group item in QuickBooks

A group item lets you more easily invoice customers when, from the customer’s perspective, he or she is buying a single item, but from your perspective, you’re actually selling several items. A group item lets you create a single item that you use on invoices that actually combines a bunch of individual items that you’re probably using on your purchase orders.

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Fill in the Group Name/Number and Description text boxes in this window. Use the Item, Description, and Qty columns to identify the individual items and item quantities that combine to make a group.

Adding a discount item

A discount item subtracts either a fixed amount or a percentage from a subtotal. Fill in the requested information, including which account gets debited for the discount from the Account drop-down list.

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Adding a payment item

If you sometimes accept payments when you invoice a customer, you can create a payment item and then add the payment item to the bottom of the invoice. Fill in the appropriate information, including

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  • Payment Method: Identify the method of payment — American Express, check, cash, Discover, MasterCard, or Visa — if that’s appropriate.

  • Group with Other Undeposited Funds or Deposit To: Select a radio button to identify what happens to the money received as part of the payment. If you indicate that the money is deposited, you also select the correct bank account from the Deposit To drop-down list.

Adding a sales tax item

If you sell items that are subject to sales tax, you also include line items on your invoices that charge for and track these sales taxes. Enter the requested information, including Tax Agency, where you identify the tax agency that you'll pay.

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