This item type is used to keep track of goods your company purchases, tracks, or resells.
To add this as an item, you will need to add a new item within the Items app, and choose Inventory Part.
If you do not see the Items app, you will need to get access permission for this app from your administrator. The Items app is found in the Accounting Lists Pack.
Note: Adding this Item type differs depending on whether you use QuickBooks Desktop or QuickBooks Online. Both are outlined below in their respective sections.
QuickBooks Online - Inventory Part
NOTE: Inventory tracking must be turned on in QuickBooks Online before you can create this.
Log into your QuickBooks Online account.
At the top right of your screen, click Settings
.Under Your Company, select Account and settings.
On the left, select the Sales tab.
Select Edit
in the Products and services section.Turn on
Show Product/Service column on sales forms
Track quantity and price/rate
Track inventory quantity on hand
Select Save and close this screen.
To create a new Inventory part, select Inventory Part.
This will open the New Item screen. The fields are described below.
Field | Description |
Item Name/Number | Identify the service by name or by number. |
Category | Choose the item category. |
SKU | The Stock Keeping Unit (SKU) is a unique alphanumeric code used to identify and track inventory items. |
Sales
Field | Description |
| Allow your customer to reorder this item on their customer portal. (Not visible unless Reorders are enabled in the Opportunities App preferences). |
Sales Description | Include descriptions of what will be sold. |
Prices are | Choose whether or not prices are:
|
Sales Price Inclusive | Amount charged for item, which includes the tax. |
Sales Price | Amount charged for this item. Only appears if Exclusive of Tax or Out of scope of Tax is selected. |
Sales Tax Code | Tax code for this sales amount. |
Income Account | Choose account associated with the customer payment. These options are synced from QuickBooks. |
Available for reorders (displayed on portals)Purchase
Field | Description |
Purchase Description | Include a description of what item was purchased. |
Costs are | Choose whether or not costs are:
|
Purchase Cost Inclusive | Price of item purchased, which includes the tax. |
Purchase Cost | The price of the item purchased from the vendor. |
COGS Account | Short for Cost of Goods Sold, the account debited for the purchase of the goods. These options are synced from QuickBooks. |
Preferred Vendor | The vendor you usually use to purchase these goods. These options are synced from QuickBooks. |
Inventory
Field | Description |
Quantity on hand | Inventory in stock. |
Inventory Start Date | The date you start tracking the inventory. Transaction dates must be after this start date. |
Asset account | Choose account used to track the overall value of your inventory. These options are synced from QuickBooks. |
QuickBooks Desktop - Inventory Part
When you select Inventory Part, you'll be taken to the New Item screen. The fields are described below.
Field | Description |
Item Name/Number | Identify the service by name or by number. |
Subitem of | Choose an existing item to associate this item in the dropdown (e.g. a nut or bolt might be a subitem of a larger mechanism being sold). |
Manufacturer's Part Number | Used to keep track of the part number when ordering from the manufacturer. |
Unit of Measure (U/M) | Specify how the amount of parts is measured (for example, in units, sets, etc.) These options are synced from QuickBooks. |
Sales
Field | Description |
| Allow your customer to reorder this item on their customer portal. (Not visible unless Reorders are enabled in the Opportunities App preferences). |
Sales Description | Include descriptions of what will be sold. |
Sales Price | Amount charged for this item. |
Tax Code | Tax code for this sales amount. |
Income Account | Choose account associated with the customer payment. These options are synced from QuickBooks. |
Purchase
Field | Description |
Purchase Description | Include a description of what item was purchased. |
Cost | The price of the item purchased from the vendor. |
COGS Account | Short for Cost of Goods Sold, the account debited for the purchase of the goods. These options are synced from QuickBooks. |
Preferred Vendor | The vendor you usually use to purchase these goods. These options are synced from QuickBooks. |
Inventory
Field | Description |
Reorder point | The number at which inventory must be reordered from your vendor (for example, if your inventory should never dip below 15 units, that is your reorder point). |
Asset account | Choose account used to track the overall value of your inventory. These options are synced from QuickBooks. |
Quantity on hand | Calculated from the items on invoices and sales receipts. |
Quantity on sales order (read only) | Calculated from items currently on open sales orders. |
Quantity on order | Calculated from items currently being ordered from vendors. |
Dimensions
Field | Description |
Item Dimensions: Weight | The physical dimensions of a single unit of product |
Save, Delete, and Inactivate Buttons
When adding or viewing the item, the following buttons are available.
Button | Description |
Make Inactive | Mark the item as Inactive. It will no longer show up in the list when active items are being shown. |
Delete | Permanently remove the item. This cannot be undone. This button only shows if the item hasn't been used in a transaction. |
Save ( | Save button menu. Options below: |
Save | Save the item. |
Save & New | Save the item and clear the screen for a new item. |
Save & Back | Save the item and go back a screen. |
):