QuickBooks for Mac 2014 User’s Guide 62
5 Enter an item name or number. What you enter here appears on the list of items when you are filling
out a sales form or purchase order. Enter a name or number that will help you distinguish this item
from all the others on the list.
6 Enter a description of the item. The description prefills on sales forms or purchase orders when you
use the item. Enter the description, as you would like your customers — or vendors — to see it.
7 Enter the rate, price, or amount:
o
Service—The RATE for the service. The amount can be either a flat fee or an hourly rate. If you
purchase this service, enter the vendor's rate. If you sell this service, enter the rate you charge
your customers.
o
Non-inventory part—The PRICE of the part. If you purchase this part, enter the vendor's price. If
you sell this part, enter the price you charge your customers.
o
Other charge—The AMOUNT of the charge. You can enter either a dollar amount or a
percentage. If the amount is a percentage, be sure to include a % sign.
o Enter an account for the item:
o
Sales—The name of the INCOME account you use to track income from this item.
o
Purchases—The name of the EXPENSE account you use to track purchases of this item.
8 (Sales only) If you don't charge sales tax for this item, clear the Taxable checkbox.
9 (Optional) Fill in any custom fields that apply to this item.
10 To mark an item as inactive, select the Inactive checkbox.
11 Click OK.
Creating items for inventory
Use inventory part items to represent materials or parts you buy, track as inventory, and then resell. You can keep
track of how many items remain in stock after a sale, how many items you have on order, your cost of goods sold,
and the value of your inventory.
To create items for inventory:
1 Choose Lists > Items.
2 Click the + at the bottom of the list.
3 Choose Inventory Part from the Type pop-up menu. If Inventory Part isn't on the list, you need to
turn inventory tracking on. Choose QuickBooks > Preferences and then click Inventory. Select the
“Inventory and purchase orders are active” checkbox.
4 Enter an item name or number. You may use letters or numbers, up to a maximum of 31 characters.
The item name you enter here appears on the Item list you choose from while entering a sale or
purchase. It prints on invoices, sales receipts, estimates, or purchase orders only if you print Item
columns.
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