QuickBooks Online’s Products and Services Course Description

Your company's success relies on the products you sell and the services you provide. They are the foundation of your business, enabling you to generate revenue and sustain your livelihood.

To ensure your success, it's crucial that your QuickBooks file accurately reflects your stock management and service offerings. QuickBooks Online's Products and Services list serves as a tool for organizing your product lines and customer services.

By setting up this list correctly, you can easily track the popularity and profitability of your offerings, allowing you to identify your best-selling products and services. This valuable insight empowers you to make informed decisions that drive your success and boost your profits.

In addition, QBO Plus and Advanced offer inventory management accounting features. Leveraging the Products and Services list in QBO enables you to track your sales income, inventory assets, and cost of goods sold.

When using QuickBooks, you will create a list encompassing the services you provide and/or the products you sell. These items will be added to your invoices and sales receipts, providing customers with a clear breakdown of their purchases.

Furthermore, you will have the ability to generate reports that reveal your best-selling products and services, providing valuable insights into what your customers want, and which are your most profitable endeavors. Armed with this information, you can make informed decisions on how to grow your company effectively.

Don't miss out on this opportunity to transform the way your business handles products, services, and inventory. Take action now and enroll in this class to gain the knowledge and skills that will propel your company to new heights.

Sign up today and embrace a future of growth and prosperity!

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You’ll Learn About:

• Defining Income, Cost of Goods, and Inventory Asset accounts in the Chart of Accounts
• Setting up your Product & Services list
• Selling services to your customers using Invoices and Sales Receipts
• Using Purchase Orders, Bills, and Expenses to buy products for resale
• Managing Inventory in QuickBooks Online
• Selling subcontracted services
• Running Reports to show your best-selling services & products, and profit margins by revenue stream and customer
• What to do if your inventory needs are bigger than QBO

 After completing this course, you will be able to: 

• Describe the process to set up your Products and Services list correctly
• Recognize the steps to purchase items for resale
• Recall how to use Service items to track subcontracted labor
• Understand how inventory transactions affect the Chart of Accounts, P&L, and Balance Sheet
• Identify reports for sales analysis