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Kate G
Level 1

Setting up inventory and revenue codes

I am working with a client  and am looking at the best way of setting up QBO (or re-setting it!) and I have two questions before I upload my stock and the best way of categorising things. 

 

1.Up until now, all sales have been posted to sales of product income, however I'd like to track revenue by the following categories shop, online, trade and events and hoped to have a revenue code for each. However, when I set up my stock - it looks like I have determine the code, so looks like multiple revenue codes might not feasible. Am I right? If so, is there another way of tracking my sales by revenue type?

 

2. I have a few different price bands for my stock - so whilst the cost price is the same, they have different sales prices. Currently I have to duplicate my stock items for each price band - but ideally I'd just like each stock items entered once (especially important for when it comes to stock counts.

1 REPLY 1
Certified gold trainer
Level 3

Setting up inventory and revenue codes

HI

 

You can do this one of two ways. Either as you say have each product/service feeding into a separate income line on the profit and loss or a group of products feeding into one line another group feeding into another.

Or leave have different product names but all feeding to the one income line and then just look at the income by product reports 

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