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Add product and service items to QuickBooks

by Intuit•67• Updated about 5 hours ago

You can track income and expenses for each product or service in QuickBooks. Enter products and services that you sell as items so they can be quickly added to sales forms. This process provides more detailed financial reports and helps you complete transactions faster.

This article focuses on setting up product and service items that you don't track as part of your stock. If you plan to track product quantities, add them as stock items instead.

Note: This article applies to QuickBooks Online and QuickBooks Sole Trader.

Before you begin

Setting up your products and services in QuickBooks helps you speed up invoicing, track sales and expenses more accurately, and run more detailed reports. You only need to add each item once, and you can use them on invoices, estimates, sales receipts, and expenses whenever needed.

Stock item: Products you sell and track quantities for. Stock features are available in QuickBooks Online Plus and Advanced.
Non-stock item: Products or items you buy or sell but don't need to track quantities for. For example, nuts and bolts used for an installation job but not sold directly.
Service: Services you offer to customers (for example: landscaping, repairs or consulting).
Bundle: A group of products/services sold together as one (for example: gift basket). This is available in QuickBooks Online only.

Add a new product or service item

To save time on future transactions, set up your products and services once so they’re ready to use in sales forms.

Note: If you have a spreadsheet of products/services, you can import them all at once instead of adding them manually.

To add a new product or service

QuickBooks Online: Follow this link to complete the steps in product
QuickBooks Sole Trader: Go to Get paid and select Products and services.
Select New.
QuickBooks Online: Select Non-stock or Service.
QuickBooks Sole Trader: Select Product or Service.
Enter a Name, and, if applicable, an Item/Service code.
From the Category ▼ dropdown, select the most relevant category. Find out more about item categories.
Select the I sell this service to my customers checkbox. Leave it unchecked if not applicable.
If you selected the checkbox:
1. Enter a Description (shown on sales forms).
2. Add a Price/rate or leave it blank for variable pricing.
3. QuickBooks Online only: If your price is inclusive of VAT, select the checkbox.
4. QuickBooks Online only: From the Income account ▼ dropdown, select the income account to track this sale. Select a default account or + Add new to create a new one.
5. QuickBooks Online only: If needed, select the correct VAT rate from the Sales tax ▼ dropdown.
  Note: If the dropdown is missing, you may need to set up VAT first.
Select Save and close.

Now you can add the product and service to your invoices, sales receipts, expenses, and other sales forms. You can also track it on your financial reports.

Add purchasing details for a product or service

Note: This feature is only available in QuickBooks Online.

You can track how much you spend on a product or service by filling out the purchase fields in QuickBooks Online.

To add purchasing details for a product or service

You can track how much you spend on a product or service by filling out the purchase fields.

Follow this link to complete the steps in product
Find the item and select Edit from the Action column.
Select I purchase this service from a supplier.
Add a Purchase description that appears on supplier forms.
Enter the Purchase cost. You can change this when creating bills or purchase orders.
If your cost is inclusive of purchase tax, select it.
From the Expense account ▼ dropdown, select the account to track these costs.
If needed, select a Purchase tax from the ▼ dropdown.
Select your Preferred supplier.
Select Save.

Track and manage your products and services

Once you’re all set up, you can easily track what you buy or sell. Here's how to get started:

If you need more supplies, get help with ordering from suppliers.
Get sales insights using these reports.

Edit a product or service item

Update an existing item’s details, such as its name, description, or price.

QuickBooks Online: Follow this link to complete the steps in product
QuickBooks Sole Trader: Go to Get paid and select Products and services.
Find the item and select Edit from the Action column.
Make your changes.
Select Save.

Delete (make inactive) a product or service item

You can make items inactive to hide them from forms and reports without deleting them.

QuickBooks Online: Follow this link to complete the steps in product
QuickBooks Sole Trader: Go to Get paid and select Products and services.
Find the item and open the ▼ menu in the Action column.
Select Make inactive, then select it again to confirm.

Reactivate an inactive product or service

Show hidden items and bring them back into use.

QuickBooks Online: Follow this link to complete the steps in product
QuickBooks Sole Trader: Go to Get paid and select Products and services.
Select the Filter ▼ dropdown.
From the Status ▼ dropdown, select All, then select Apply.
Find the inactive item.
From the Action column, select Make active.
Select it again to confirm.

Change a product or service type

If you accidentally selected the wrong item type (for example, non-stock instead of service), you can edit it by opening the item and choosing the correct type.

Note: If you’re unable to switch item types, you may need to create a new item with the correct settings.