Hi everyone
As per the title, I have just started using quickbooks and I would like a little help to get organised the right way so I have a few questions. Sorry if this is long winded.
To give you a brief idea, I want to know how much I am spending per month on materials but rather than all under one umbrella, I want to split it into categories, I also want to do the same for sales.
I'm a sign maker, the majority of my purchases are vinyl, boards, ink, paper, tape, knife blades etc. All these are expenses which I understand but to get better deals with suppliers, they always ask me how much I am spending on vinyl, boards, ink etc. If I could say to them, I spent x amount on vinyl last month that would be great and allow me to negotiate better.
From what I understand, I need to add each product into Chart of Accounts as an Expense but does it really matter what I choose for detail type? I'm guessing I just add these as Supplies and then give it the name to match the item, i.e. Vinyl , Boards etc. Is this right?
Not sure what I do about the little items such as tape (I use this to hold graphics in place), blades (to cut the graphics) etc, maybe Sundries?
The same goes for sales. I sell many products such as vehicle graphics, shop signs, labels, business stationery etc, as per my purchases, it would be nice to see if I could track my sales per category i.e. I sold x amount worth of vehicle graphics but only x amount of business stationery. That would help me with advertising and what I am doing right/wrong.
When I create an invoice or estimate, I click product/Service > Add New > Service
I then don't know what to choose. I'm guessing this is so I can set it up to pre fill out the invoice by selecting the service dropdown list on the invoice/estimate so it automatically fills in the description, price etc. Is this the case?
If so, let's say I sell 1 printed board for £25, if the buyer wanted 20, I would give the buyer a better price. Would I add a service for all options i.e. 1 fluted 600x800x4mm board printed, 20 fluted 600x800x4mm boards printed, 50 fluted 600x800x4mm boards printed or do I add it someone as a discount?
When adding a new service, What is Category? What is Income Account?
If I was to add a new category Vehicle Graphics, Would I call the service i.e. Full Wrap vehicle graphic, Part Wrap vehicle graphic etc? or is category for something else?
Thanks
