I know a way how to set up income items in QuickBooks Online (QBO), Hdhammond22.
In QBO, we'll need to create new a product or service item and select the account you want to use to track the sale from the Income account dropdown option. Let me guide you on how:
- Go to Sales, then select Products & services.
- Tap New and select Non-inventory or Service.
- Enter a Name for the product or service and an SKU, if you track them.
- From the Category ▼ dropdown, choose the category that best describes your product or service.
- If you sell the item, confirm the checkbox is selected for I sell this product/service to my customers. (If you don’t sell the product or service and want to track how much you spend on it, go to Step 2 below and start at item 3.)
- Enter a description in the Description on sales forms field.
- Enter an amount in the Sales price/rate field. If you charge a variable rate for services, you can leave the Sales price/rate field blank. Then add the price when you fill out the invoice or sales receipt.
- Choose the account you want to use to track the sale from the Income account ▼ dropdown. We can use an income account QuickBooks has already set up for you, or click the + Add new to create a new income account.
- In the Sales tax section, sales tax is applied by default based on location.
- When you're done, press Save and Close.
You can check out this article for more details about setting up product and service items you buy and sell, but don't track as part of your inventory: Add product and service items to QuickBooks Online. Just in case you need to change the income account for any of your product or service items, you can follow the steps and details in this article: Change the account for a product or service item in QuickBooks Online.
In addition, here's an article to help you track the items that you sell in QBO: Set up and track your inventory in QuickBooks Online.
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