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wakeup
Level 1

how to enter spare parts

Ok say I buy some Oil , spark plugs , and mirrors .  I own a jetski rental business so I usually try to keep a few of these on hand.  When I buy them how should I set this up?

 

The oil , spark plug items I use in regular maintenance

 

Stuff like mirror , I will usually charge customer for it .  But I keep in stock so the jet ski is not out of service for long time while i wait on one. 

 

I use Essentials

Thanks

5 Comments 5
Angelyn_T
QuickBooks Team

how to enter spare parts

Hello there, @wakeup.

 

I can share some insights about how to enter the spare parts in QuickBooks Online.

 

You can use the Bundle feature to track the parts in QuickBooks. Let me guide you on how.

 

  1. From the left menu, click Sales.
  2. Select Products and Services.
  3. Click New, then select Bundle.
  4. Name the Bundle item.
  5. Enter the appropriate items in the Product/Service field and their Quantity.
  6. Click Save and close.

Please make sure that all of your items have been set up first before creating the bundle. Besides, inventory tracking is only available in QuickBooks Online Plus and Advanced. In your case, you can only add the item as a service or non-inventory.

 

If you want to change the item type for a product or service, you can check out the instructions from this link.

 

Let me know if you have any other questions while entering your items in QuickBooks. I'm always here to help. Keep safe!

wakeup
Level 1

how to enter spare parts

That dont work though,  

 

ok say i buy 6 oil filters,  4 months from now i change the oil now the filters are gone. 

 

1. while oil filters are sitting on shelf, its not showing it in the PnL.

2. when I use the filters, i am not charging for them. 

 

As for spare part like mirror, 

1. when i buy it , it dont show up in PnL cause its non-inventory

 

so i must get pro version to track this?

JessT
Moderator

how to enter spare parts

Hi there, wakeup.

 

Yeah, tracking those parts is not a feature in QuickBooks Essentials. I would recommend looking for a third-party app that can handle this process. You can visit the QuickBooks App Store.

 

Feel free to reach back out if you have other questions in mind.

Courage1
Level 1

how to enter spare parts

Hello

if i run the QuickBooks as an accountant and we need to apportion a cost for spare parts used for running a logistics/Transport business

how do i enter such transactions

MadelynC
Moderator

how to enter spare parts

Apportioning the cost of spare parts used in your logistics/transport business takes only several steps, @Courage1.


First, you’ll want to create an expense account for spare parts and then record the purchase amount using the Expense feature. Check out the steps below to do it:

 

  1. In QuickBooks, select the Gear icon.
  2. Go to the Chart of Accounts.
  3. Add a new account under the Cost of Goods Sold or Expenses category.
  4. Record the purchase amount as an expense and assign it to the spare parts account you created.


Then, you can apportion the cost of spare parts by making a journal entry. Debit the appropriate expense account and credit the spare parts account to reflect the value.


Businesses that ship and handle materials are required to keep track of their landed and carrying costs. Knowing your inventory levels and shipping expenses is crucial in reducing outlay and increasing profit margins. This landed cost article provides handy information about the significance of monitoring landed costs, the formulas necessary to calculate your profits and expenses, and tips for cost-efficient inventory management and distribution.


You can visit this thread and add a reply if you need further assistance managing your spare parts and transport company. I’ll be more than happy to help, @Courage1.

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