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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
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.
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!
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?
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.
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
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:
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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