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Hello
We live in WI and we have difficult sales and use tax rules. As an electrical contractor some things are taxable and some I have to pay use tax on. We have well over 1,000 items in our inventory. When working a project that is non taxable, we currently have to look up the cost of each item individually, record this amount on a spread sheet, calculate sales tax and add to the item, then add markup to that. Obviously this is taking WAY too much time to create invoices. I am wondering two things:
1. Is it possible to put item cost on the invoice to only be seen by us. (This would reduce the need to look up each individual item)?
2. If not.... Can I make the item prices the item cost and create different price levels for regular markup versus sales tax plus markup?
Thanks
Solved! Go to Solution.
2. If not.... Can I make the item prices the item cost and create different price levels for regular markup versus sales tax plus markup?
Yes and that is the easiest way to do it, especially if you have premier or enterprise since you can do custom pricing by item rather than all of them.
1. Is it possible to put item cost on the invoice to only be seen by us. (This would reduce the need to look up each individual item)?
yes but it is a pain to do, you create a custom field for cost, then enter the item average cost in that field per item. On the invoice, customize data layout, column tab, enable the field for screen but not for print.
with 1K items this utility might help take some of the pain away
http://www.q2q.us/ucfOverview.htm
2. If not.... Can I make the item prices the item cost and create different price levels for regular markup versus sales tax plus markup?
Yes and that is the easiest way to do it, especially if you have premier or enterprise since you can do custom pricing by item rather than all of them.
1. Is it possible to put item cost on the invoice to only be seen by us. (This would reduce the need to look up each individual item)?
yes but it is a pain to do, you create a custom field for cost, then enter the item average cost in that field per item. On the invoice, customize data layout, column tab, enable the field for screen but not for print.
with 1K items this utility might help take some of the pain away
http://www.q2q.us/ucfOverview.htm
Thank you so much! I have been going round and round with how to handle this!
You're Welcome
Good afternoon
please can someone help me , i recently migrated with the help of MMC convert. conversation with them is
completed but i noticed a few issues which i am struggling to get clarity on.
My inventory items was all entered as a non inventory , with no quantities on hand as per my backup sent to them, i was told that they only enter stock as non inventory and was directed to how to change it to inventory
with the quantities , which i did. i now am sitting with changes to my chart of accounts which is increasing
my stock value ,and also increasing my opening balance equity.
what do i do to get my balances to what it was on my backup balances that was sent to MMC. . thanks
SOLO
I appreciate the details you shared about your inventory concern after migration, Solo.
I'd be more than happy to help you with that. However, I need additional information about the migration process. Can you tell me if you migrated from QuickBooks Desktop to QuickBooks Online or the other way around? This way, I can provide you with an accurate answer and resolution to your query.
I'll be looking forward to your reply. I'm determined to help you get through this. Take care, and have a good one!
Thank you.
i migrated from desktop to online.
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