cancel
Showing results for 
Search instead for 
Did you mean: 
Merhill770
Level 3

Please help

Our company gives service not sales.. 

Repairs and maintenance..

The company buys products to give a service.. 

I recorded the products in quickbooks as an inventory. when we get new order of products I create a bill. 

My question is how to record when I used one of the products? It's not a sale. And there is only the cost and service.

Please help..

Solved
Best answer February 24, 2022

Best Answers
Rainflurry
Level 12

Please help

@Merhill770  

 

Inventory is used when selling the product.  If you are consuming it as part of a service you provide, it's not considered inventory and you want to record it as supplies expense or something similar.  Assign the supplies expense account to the bill and you should be good to go.    

View solution in original post

7 Comments 7
RCV
QuickBooks Team
QuickBooks Team

Please help

Thanks for checking in with us, Merhill770. 

 

We can set up Cost of Good Sold as an account in Chart of Accounts instead of an item in Products and Services. First, create an account to track your inventory value: 

  1. Go to the Gear icon at the top, then Chart of Accounts.
  2. Select New.
  3. Choose Current assets from the Account Type drop-down.
  4. Select Other current assets from the Detail Type drop-down.
  5. Press Save and Close.

 

Then, create an account to track your cost of goods sold. I'll show you how below:

  1. Go to the Gear icon at the top, then Chart of Accounts.
  2. Tap the + New Plus icon. 
  3. Choose Cost of Goods Sold from the Account Type drop-down.
  4. Select the closest type of Cost of Goods Sold that matches your situation from the Detail Type drop-down. If you're not sure, use Other Costs of Service - COS.
  5. Press Save and Close.

 

To learn more about this one, check out this article: Can I track inventory manually in QuickBooks Online?. If you're trying to set up a COGS account for an inventory item, then you can add it under the Expense account. To do this, create an item by following the steps below:

  1. Go to Sales and choose Products and Services.
  2. Click New.
  3. Select your preferred Product/Service information.
  4. Fill in the necessary information and make sure to choose COGS under the Expense account.
  5. Click Save and close.

 

For more tips and other resources, you may visit our page in managing your business in QuickBooks: QuickBooks Online Self-help articles.

 

I'll be right here to continue helping if you have any other concerns or questions about QuickBooks. Assistance is just a post away. You have a good one.

Rainflurry
Level 12

Please help

@Merhill770  

 

Inventory is used when selling the product.  If you are consuming it as part of a service you provide, it's not considered inventory and you want to record it as supplies expense or something similar.  Assign the supplies expense account to the bill and you should be good to go.    

Merhill770
Level 3

Please help

But if the company buys a lot of peaces, parts it needs to give the service. How can they track the quantity of each part (that is available when you use inventory)??? There is a lot of parts that I want to know the quantity and the expenses.. for example auto repair and parts..

ZackE
Moderator

Please help

Thanks for following up with the Community, Merhill770.

 

You can use your Bundle feature to track parts and pieces.

 

Here's how:

  1. In the left navigation bar, go to Sales, then Products and services.
  2. Click New.
  3. Choose Bundle.
  4. Enter its necessary details.
  5. Specify the appropriate items in your PRODUCT/SERVICE field and be sure to enter their quantity in the QTY column.
  6. Select Save and close.

 

I've also included a detailed resource about working with bundles which may come in handy moving forward: Create a bundle

 

Please don't hesitate to send a reply if there's any additional questions. Have a great day!

Merhill770
Level 3

Please help

 if I need to import the invoices from online store website like Part Authority (where I bought the supplies) to excel or quickbooks , how could I do that?

Mark_R
QuickBooks Team

Please help

It looks like this is a duplicate post, @Merhill770.

 

My colleague Candice C already shared her answer to your concern regarding importing invoices from an online store. You can check her response through this link: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-export-invoices-from-onl....

 

The QuickBooks Community team is always here to help if you have any other concerns or follow-up questions. Have a good one, @Merhill770.

AlcaeusF
Moderator

Please help

Hello Rainflurry,

 

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

 

We love to see members supporting one another! Have a great day.

Need to get in touch?

Contact us