New Inventory Product Setup: Unique Identifier QBO Plus

KT_HM · ‎September 09, 2023

Looking for some advice on how to set up products/inventory (imported wine) as a new QBO Plus user to track and report on a unique product identifier. For each product (bottle of wine), there are four unique specifications/identifiers that I want to track and report on for future state excise tax requirements. For example, for every bottle of wine that is sold with under 17.259% ABV (alcohol by volume), a percentage of the volume sold are due for excise taxes at the end of the period (month). The end goal is to pull a report via QuickBooks sales for every bottle sold with this unique identifier. Because the excise tax is calculated by volume sold, and in QBO the product will be sold by the unit, the calculation for the excise tax will be calculated manually from the QBO sales report. I am wondering whether to do this with class, category, or tag, custom field, or something else. I don’t want the information to show up on a customer’s invoice. I appreciate the community’s input.

JessT · ‎September 09, 2023

Hello again, KT_HM!

Thank you for posting your question with more details about the items you sell and the specifications so you can generate a report that will be the basis for tax calculation.

Since QBO can only do per unit sold, you that's the only thing we can setup. You can have one item per bottle size. Then, it's up to you on how to determine the ABV out of the sold units.

I would recommend contacting our QBO Support team on this matter so you can try setting up the items while sharing your screen.

If you have other questions in mind, feel free to go back to this thread.

KT_HM · ‎September 09, 2023

Respectfully, in my post I pointed out my understanding of selling by the unit, which is what I will be doing. My question is how to create a unique identifier that is specific to a product type so that I can pull reports. I am trying to understand if category, class, or custom field, etc. is the best option.

ReymondO · ‎September 09, 2023

Thank you for your response and for clarifying, @KT_HM. Let me help you track this product in QuickBooks Online (QBO).

It appears that the most suitable choices would be either utilizing the Class or Category features. Choosing either of these won't display the information on your customer's invoice but can be included in various reports.

For class tracking, you can generate the Sales by Class Detail report to view the identifier. Simply navigate to the Reports section and access the report from there.

sales by class.PNG

Alternatively, if you prefer to utilize the Category field, you can run the Sales by Product/Service Detail report as an option.

sales by product.PNG

In addition, when you run sales or inventory reports, products and services are grouped by category. You can expand or hide each category and quickly find details for specific items.

Please know that the availability of our support services depends on the product you're using. For QBO Plus users, our support is accessible Monday to Friday, from 6 AM to 6 PM PT, and on Saturdays from 6 AM to 3 PM PT. If you would like to reach out to our support team, you can contact us using the phone number provided in the Get help if you can't sign in to your account section of this article: QuickBooks Online Support.

Moreover, I'd recommend reaching out to your accountant to ensure you're following the best accounting practices. They can provide you with expert guidance on tracking your sales effectively in QuickBooks.

Our community consists of friendly and knowledgeable members always ready to assist. Whether you have specific inquiries or seek general advice, please don't hesitate to ask. We're here to support you!

KT_HM · ‎September 09, 2023

Many thanks. After researching a bit more and watching some videos, that is exactly what I plan to do — use the class feature. I appreciate you taking the time to read my initial inquiry and responding.

RoseJillB · ‎September 09, 2023

You’re always welcome, @KT_HM.

I’m glad to hear that my colleague’s response along with the tutorial videos helped you recognize the feature you want to use in tracking your product item in QuickBooks Online (QBO). Rest assured that every concern posted in this forum is addressed accordingly.

Please don’t hesitate to come back if you have any QuickBooks-related concerns. Have a good one!

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New Inventory Product Setup: Unique Identifier QBO Plus