About this lesson
Let's explore how to add, edit, merge, and inactivate accounts within the products and services list.
Download this lesson’s related exercise files.3.01 adding-inactivating-editing-and-merging - Exercise.docx
61.1 KB 3.01 adding-inactivating-editing-and-merging - Exercise solution.docx
Adding, inactivating, editing and merging
The products and services list is the list of products and services you sell your clients.
When to use
As your business grows and evolves, you may change the products and services you sell. This module will show you how to edit this list to fit your needs.
Getting to the products and services list:
- Click on the big gear in the upper right hand corner
- Under the column called lists, click on products and services
NOTE: some of these are only available to subscribers of Plus or Advanced editions of QuickBooks Online. The sample file we're using for the demo is the Plus edition.
- Sales description
- Sales price
- Quantity on hand
- Reorder point
Optional Columns found in the little gear:
- Income account
- Expense account
- Inventory account
- Purchase description
- Quantity on PO
Actions you can take for each product/service:
- Make inactive
- Run report
Merging a product/service:
- Find the product/service name you wish to keep, copy this name
- Find the products/service name you wish to merge with the other
- Click the blue hyperlink on the right that says edit
- Paste the name you previously copied into the name field
- Click save and close
Adding a new product/service:
- Click on the green gear in the upper right hand corner
- Choose the type of product/service you're adding
- Add a name for this product/service
- Add a default description for this product/service
- Assign an income account
- Use the dropdown to indicate if this product/service is generally subject to sales tax or not
Hints & tips
- A common frustration I see is that income is being posted to the wrong account on the chart of accounts. In many cases this happens because the wrong income account was picked during the set up of the product/service. To quickly see the income accounts you've chosen/assigned to product/service, click on the little gear on the right side, then select income account. Now you'll see the income account associated with all the products and services listed below.
- You can expand or shrink the width of columns by clicking on the line between two columns and then dragging it left or right.
Lesson notes are only available for subscribers.