QUICKBOOKS COURSE OUTLINE

QUICKBOOKS TRAINING

 001- Introduction to Computerized Accounting

 002 - Introduction to QuickBooks Software
 003 - How to Download QuickBooks Software
 004 - How to Install QuickBooks Software
 005 - Setup New Company File
 006 - Chart of Accounts in QuickBooks
 007 - Chart of Accounts Import from Excel to QuickBooks
 008 - Understanding Item List
 009 - Class Feature in QuickBooks
 010 - Customer Center in QuickBooks
 QUICKBOOKS COURSE OUTLINE

 011 - Vendor Center in QuickBooks

 012 - Employees Center in QuickBooks
 013 - Other Names List in QuickBooks
 014 - Cash Basis & Accrual Basis Accounting
 015 - Journal Entry in QuickBooks
 016 - Write Checks Module in QuickBooks
 017 - Purchasing Inventory Stock through Write Checks Module
 018 - Purchasing Fixed Assets through Write Checks Module
 019 - Recording Cash Sales through Enter Sales Receipt Module
 020 - Create Purchase Orders in QuickBooks
 QUICKBOOKS COURSE OUTLINE

 021 - Record Item Receipts in QuickBooks

 022 - Enter Vendor Bills in QuickBooks
 023 - Pay Vendor Bills in QuickBooks
 024 - Setup Sales Tax in QuickBooks
 025 - Create Estimates in QuickBooks
 026 - Create Sales Orders in QuickBooks
 027 - Create Invoice in QuickBooks
 028 - Receive Payments against Invoices in QuickBooks
 029 - Credit Memo or Sales Return Entry in QuickBooks
 030 - Manage User Accounts in QuickBooks
 QUICKBOOKS COURSE OUTLINE

 031 - Payroll in QuickBooks - How to run Manual Payroll in QuickBooks

 032 - Introduction to Job Costing - Job Costing in QuickBooks
 033 - How to Setup Customer Jobs - Job Costing in QuickBooks
 034 - Allocation of Expenses to Jobs - Job Costing in QuickBooks
 035 - Allocation of Payroll Expense to Jobs - Job Costing in QuickBooks
 036 - An Introduction to Manufacturing - Manufacturing Process in QuickBooks
 037 - Unit of Measure in QuickBooks - Manufacturing Process in QuickBooks
 038 - Inventory Assembly Item in QuickBooks - Manufacturing Process in QuickBooks
 039 - Build Assembly in QuickBooks - Manufacturing Process in QuickBooks
 040 - Overview of Reports Menu in QuickBooks
 LESSON-08
UNDERSTANDING
ITEM LIST
IN QUICKBOOKS
BY MUHAMMAD REHAN : QUICKBOOKS TRAINER
Item list is another important module to understand in
QuickBooks

Item list in QuickBooks are directly linked with

 THERE ARE TWO BASIC THINGS A BUSINESS A CAN DO

Purchase/ sale of products Purchase / sale of Services

But there are also businesses that sell both, products and Services.
 Product based Business

 Commercial importers
 Manufactures All these business type have RAW MATERIAL
 Wholesalers inventory
FINISHED GOODS
 Retailers
 Services Based Business

 There are hundreds of types of businesses which can be categorized under the head
services, some of them are,
 Consultants,
 Doctors,
 Engineers,
 Lawyers,
 Dress designers,
 Gyms,
 Beauty salons,
 Education
 Courier services,
 Transports and many more…..
 SO WHAT IS AN ITEM LIST IN THE QUICKBOOKS ?

 The stock that you are buying and then selling, whether it is a
 raw material
 finished good,
 list of services
 you are providing to your customers, is called “item list” in the
QuickBooks.
UNDERSTANDING ITEM LIST IN QUICKBOOKS
UNDERSTANDING ITEM LIST IN QUICKBOOKS
 UNDERSTANDING ITEM LIST IN QUICKBOOKS

 SERVICES: Use this Item Type for all of the services offered by you or your subcontractors.
 INVENTORY PART: Use this tem Type to record your Inventory List. Inventory is used to track products you make or buy,
place in a warehouse location, and later sell to a customer.
 INVENTORY ASSEMBLY: Use this Item Type to track finished goods, assembled from multiple Inventory Items, as in a Bill
of Materials. When an Inventory Assembly is built, the individual items (components of the assembly) are deducted from
Inventory List and the quantity of the finished product (Inventory Assembly) is increased.
 NON INVENTORY PART :This type is used for products you purchase but do not track as Inventory. Correct use of this type
would include products you purchase that are ordered for a Specific customer and directly shipped to the customer, or for
materials and supplies you purchase but do not sell to the customer.
 OTHER CHARGE : This is a Multipurpose item type. Freight, handling, and other miscellaneous types of charges are
examples of the proper use of the Other Charge item type. Using this type makes it possible to segregate sales of your service
or product from other types of revenue and Expenses in reports.
 UNDERSTANDING ITEM LIST IN QUICKBOOKS

 SUBTOTAL : This type is used to add Subtotal line items on sales and purchase transactions. This item is especially useful if
you want to calculate a specific discount on a group of items on a customer invoice.
 GROUP: This type is used to quickly assign a Grouping of individual items on sales and purchase transactions. Unlike
assemblies, groups are not tracked as a separate finished product. Groups can save you data entry time and enable you to
display or hide details on a customer's printed invoice.
 DISCOUNT : This Item type is used to mentioned Discounts on Invoices offered to the customers or Discount on Bills
received from the vendors.
 PAYMENT : This item type is not always necessary to set up. You create this item type if you record the payment directly on
an invoice as a line item. On typical customer invoices, you should not record payments in this manner.
 UNDERSTANDING ITEM LIST IN QUICKBOOKS

 SALES TAX ITEM : This type is available only if you enabled sales tax in a company file. In most cases, QuickBooks
automatically assigns this item to an invoice. In some states or industries where there are multiple or different sales tax rates
for a given sale, you can also add this item to an invoice as a separate line item.
 SALES TAX GROUP : This type is used to group multiple tax district flat-rate sales tax items that are combined and charged
as one sales tax rate.