Change Service or Inventory Item Types in QuickBooks

An easy guide to change QuickBooks Service or Inventory Item types

It’s important for every business owner to create inventories of their purchases, sales, products, services, and anything else that needs to be tracked. And since QuickBooks is extremely user-friendly accounting software, it makes it as simple. Adding services or QB inventories is not a tough task, here are some simple and effective methods to add them to QuickBooks.

QuickBooks Services or QuickBooks Inventory Items

Understand the difference in QuickBooks Services and QuickBooks Inventory Items:

An Inventory Item is anything that your company offers, resells or acquire within the course of company, like the product, delivery fees as well as handling fees, discounts and excise responsibility (tax) (if applicable). It appears as a line on an invoice or various other sales forms. Setting up things integrate inventory part and also sub-assemblies right into a single product.

QuickBooks Services: A Service is something that you offer to your clients to help them with their business and individual needs. You charge them to complete a task or by the hour. Service items can be created in QuickBooks Pro inside the list of items for the services that you provide. It keeps you from manually writing the similar item details into sales forms of the services that you offer.

QuickBooks Inventory Items: A QuickBooks inventory item, on the other hand, is anything that your business sells, resells, or purchases within the course of business such as the product, charges for shipping, charges to handle the product, and applicable excise duty or tax. On invoice and other sales forms, it would appear as a line. Assemble items put together the inventory part and sub-assemblies.

You can create service products in QuickBooks pro inside the Item list for the services you offer. This assists you to escape repeatedly writing a comparable item information into sales forms for services you generally offer.

Steps to create your service items in QuickBooks Pro

  • Go to the “Item List” window.
  • Click “Item” on the lower left.
  • Once the drop down box opens, click the “New” command.
  • After “New Item” window pops up, choose “Service” from Type drop-down menu.

In the “New Item” window, the fields will appear and look like ones like creating “Inventory Part” items.

In case you face any trouble or require assistance you can contact Pro Accountant Advisor team that is certified from Intuit. Our team of certified QuickBooks enterprise support experts has cutting-edge tools and technology to fix all sort of QuickBooks related issues.

Create and add services or inventory items in QuickBooks Pro

Here is how you can create and add services/inventory items in QuickBooks Pro:

  • Tap on “List” on the Menu bar.
  • Click on Item list and open Item List window.
  • Click on the Item tab in the lower left-hand corner of the list window to create service in QB pro.
  • After a drop-down menu shows up, select “New” to open item window.
  • Next, tap on Service from the Type drop-down.
  • Manually put in an item name in “Item Name/Number“.
  • In case you wish to make this service as a sub-item of another service, select the Checkbox in front of the Sub–item.
  • Choose the “Main service item” in a category where you like to add a current item from the adjacent drop-down.
  • Write about the service you offer in the description box so that it’s displayed in “Sales receipts” and “Invoices“.
  • Enter the rate at which you provide your service and choose the appropriate “Tax code” for the service.
  • Choose an “Income account” for the sales of your service through the Account drop-down.
  • Click the following check-box to change the available fields. This is to mention the services your customers purchase in their “Invoices“.
  • Enter the “Purchase details” for the service in the “Purchase Information box“.
  • Furnish sales descriptions for the service in Sales Information and that would create Service item.
  • Click “OK” button to save it into the Item list.

Different types of Products and Services and ways to change them

Products and services can be changed for one type of item to another, with an exception for Bundle and inventory items. These items have a different way of tracking. Please note that there are 4 item types in the Products and Services list on QuickBooks accounting software.

What are the different product/services types?

Inventory items: Inventory items can be purchased and sold and their quantities can be tracked. You will be required to choose the Tracking Quantity on Hand option for this item type.

Non-inventory items: Non-inventory items are those items can be purchased and sold but their quantities can’t be tracked, for examples, nuts and bolts used in an installation.

Services: You provide services such as support, landscaping, and training to your customers. 

Bundle: They are like a collection of products and/or services you sell jointly, for example, a beach kit that includes sunscreen, towel, flip flops, and other items. It’s your decision to hide or display bundle components as you like when sending/printing transactions.

To add or edit bundle items, go to the Products/services option through the bundle section and set as you want to put on show your bundle items.

Important: The feature for tracking inventory is available just in QuickBooks Online Plus. Also, bundle items can only be used or created in the browser version of QuickBooks Online. Android or iOS mobile apps are yet to support them.

Ways to change the types of products/services

Below we have discussed few points to change the product/service type:

Change Service Item(s) to Non-inventory items:
  • Click on the “Gear icon” on the top and select “Products and Services“.
  • Hit a click the checkbox in front of the service item you have to change.
  • Click on the “Batch actions” drop-down box and choose “Make non-inventory“.
Change Non-inventory item(s) to Service Items:
  • Click on the “Gear icon” on the top and select “Products and Services“.
  • Click the “Checkbox” in front of the non-inventory item(s) you have to change.
  • Now give a single Click on the “Batch actions” drop-down box and choose “Make service“.
Change Service or Non-inventory items to Inventory Items:
  1. Click on the “Gear icon” on the top and select “Products and Services“.
  2. Search and find the “Item you want to update” and then go to the “Action column” and select “Edit“.
  3. Choose the “Change type link” and select “Inventory“.
  4. Here are the additional details you’ve to enter:
    • Initial quantity on hand.
    • As of date or an effective date (Please note that the date you mention must be a date prior to any transactions where this item was used).
    • Inventory Asset, Income, and Expense accounts.
    • Sales Price, Cost, and Sales/Purchasing information
  5. Choose “Save and Close“.

Important: Please note that inventory items can’t be converted to any other types. If you want to change the type of Inventory items, you will have to create a new item.

We hope that you are able to add as any services or items as you wish and run your business with ease. In case you have any query or require assistance, you can contact our experienced QuickBooks Pro technical support team at 1800-880-6389.

We are available round-the-clock and offer nothing but the best solutions and services for all QuickBooks related issues.

 

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