![]() ![]() Click the down arrow in the field next to Tax Code to select the item’s taxable status. When you’re done, click OK. Connect with us, too, if the service you’re defining is used in assemblies or is performed by a subcontractor or partner, as these are more advanced situations.Įnter a brief Description in that box and your hourly charge- to the customer-in the field to the right of Rate. If this designation is important to your business, talk to us about upgrading your version of QuickBooks. If you had already created an item like “New Construction Services” and you wanted “Carpet Installation” to appear as a subitem of it, you’d click in the box in front of Subitem of to create a checkmark, then open the drop-down list below it and select “New Construction Services.” In the field under Item Name/Number, enter a word or phrase and/or number that describes the service, and that won’t get confused with another. There are many, ranging from Service to Inventory Part to Sales Tax Group. ![]() You can create numerous types of items in QuickBooks Service is one of them.Ĭlick the down arrow in the field under Type to see your options here. To define a service item, click Item in the lower left corner, then New, to open a window like this: The window that opens will eventually display a table containing all the items and services you’ve created. Click the Items & Services icon on the home page or open the Lists menu and select Item List. Creating Service Itemsīefore you can start tracking billable time, you have to create a record for each service offered – just like you would for a physical product. There are other options in that window we’ll talk about them next month. If you know that all your time entries will be billable, click in the box in front of that statement. To make sure that QuickBooks’ time-tracking features are turned on before you start, click the button next to Yes under Do you track time? Specify the First Day of Work Week by opening that drop-down list. Here is a look at the top part of the window that opens: The Company Preferences window for Time & Expenses displays multiple options. In the left vertical pane, click on Time & Expenses, then on the Company Preferences tab at the top. To get there, open the Edit menu and select Preferences. For that reason, we always recommend that you check in with your “Preference” options before you explore new features. ![]() The software was designed to support small businesses with a wide variety of structures and needs, so it needs to be flexible. We’ve discussed QuickBooks’ Preferences many times before. The software offers two options here: single-activity records and timesheets. You can also use these same features to enter employee time for payroll purposes. QuickBooks contains tools to help you record the hours employees spend doing work for customers, so you can bill them for services rendered. But tracking time accurately and comprehensively is as important as knowing how many products you’ve sold. There’s no inventory count you can sell as many hours as you have workers to fill them. If your business provides services to customers, though, you’re selling your employees’ time and skills. This tracking helps you know what’s selling and what’s not, and it signals when a reorder is due. It goes away, and your inventory count in QuickBooks is reduced by one. When you sell a product to a customer, you know it. If your company sells services, you can track the time spent providing them in QuickBooks. ![]()
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