How to Set Up Products and Services Options in QuickBooks Online

hi this is tim yoder with fit small business today i'm going to teach you how to set your product and services options in quickbooks online let's get started first let's look at our home page for our 46 free quickbooks tutorials you can find this by googling fit small business quickbooks online tutorials so today we're going to be talking about how to set your options for your product and services in quickbooks online if you're wanting to actually learn how to set up the products and services so the products and services themselves for instance an inventory item for each type of inventory you have you'll want to go to our sidebar and in the second part of our part one of lessons we have how to set up the product and services list so that's where you actually create the different types of products and services so what we're going to be talking about today is just how to set the options up for your products and services okay so let's start from our quickbooks online dashboard if you don't have a subscription yet to quickbooks online you can click the link below this video to get fifty percent off for three months so let's go to your cog wheel your settings options in the right corner and go to account and settings under your company and then sales and in our products and services section these are the five options that we're going to talk about today so the first option is our show product and services column on sales form so let's look exactly what the uh this column is because this really is the heart of what we're talking about when we're talking about our products and services so i'm going to get out of our account settings quickly and let's go to sales and let's look at an invoice look at this invoice to aaron okay so notice in our invoice here we have a product and services field and that's what we're talking about here so we have a we have a service item set up as nsf fee and by choosing that service item as we fill out the invoice it will actually route it to the correct account number so rather than creating invoices and indicating exactly which account we want it to go to we can indicate which product or service it is and that will then tell quickbooks which account to make it to and so the advantage of that is you can keep your chart of accounts much simpler you only have to have one revenue account and you can have all of these different products and services that you sell and be able to produce reports showing your numbers by product or service again without having to have a million different revenue accounts in your chart of accounts and so that's what we're really talking about today so we want to learn how to turn on and off this product and services column on our sales forms so let's escape from here i'm going to click the x now let's go back to our settings again so accountant settings sales and then this product and services section so i'm going to turn on the product and services column i highly recommend that everybody have that turned on again so you can use your products and services feature it's really the backbone of quickbooks online show the sku column so if your company uses its own set of skus to track products you can turn that on and that will provide you a field on your invoices in order to show the sku i have that turned off turn on the price rules so quickbooks online has very powerful pricing rules you can set special rules uh for pricing for maybe family members or for preferred customers one particular customer in particular and you can set these price rules to something like for this particular customer let's give them 90 percent off so if you want to be able to use the price rules you first have to turn them on in this section so i have that turned on if you want to track quantity and the price rate or if you want to track your inventory on hand you have to have these last two turned on if you have inventory so if you want to keep if you have something products you buy and sell and you keep on hand that's inventory you have to have these last two options turned on in order for quickbooks to track your inventory if you try to set up an inventory list item and you don't have these turned on it will tell you you have to turn them on okay great so that's how you set up your options for products and services and then again i highly recommend you look at our other lesson on how to actually create the products and services list once you have these options correctly set one more thing before we go let's talk about the price rule so the price rules is actually a special list item so i've turned it on so we can save this and we'll get out of here let's go to our cogwheel and all lists and you can see under products and services we now have a list for price rules if you're missing this list that means you have the price rules shut off in the options that we just looked at and so let's glance at what price rules we have we don't have any price rules yet so i'll let you explore that on your own we have other lessons available but the price rules are very powerful and again if they're not showing up as an available list it's because you haven't turned on that option so i appreciate your attention today in visiting this tutorial please remember to google quickbooks online tutorials from fit small business to view all 46 of our free quickbooks online tutorials thank you

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