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July 6, 2021
Question

How do I set up expense accounts for each sales category so I can track each the profitability of each service?

  • July 6, 2021
  • 1 reply
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Original commenter did not share additional details

1 reply

AlcaeusF
July 6, 2021

Hello @usermattdeacon,

 

Thank you for posting here in the Community. I can provide some clarification about the categories in QuickBooks Online.

 

Currently, the option to set up an expense account for a product category is unavailable. However, you can add it to the purchasing information of the service item.

 

Here's how:

 

  1. On the left navigation bar, click Sales.
  2. Search for the service item.
  3. Press Edit under the Action column.
  4. Put a checkmark to the box next to I purchase the product/service from a supplier.
  5. Add the expense account.
  6. Hit Save and close.

 

The categories groups your products and services when you run sales or stock reports. You can use the Sales by Product/Service Detail report to track the profitability.

 

Please follow these steps to run the report:

 

  1. On the left navigation bar, click Reports.
  2. Select Sales by Product/Service Detail under Sales and customers.
  3. Enter the report period.
  4. Make the necessary changes to the filters.
  5. Hit Run report.

 

For additional reference, I've attached a link you can visit for tips about how to handle categories when running reports: Group your products and services into different categories.

 

Feel free to hit that Reply button if you have further questions regarding the sales categories in QuickBooks. Have a great day ahead.

July 6, 2021

I don’t see the check box to tick

July 6, 2021

Thanks for coming back, usermattdeacon. 

 

I appreciate you performing the recommended steps provided by one of my colleagues. This time, let me help you figure out where you can check put a checkmark in the box. 

 

If you are referring to the I purchase this product/service from a vendor or supplier, it is located at the bottom under Purchasing information. See the screenshot below.

 

 

Please let me know how it goes or if you have any follow-up questions. I'll be here if you need further assistance. Just leave a comment below.