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April 1, 2022
Question

Category and Item details

  • April 1, 2022
  • 1 reply
  • 0 views

Dear Community, 

 

Whether a customer can use record both Category details and Item details in a single bill? Quickbooks allows to record both the Category details and Item details in a single bill but I want to understand whether this situation will come across in the practical scenario too. If yes, please provide me an example. Thanks in advance

1 reply

April 1, 2022

Let me provide some details about Category detail and Item detail in QuickBooks Online (QBO), MohanPrudhive.

 

When creating a purchase order or bill in QBO, you have an option to select item details or category details. The Category detail is an account that you select from your chart of accounts. While the Item detail is an item from the products and services that you purchase and sell.

 

If you've purchased an item from a supplier, you'll need to select or enter the purchased item in the Item details section on the purchase order. If the item is not added yet to the list, you can follow these steps: 

  1. Go to Gear icon and Products and services.
  2. Tap New.
  3. Choose InventoryNon-inventoryService, or Bundle.
  4. Enter the Name of the product or service. Enter details needed.
  5. Press Save and close.

 

Once you've added a product or service to the list, you'll be able to select it on the item details when you create a transaction. If you've selected an item on the Item details section and it was set up as an inventory item, we don't need to have to select a Category detail like Cost of Goods Sold, Inventory, or Inventory asset. The Cost of Goods Sold (COGS) accounts are associated with your inventory-enabled Product/Service items and they'll be allocated to the Inventory asset once you've copied the purchase order to a bill. You can always check the Transaction journal (select More) on a Bill to see the accounts associated with it. 

 

Feel free to visit our Expenses and Vendors page for more insights about managing your vendor transactions. 

 

I'd like to know how you get on after trying the steps. as I want to ensure this is resolved for you. Just reply to this post and I'll get back to you. You have a good one. 

April 1, 2022

Thanks for the explanation Mate.