Products and Services In-depth

The Products and Services In-Depth course offers a detailed exploration of managing your business’s inventory, products, and services using QuickBooks. Whether you’re a small business owner, accountant, or inventory manager, this course will equip you with the knowledge to effectively track, manage, and sell products or services, while maintaining accuracy in your financial records.

Course Overview:
Managing products and services efficiently is essential for any business that sells physical goods or offers services. In this course, you’ll learn how to set up and manage your product and service items within QuickBooks. You’ll discover how to categorize products, manage inventory, set up pricing rules, and track costs to ensure your financial reports reflect accurate and up-to-date information.

Inventory Management:
QuickBooks allows you to track inventory levels, manage reordering, and ensure you never run out of stock. You’ll learn how to set up inventory items, monitor stock levels, and automatically update quantities when sales are made. The course also covers how to manage inventory costs, including cost of goods sold (COGS), and how to generate inventory reports to track profitability and optimize your supply chain.

Service Management:
For businesses that sell services, this course will guide you through setting up service items in QuickBooks. Learn how to create and manage service-based invoices, set billing rates, and automate recurring service charges.

GST and Tax Compliance:
For Australian businesses, understanding how to apply GST to products and services is critical. This course explains how to configure GST for different product categories and how to stay compliant with ATO tax reporting.

By the end of this course, you’ll be able to confidently manage your products and services in QuickBooks, improving operational efficiency and ensuring accurate financial reporting.