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In invoice item represent= s any product you sell. Set up invoice items to reduce data entry and simpl= ify your bidding and invoicing process. You can use invoice items for produ= cts you sell, the hourly rate for services you provide (set up an item for = each service, such as consulting, writing, or research), discount rates and= special charges (such as surcharges or finance charges), or subtotals.
You can create a complete list of the items you sell to customers before= you begin invoicing (recommended), or you can add them to the Invoice Item= s list as you create estimates or invoices. That way, when you=E2=80=99re r= eady to create an estimate or invoice, much of your work is already done. J= ust select items from your item list and enter the quantity=E2=80=94Quicken= calculates the totals for you. If you sell dozens of products or parts, ju= st set up a few major item types, and then edit the item price when you ent= er it on the invoice.
In addition to using items to fill out estimates and invoices more quick= ly, Quicken uses invoice items to track customer charges=E2=80=94and your i= ncome=E2=80=94in more detail. Add this detail with invoice items rather tha= n numerous income categories. For example, because Pat=E2=80=99s interior d= esign business sells more items than she wants to add to her Category List,= she could have one income category called Design Services, and another cal= led Product Sales. She could assign all of the items she sells to customers= (pillows, display shelves, mirrors, and so on) to the Product Sales income= category, and assign the services she provides (design consulting, sketche= s, and so on) to the Design Services category. When she later creates a Pro= fit and Loss Statement, Quicken reports the income from Product Sales separ= ately from the income from Design Services.
In the Item Name/Number= field, enter an item name. For example, = "10 percent discount," "subtotal," or "training."
Naming items so that your customers can interpret them when they see the= m on the invoice can be helpful; for example, Consulting Fees and Training = are more understandable than 9348 and 9349. On the other hand, if a custome= r relies on specific item numbers, you may want the same numbers to appear = on the invoice.
If this invoice item is for a taxable item, select the = span>Taxable checkbox.
You cannot make a subtotal item taxable.
When you add a taxable invoice item to a form, Quicken calculates the ta= x and deducts it from the total amount (for discounts) or adds it to the to= tal amount (for surcharges).
The tax rate Quicken bases the calculations on is the tax rate defined f= or the tax account associated with the form. Don't enter the tax rate in th= e Per Item Rate field, which is for the item's price.
Click OK.
The next time you want to use this item, select it from the Item list wh= ile in the estimate or invoice form and fill in the quantity.
This feature requires Quicken Business & Pers= onal. Learn how you can upgrade Quicken in minute= s.