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In invoice item represents any product you sell. Set up invoice items to reduce data entry and simplify your bidding and invoicing process. You can use invoice items for products 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.

  1. Click the Business tab, then click the Business Actions and choose Invoices and Estimates > View all Invoice Items.
  2. Select the appropriate option:
    • To create a new invoice item, click New.
    • To edit and existing invoice item, click Edit.
  3. 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 them 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 customer relies on specific item numbers, you may want the same numbers to appear on the invoice.

  4. Select the appropriate option:
    • Add a discount or surcharge invoice item
    • Add a subtotal invoice item
  5. If this invoice item is for a taxable item, select the Taxable check box.

    You cannot make a subtotal item taxable.

    When you add a taxable invoice item to a form, Quicken calculates the tax and deducts it from the total amount (for discounts) or adds it to the total amount (for surcharges).

    The tax rate Quicken bases the calculations on is the tax rate defined for the tax account associated with the form. Don't enter the tax rate in the Per Item Rate field, which is for the item's price.

  6. Click OK.

    The next time you want to use this item, select it from the Item list while in the estimate or invoice form and fill in the quantity.

    • If the invoice item is a discount, Quicken calculates the percentage of the preceding item and enters the discount amount for you.
    • If the invoice item is for a subtotal Quicken calculates the subtotal amount of the preceding items and enters the amount for you.

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