Service and Inventory Items in QuickBooks
You might hire a bookkeeper or an accountant to help you with your QuickBooks or earn income based on the number of hours you or your team have serviced your clients such intangible items are tracked as Service items in QuickBooks ,which has to be itemised in your invoice you send to your customer or bill you create for your vendors. These include services such as accounting, consulting, cleaning, education,landscaping, treatment ,transportation services, etc.
Idle resources like raw materials ,purchased and manufactured parts, subassemblies and finished products constitute inventory. QuickBooks uses various income and expenses account to accurately maintain the records for a business like Inventory asset account, Account Receivable, cost of good solds account.