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Products, Services, & Inventory in QBO

For someone else
Alicia Katz Pollock
For someone else
Purchase for $74 or enter access code

Unleash QBO's full power to effortlessly track services, product lines, costs & inventory. Master reporting tools to identify winners, streamline operations & maximize profits.

You’ll Learn About:

  • Defining Income, Cost of Goods, and Inventory Asset accounts in the Chart of Accounts
  • Setting up your Product & Services list
  • Selling services to your customers using Invoices and Sales Receipts
  • Using Purchase Orders, Bills, and Expenses to buy products for resale
  • Managing Inventory in QuickBooks Online
  • Selling subcontracted services
  • Running Reports to show your best-selling services & products, and profit margins by revenue stream and customer
  • What to do if your inventory needs are bigger than QBO


 After completing this course, you will be able to: 

  • Describe the process to set up your Products and Services list correctly
  • Recognize the steps to purchase items for resale
  • Recall how to use Service items to track subcontracted labor
  • Understand how inventory transactions affect the Chart of Accounts, P&L, and Balance Sheet
  • Identify reports for sales analysis


Instructional Level


Course Length

2 hours

Course Credits

2 CPE, Certificate of Completion

Field of Study

Computer Software & Applications

Delivery Method

QAS Self Paced

Who should take this class?

  • Service-based businesses who want to track their most popular services
  • Retail businesses who track inventory in QuickBooks Online
  • Businesses who sell products
  • Businesses who subcontract services and want to analyze profitability

Advance Preparation



Preview this course:

Get a sneak peek of what's inside this value-packed training. Watch the brief video below to explore the topics we'll cover and see the quality of content you can expect. Your journey to mastering the material starts here!

QuickBooks Online’s Products and Services Course Description

Your company's success relies on the products you sell and the services you provide. They are the foundation of your business, enabling you to generate revenue and sustain your livelihood.

To ensure your success, it's crucial that your QuickBooks file accurately reflects your stock management and service offerings. QuickBooks Online's Products and Services list serves as a tool for organizing your product lines and customer services.

By setting up this list correctly, you can easily track the popularity and profitability of your offerings, allowing you to identify your best-selling products and services. This valuable insight empowers you to make informed decisions that drive your success and boost your profits.

In addition, QBO Plus and Advanced offer inventory management accounting features. Leveraging the Products and Services list in QBO enables you to track your sales income, inventory assets, and cost of goods sold.

When using QuickBooks, you will create a list encompassing the services you provide and/or the products you sell. These items will be added to your invoices and sales receipts, providing customers with a clear breakdown of their purchases.

Furthermore, you will have the ability to generate reports that reveal your best-selling products and services, providing valuable insights into what your customers want, and which are your most profitable endeavors. Armed with this information, you can make informed decisions on how to grow your company effectively.

Don't miss out on this opportunity to transform the way your business handles products, services, and inventory. Take action now and enroll in this class to gain the knowledge and skills that will propel your company to new heights.


Find out why people are getting excited for this 'Products, Services, & Inventory in QBO' course!

Find out what you've been missing. See what prior learners have to say about this remarkable educational opportunity. See all the reviews by clicking the 'Reviews' tab near the top of this page.


Watch it again later

You'll have lifetime access to the on-demand course including all handouts and class material, including future updates. You'll also be able to ask questions in the Q&A forum and get answers, even years later. You can pause, rewind, speed up, and watch again later as you apply what you learn to each situation as it crops up.


Want this course for FREE? Unlock this course & more for no extra cost with an OWLS Membership!

Get instant access to ALL of Alicia's QuickBooks courses for FREE when you become a silver member - it's the perfect way to maximize your learning!

OWLfred says, "Silver membership pays for itself in just two courses per month!"




Refunds & Cancellations

Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.


Royalwise Solutions Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:


Course Credits: 2 CPE, Certificate of Completion. Must be awarded within one year of enrollment.
Course Updated: May 2024
Course Page Updated:  May 2024

Here is the course outline:

1. Download the Handout: Required for CPE credit

Download the handout that goes with the course.

Handout: Products & Services Slides
Handout: Products & Services Handout
Glossary of Terms
Products, Services, and Inventory in QBO Transcription Document

2. Watch the Videos: Products, Services, and Inventory in QBO 2024

Learn to use Intuit QuickBooks Online’s Products and Services list to track your services, product lines, and cost of goods sold. Manage your inventory seamlessly.

Intro and Agenda
What Are Products & Services?
Account and Settings for Products, Services, and Inventory in QBO
Sales Tax for Products, Services, and Inventory
The Chart of Accounts
Products and Services Lists
Service Items
Non-inventory Items
Bundled Items
What is Inventory
Should You Manage Inventory?
Inventory Items
Review 1: Products and Services
Selling Your Products and Services
Buying Your Products
Paying for Subcontracted Services
Managing and Troubleshooting Inventory
Inventory Value Adjustments Using $0 Checks
Negative Inventory
Price Rules
Uploading a Product List
Product Profitability Reports
Inventory Reports
QBO Commerce
3rd Party Apps
Review 2: Inventory and Reports


The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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