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Where is the item list on quickbooks online?

Question: Where is the item list on quickbooks online?

Answer: click on the gear icon and then select “products and services” under “List”


How do I record a sale of an asset? what is the entry in quickbooks for the sale of an asset?

create an income account called gain/loss on asset sales

then it depends, if the asset is subject to depreciation, you calculate and post partial year depreciation
then journal entries (*** means use the total amount in this account)

debit asset accumulated depreciation***, credit gain/loss
debit gain/loss, credit asset account***

deposit the check received for the […]


Can you use accounts receivable to track pledges

You can by issuing an invoice, but in QB an invoice is a final sale which impacts on your income


a pledge is a promise, nothing more, and IMO should be entered on an estimate.  Estimates are non posting so if it falls through, no impact on the financials


I recently switched from Desktop to online version. I used to be able to run a report – Time by job detail and filter out for unbilled time which I used to make sure the time entries were correct when generating invoices. In QB Online I can run a time activities by customer detail report, but I am unable to filter out billed and unbilled time activities. It only lets me filter out billable or non billable time. I have some clients that may have a small amount of time one month and larger the next so I may hold the time from one month and add it to the next month. I need to be able to see what is outstanding billable time by customer. thanks

Good day, mary.

Welcome to the QuickBooks Community. Let me help you pull up the report for your billed and unbilled time activities.

In QuickBooks Online (QBO), we only have the Billable and Non-Billable filters on the report. However, you can pull up the Unbilled Time report and compare it to the Time Activities by […]


COMPANY BOUGHT AND SELLING TO VENDOR The company bought a car and now is selling to a contractor on monthly payments

Buying it created a Fixed Asset. If you held it and used it you would take depreciation to recover cost. If title transferred Create a sales receipt for selling price and reduce it by the Current Asset private loan amount.  Each month contractor pays you apply to principal and interest. […]


I have a client that uses over a hundred classes to track their different revenue streams. We use classes to avoid too many income accounts on the P & L. We now need to deactivate several of the older classes to stay within the limit for the QBO Plus subscription level. However, after deactivating several classes, I noticed I am no longer able to run reports by class for those classes that are now inactive. If there any way around this, or do we have to upgrade to Advanced?

Hello @sarah22. I can provide clarification on reporting and usage limits in QuickBooks Online.


Classes that have been made inactive will appear on reports, such as the Profit and Loss by Class. They will be indicated as having been deleted and there isn’t an option to filter them. This is similar […]


Inactive products are still showing on Purchases by Product Service Detail Reports When we opened the QuickBooks account we made some errors with starting inventory entries and product details. So we had made multiple products inactive since QBO does not allow products to be deleted. But now when I run “Purchases by Product Service Detail” reports, the inactive products are still showing up on the report with “(deleted)” after them. I need to have these removed completely. There is no way to filter them out with the Customize -> product/service option because they don’t show up on the active product list. How can I get these products out of the system?

Hi there, @nikkim1.


Thank you for posting in the Community. I’m here to share some insight about the inactive products showing in the Purchases by Product Service Detail Report.


Yes, you’re right. Inactive products would still show on your report if there are transactions linked to them. Deleting those from […]


How to handle a combined business and personal expense? I have a monthly expense (cell phone bill) that is partially for my business, and partially as a personal expense. Currently it automatically deducts from my business checking account, and I transfer the funds to cover the personal portion from my personal checking account. My question is how to handle the deposit/transfer. I have it as an increase to my Member Draw Equity account, since this is the account I have the expense assigned (the personal portion anyway). Is this the correct way to handle this? FYI, I am just starting out and therefore want the cash flow from my personal account to cover this expense. Also, unrelated but another Equity account question: I initially started with some personal money to get the company started, and this is in the Owner Contribution Equity account. Does this need to be closed out each year to Retained Earnings (Owner’s Equity since I’m an LLC)?

Hi there, @nbishop_springboardssolns.


Welcome to the Community family. I’m here to share a few details on how to handle your business and personal expense correctly.


Regarding the cell phone bill, you can create an expense for it. Then create a Bank Deposit as a refund/transfer from the personal account. The […]


In entering inventory starting values I assigned them to the long-term liability acct for the note payable. I run on cash basis. Problem I’m finding is that QBO can’t run a hybrid approach with accrual basis on inventory only. Therefore my inventory sold is never expensed to COGS (it shows correct on accrual reports, not cash). Inventory values are adjusting accurately, so I don’t see how to do a dbl entry to adjust COGS without throwing off my inventory. Can I do some type of end-of-year journal entry to correct this? Or backtrack and correct initial entries (this has its own issues as initial year was 2017)?

Answer 1:

the problem is your starting value being posted to a liability account


the loan should have been entered and off set to a cash type bank account
then you “buy” the inventory items using the cash type bank account
if you do it that way COGS will be right both cash and […]