Group Item

Group Item
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Group Item
Video Length: Video Size: File Size:
3 Minutes 31 Seconds Up To Full Screen 4616 KB

QuickBooks Online Training
 
Video Tutorial Over Group Items
 

Group items and inventory assembly items are similar in that they both let you record a group of items as a single entry on purchase or sales forms, but they also have some important differences.

Group items are useful for quickly entering a group of individual items that you often purchase or sell together.

Why use group items?

If you often enter the same group of items when you record a sale or purchase, you can set up the items as a group item. Instead of entering each item individually when you fill out a form, you enter the name of the group item. QuickBooks then fills in the details for the items in the group.

More reasons to use group items:

  • More detailed reports: Group items enable you to track the items that you sell in greater detail. For example, a construction firm that remodels houses could set up a group item that lists the significant components of a remodeling job: lumber, carpentry hours, markup, and so on. Sales reports for the company would then show income broken down by each component instead of a single lump sum for all remodeling jobs.

    Less detail for customers: If you need to track a lot of detail about your items but you also want to give your customers simple, uncluttered invoices, you can use group items to do both. You can set up a group item so that the printed version of an invoice reduces a group item to a single line item and one amount. Yet when you view the invoice on your screen, you see a separate line entry and amount for each item in the group.

  • Fast data entry: Group items also give you a way to enter a great amount of line item detail quickly. On a sales or purchase form, all you do is enter the name of the group item—QuickBooks fills in all the details about the items in the group.

    Assembly items let you combine inventory items and assembly costs into new, separately trackable items that represent the finished goods you produce and sell.

    Why use assembly items?

    • Track finished goods separately from individual inventory items: When you build an assembly, an assembled unit is automatically added to quantity on hand, and its component parts (inventory items or other assembly items) are automatically deducted from quantity on hand. By using assembly items, you always know how many assembled and component items you actually have in stock.

    • Customize the price of assembled items: You can specify a price for an assembly that's different from the sum of its component items.

    • Quick access to information about finished goods: You can easily access the date that items were assembled, the quantity and cost of assembled items, and a detailed list of component items.

    • Set reminders for future builds: You can set a build point, and QuickBooks will remind you to build finished goods when stock is running low. At build time, QuickBooks will verify that you have enough component items in stock to build the specified number of assembly items.

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