The Different Function Types Of Quickbooks

The Different Function Types Of Quickbooks

uickbooks is a chain of software used for accounting purposes. Developed by a company named Intuit, this software is used worldwide in numerous big or small scale companies. Be it in US cities like Carson City (NV) and Sun Valley (NV) or anywhere in the world, Quickbooks is quite popular in the business world to maintain large numbers of accounting information. There are different function types of Quickbooks which are often misunderstood or misused by a number of companies. Since the flexibility of the various types of the software is so vast, it can be used to track any kind of information related to either jobs, customers, items sold/bought and vendors. Choosing the type of data to keep track, depends entirely on the type of business. The three primary function types of Quickbooks are: 1 . Job or Customer Types: Quickbooks enables the creation of different jobs under the same customer. This feature is beneficial especially for those companies who perform numerous jobs for the same client. Some companies have retail or wholesale customers, in which case these companies use such designations as "types". In case there are no definite designations to separate customers, then companies differentiate them on the basis of how they came to know about the firm. In such situations companies use categories like "yellow pages", "newspaper", or "word of mouth". Creating a job type for each service performed helps to understand which service was profitable and which was incurring losses for the company. 2. Vendor Types: For business owners there are numerous options in Quickbooks when it comes to vendor types. Be it in any US cities like Sparks (NV) and Carson City (NV), most large scale industries prefer to use the vendor's industry as a type. On the other hand, some small scale businesses like retail stores may choose the products they sell as a vendor type. 3. Item Types: This is the only type that is pre-defined in Quickbooks. There are 12 item types in the software. These are Service, Inventory Part, Inventory Assembly, Non-inventory Parts, Fixed Assets, Other Charge, Subtotal, Group, Discount, payment, Sales Tax Item, and Sales Tax Group.

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