would you like to learn the most important part of setting up quickbooks online for attorneys
well then you should watch this video inputting the list of products and services
if you have any questions about this topic you can leave them in the comments section below and
i'll do my best to help you and of course if you feel the video helped you i hope you will click
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all the time the list we will learn about in this video is a list of services or products
that a business would sell to a customer or client it's something you would list in the body
of either a sales receipt or an invoice when the service is rendered each item is connected to an
income type of account in the chart of accounts every time a specific service or product
is placed on an invoice the income account for that item goes up for example let's imagine that
ross wants to track the income from notary service separate from all the other income that he earns
in this example there are only two items ross would possibly put on an invoice or a receipt
he could put the item called legal services rendered for any normal law service that he does
or he could put the notary service item on the invoice if that's the service that he performed
for the client he wants the income from notary service to be recorded in one
particular account in the chart of accounts and all the other income from all the other services
can get recorded in the other income account legal fees earned so this is our chart of
accounts on the left and on the right is a general example of an invoice when you create
the invoice and quickbooks online you will list the item that you're charging the customer for
and put the money amount on the same line so if he puts legal services rendered as the name of
the item five hundred dollars when he saves the invoice this account in the chart of accounts
will go up because the five hundred dollars for legal services on this invoice will be recorded
in that account however if he also charges the customer for notary services the money
amount on the line for notary services will get recorded into the other account income from notary
services and that will increase by a dollar fifty at the moment that he saves the invoice
we go to the top right and click the cog wheel and we go over to the column that says lists
the second item down is the list of products and services double click and the window will open
now if this is the first time that you are visiting this window
you could click add a product or service and you would choose in this case service
and the name of the service is legal services rendered
and since the price changes all the time we will not put a sales price
and in your law firm you could go back and put a description if you want to however the most
important thing to note when putting the list of services
into your quickbooks online is which income account will this be attached to
and in this case legal services income is the account that we wish to increase on our reports
at the moment that we place this legal services rendered item onto an invoice or a sales receipt
now if we click save and close we now come back to the list of products and services
the way it would normally look now we can make this column maybe a little uh longer here
so that it's a nice smooth name okay you may notice that quickbooks online already comes with
two items on the products and services list that you could utilize later and we will speak about
these in a later video but in the meantime we have to go ahead and put the other item on the items
list because ross wants to track the income from notary services separately even if they're listed
on the same invoice so again we click new and we click service and the name is notary services
and of course you could put a sku or a category or a description um you could make categories of
your services uh if it helps a description would also automatically show up on the invoice or sale
receipt if you chose to put one in here associated with this item but the most important thing even
though you could put a price if the price is the same we don't have to we can put the price at the
moment we record the invoice or sale receipt again the most important thing is the income
account that we connect to the item so that when we put the item on the invoice later the correct
income account will record that transaction and increase accordingly click save and close
and congratulations if your list of products and services looks just like this
then you have finished setting up the quickbooks online products and service lists for attorneys