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This chapter is from the book

Item List Review Checklist

Creating a new item list?

  • Make sure you are selecting the correct item type. (Page 68)

  • For service, non-inventory, and other charge types select the box This Item Is Used in Assemblies or Is... so that you can assign both an expense and an income account. (Page 75)

  • Ask for help from your accountant if you are not sure what accounts to assign to the items. (Page 70)

What to look for:

  • What to look for when you are concerned your financials might not be correct. (Page 70)

  • If your chart of accounts is too detailed, consider using items to track the detail. (Page 64)

  • Make sure your items have the right accounts assigned. (Page 70)

  • If you sell the items you buy, make sure they are set up properly. (Page 75)

  • Marking items no longer used as inactive. (Page 78)

  • Merging duplicated items. (Page 80)

  • Would rearranging items into groups make getting the reports you want easier? (Page 81)

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