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Mastering QuickBooks 2021

You're reading from   Mastering QuickBooks 2021 The ultimate guide to bookkeeping and QuickBooks Online

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Product type Paperback
Published in Jan 2021
Publisher Packt
ISBN-13 9781800204041
Length 414 pages
Edition 2nd Edition
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Author (1):
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Crystalynn Shelton Crystalynn Shelton
Author Profile Icon Crystalynn Shelton
Crystalynn Shelton
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Table of Contents (26) Chapters Close

Preface 1. Section 1: Setting Up Your Company File
2. Getting Started with QuickBooks Online FREE CHAPTER 3. QuickBooks Online Advanced 4. Company File Setup 5. Migrating to QuickBooks Online 6. Customizing QuickBooks for Your Business 7. Managing Customers, Vendors, Products, and Services 8. Section 2: Recording Transactions in QuickBooks Online
9. Managing Sales Tax 10. Recording Sales Transactions in QuickBooks Online 11. Recording Expenses in QuickBooks Online 12. Reconciling Downloaded Bank and Credit Card Transactions 13. Section 3: Generating Reports in QuickBooks Online
14. Report Center Overview 15. Business Overview Reports 16. Customer Sales Reports in QuickBooks Online 17. Vendor and Expenses Reports 18. Section 4: Managing Employees and Contractors
19. Managing Payroll in QuickBooks Online 20. Managing 1099 Contractors in QuickBooks Online 21. Section 5: Closing the Books and Handling Special Transactions
22. Closing the Books in QuickBooks Online 23. Handling Special Transactions in QuickBooks Online 24. Shortcuts and Test Drive 25. Other Books You May Enjoy

Inactivating products and services in QuickBooks Online

As we discussed when we talked about customers and vendors, you cannot delete products and services in QBO once you have created them; however, you can inactivate them. This will preserve the existing transactions and remove the product or service from the items list so it cannot be used in new transactions.

Follow these steps to inactivate a product or service in QuickBooks Online:

  1. Navigate to the Products and Services list by clicking on the gear icon and selecting Products and Services, as shown in the following screenshot:

  1. Scroll down the items list to the product (or service), click on the Edit button, and select Make inactive, as shown in the following screenshot:

Similar to customers and vendors, inactivating a product or service will remove it from selection for future transactions. However, the existing data will remain intact to ensure reports are accurate for tax and other reporting purposes.

To recap the steps covered...
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