QuickBooks Desktop 2023 Item Lists Let's do it within 2-its QuickBooks Desktop 2023 QuickBooks Desktop Sample Rock Castle Construction Practice File Provided by QuickBooks Going through the setup process We do every time Maximize in the home page to the gray area Going to the view dropdown Noting that we have the hide icon bar And open windows checked off Open windows left hand side Reports drop down Company and financial looking at the P&L Profit loss income statement with the range Change<PHONE_NUMBER>24 January to December 2024 Customize it Fonts and numbers to change the font to 12 OK Yes OK And then reports drop down again Company and financial this time The big balance sheet with the date at 123124 Customize it Fonts Change 12 Yes OK Yes OK And then we're going to go back to the home page That's the setup process we do every time Now we're going to be focusing in on the items Noting that items historically have been housed Under the lists dropdown And therefore from a QuickBooks terminology standpoint Might be called one of the major lists Also realize that if you learn accounting From a college for example They wouldn't use the term list because that's going to be Specific generally to a QuickBooks terminology You might not even hear the term item When referring to like inventory items in a college Because they might just be referring to inventory And services The term item is going to be referring to those Underline foundational tools That will be used when we're populating Specific forms Remembering that the forms then Are what are going to be used to record the financial Transaction The double entry accounting transaction Affecting at least two accounts on the financial Statements that being the balance sheet And the income statement So when we think about the items we're thinking about Inventory items and service items are the primary Items we are considering The main forms they will have an impact on Are those which are used to record The sales transactions And the two forms used for the sales transactions Or designed to be used Are the invoice and the sales receipt Note that we also might record sales Or record to the revenue accounts When we make a deposit But remember that's what happened in a more Simplified type of system So if you have gig work for example And you get money that goes directly into your account From a platform that's just paying you And you're going to record it as revenue As you use bank feeds as we've talked about possibly And just record it to revenue With a deposit in essence when it clears the bank But that would be the simplest situation Normally when we make sales We've got to issue an invoice Or even on a cash based system We're going to create a sales receipt As we make these two data input forms We want to make the process as easy as possible So that the person entering this data into the system Does not really have to know what an item is Other than just to be able to populate it How it works Or what the impact of it will be on the financial statements We want someone to just be able to pick up Whatever is there Enter it into the system for example If I go into an invoice I'm going to go back a couple to An invoice with some detail in it So we'll pick this one here for example If someone was to be entering the data input Into the system recording this invoice Recording the sales We would like them to just be able to discuss with the client Let's imagine that it was a client Where they're just buying something This is a job cost system Which is a little bit more complex But if they were just to buy something We would say okay What item are you buying We can just look for that item in our dropdown And then once we populate it in the invoice That item will then drive what the rate is That will show on the invoice That the customers can then tell the client What the cost will be for that It will also drive the transaction for the invoice Which at the least is going to be An increase to accounts receivable If it's an invoice Increase to some kind of cash account If it was a sales receipt The other side going to revenue And it might have an inventory component If we're using a perpetual inventory system The item also recording then A decrease to the inventory account So those items are going to be really important Even if we have service items Even if you're doing bookkeeping And you're sole proprietor for example And you're doing bookkeeping services You might just say Well the items aren't that important I will just charge hourly And I'll just basically put in my hourly rate You could do that But even then it's really It could be a useful system If you can group what you're doing Into like a fixed charge And possibly charge your bookkeeping For example by how many transactions they do We'll talk more about this When we go to the practice problem And that can make your billing cycle easier It can make it easier to discuss With the client what exactly you're going to bill Try to show them what you did So a lot of times if I can move away From an hourly kind of thing To being able to bill on something else Based on the result that I put in How many transactions I put into the system I think a lot of times that's an easier Way to go a more transparent way to go But in any case those are the items Now the other place that an inventory item Will be in place will be the sales receipt Also when we buy inventory So if we're purchasing inventory We'll need to be able to populate that In the purchase order If we use purchase orders And then when we enter the bill For the inventory Because that's going to record the increase In the inventory Okay so those are going to be the underlying Very crucial underlying foundations To enter those particular forms In particular to get to the items I usually go to the lists dropdown And then the items list When you think item lists You're probably first thinking What you sell inventory items Service items So here we've got all the items here This is going to be a job cost system So again it's a little bit different Than maybe some other systems Even an inventory system Because of that But let's go into here You've got major Generally you've got the service items You've got the inventory items The service items Are usually going to be easier items To enter into the system Let's just open one up And that's because you've got the dropdown Service item You're just going to name the item that you have And then if you have a standard rate for it You can put the rate in place If you do not have a standard rate for it Then you could put zero here and populate it As you enter the item into the system This is going to be the tax code Whether it be taxable or not With regards to this tax We're talking sales tax In the United States We have a sales tax But it's not a federal tax It's a state tax And it's imposed on When you make the sale When you make an invoice Or a sales receipt Usually the state tax Will be applicable to the end product When it's charged to the customer For inventory Generally then Service items not being taxable Therefore no tax being applied So when I create an invoice With this item It's not going to have any tax applied The other account that it's going to go to Will be this account here An income account So when I populate this Into an invoice or sales receipt Then it's not going to have a rate So I'll have to add a rate to it There's no tax that will be applied to it If it was populated into an invoice It would increase accounts receivable When I record it Because it is an invoice The other side would go here Simply to an income account And that's assigned here So if I populated this into An invoice Let's make an invoice What is this called? Bright blue print charges So we're going to say We're going to go to customers Invoice And I'll say blue print charges So notice here And then if I populated something There we have it Notice that it's not telling me Which account that it's going to go to Ask the bookkeeper What's going to be the impact on the balance sheet Or the income statement They're not going to know Based on the invoice Because they're going to have to look up the item To figure that out But they don't need to know that They just need to know how to charge the customer That's going to be the general idea I'm going to close that back out Now close this back out The other major item is an inventory item So if I go into an inventory item Then that's an inventory part And so we're going to say Now we've got two sides It looks a lot more complex to it Because we're going to buy the inventory And when we buy the inventory We're going to buy it at cost That means when we enter a purchase order And a bill We're going to be dealing with this side Also when we sell the inventory We're going to have to deal with The cost of the thing that we sold When we sell it It's going to go to a cost of good sold account So we have to populate that account here We need the chart of accounts Set up properly to do that The preferred vendor This will be... You don't have to populate this form But this is who we buy this particular thing from Typically And then we're also going to need a sales price Which they don't have one here Because again this is a little bit tricky Because it's a job cost system But in the case if it was a sales price You would think it would be higher than the cost That would populate here This is a taxable item Because it's a physical item Subject to sales tax And then we've got the income account That's going to be charged When we populate an invoice We also have the inventory account That's going to be charged When we buy and sell this stuff So let's say we have this door frame Let's go back to the home page When we populate the purchase order For a door frame Let's say we put this in here And say it's a door frame Door...door frame Then it's going to populate at the rate That's the cost of the door frame This purchase order isn't actually Going to record anything It's just a request You'll recall from when we talked about The purchase order Then when we actually Receive the door frame Or enter the bill for the door frame This is us buying the door frame Then we're going to say On the item side We're going to say door frame And once again it's going to increase The cost of the door frame And this is going to be Doing multiple things We talked about when we entered the bill The bill is going to increase the accounts payable It's also going to be increasing The inventory account And we're charging directly to inventory On the expense side We entered the item So that it can also track The item in the sub ledger The units of the items And the unit costs of the items And that's why the item Is going to be important on the purchasing side But only when we have inventory items We're not going to have the purchasing side For service items Because we don't buy service items So we're going to close this back out And then when we sell the inventory item With a sales receipt Or an invoice Or a sales receipt Let's choose a sales receipt this time And then I put in Door frame So now we have the door frame Notice the rate did not populate Because they didn't have a rate But if I had a rate in there It would populate the sales price Which we would think would be higher than the cost And this is something hopefully That can be easily input By someone doing the data input Without really needing to know Much about the door frame Much about the item Other than that's what's being purchased And then this will record the transaction If there was a rate here Let's say it was $50 Then it's a sales receipt So it would be increasing Some kind of cash account In this case, undeposited funds For the full amount Including the sales tax, $53.88 The other side would be going to A sales account driven by the item It's not showing here which sales account Because we saw it in the item Which that's going to be determined there That's why we need it But it's going to go up by $50 We set it with a taxable item And that was given to us by the thing That said it was taxable And therefore it's charging a tax For the sales tax here And that helps us to determine That the sales tax is going to go into The sales tax payable account We also have inventory related to this Which again, the amount of the inventory I believe was $12 Isn't on here But is known by the system From the item So it's going to decrease the inventory Due to the item It's going to decrease the sub ledger For inventory and the units of the inventory By the item And it's going to record the cost Of goods sold So if we have a perpetual inventory system The items can do a lot There's actually a lot happening When we create a sales receipt And an invoice And we have to have an understanding Of that The best way to get an understanding Is to set up a company That has inventory Which will do In the second half of the course Closing this back out Going back to Our lists So those are the major two item components You also might have like a non-inventory part These are going to be parts Where they're going to be kind of inventory But you're not tracking them in the system On a perpetual inventory Method system And then you've got other charges Which we saw some uses for Like the bad debt charge On the other charges Which we might set up items For some of these particular things as well And so to add an item We could go here And add an item by going to new And going to a new item And then we determine Whether it be an inventory item A non-inventory part Or an inventory part Are the major items We saw also an other item Subtotal or a group and so on And so I'm going to close this back out So those are the items That we'll set up in the second Half of the course Let's go back in there one more time If I go back in there one more time And just see the difference If it's a service item It's a lot more easy of a data input If I go into the inventory part That's when you get a bit more complexity Because again you got that Purchasing side of thing that cost As well as the sales price So closing that back out And I'm going to say no Don't record it Now you've also got some other things That could be included in the item So we've got the sales tax down here Items These are going to be the things That we put into place So once we determine that something Is subject to the sales tax Then we have to say which sales tax It's going to be subject to And we set up items That will be lining up the sales tax So when you hear the terminology item Usually the first thing that would come to mind Are going to be the inventory items And the service items And then you also have anything That kind of drives Like the data input process So the sales tax items You could have payroll items Also hearing similar terminology For those types of things as well So we've got then the sales tax items When you go into the lists drop down You've got the payroll item list Which again you're using that terminology Of items These are going to be a tool That's going to be used in order For QuickBooks to be able to determine What's going to happen When you put in a data input process To make it as easy as possible So if I go back to the homepage Then the general idea is When setting up the company Which we'll do in the second half of the course We need the foundational lists to do so The primary one being the chart of accounts Once we have a chart of accounts We can then set up the items The items using some of those accounts To determine where we're going to post Certain things Especially when we make sales With the use of the sales forms The invoices and the sales receipts Are going to be driven by those items So that when we record these It's as easy as possible And they then are going to help us to determine Which accounts are impacted On the financial statements That being the balance sheet and the income statement As well as any kind of other reports All other reports being some kind of Added detail related to in some way Some line item or multiple line items On the balance sheet or income statement Profit and loss


I connect with his Excellency, the Prime Minister. We sat down, he mentioned antifragile. We spoke about bouncing back from adversity. And we spoke about central risk-taking. So it was wonderful. They also commanded India on the response to COVID and how India was very efficiently dealt with it, particularly with the food distribution and all of that.


At a major medical center, a registered nurse cares for an undiagnosed TB patient. As a result of this exposure, she develops multi-drug resistant tuberculosis. The nurse is forced to give up her job for two years and undergoes three years of treatment, which includes the removal of half a lung. Five medical personnel are present during a three hour autopsy. Afterward, they convert from negative to positive TB skin tests. Two of these infected workers develop active TB eight weeks after testing positive. In both of these real-life cases, TB was transmitted through the air from patient to worker. Proper use of certified respirators could have prevented these potentially life-threatening infections. The National Institute for Occupational Safety and Health presents Respirators. Your TB Defense. For much of the 20th century, tuberculosis was a major public health concern. TB sanatoriums could be found in all major cities and a generation of researchers work to eradicate this highly contagious, highly debilitating and potentially fatal disease. Their efforts paid off. Effective drug interventions were developed and the medical community gained valuable insight into the mechanics of TB infection and transmission. The number of TB cases in the U.S. began to decline at a rapid pace. With good reason, many believed that the war against tuberculosis was over, one at last. But more recently, the incidence of TB actually showed an increase, reversing this decade's long trend. The number of reported TB cases rose considerably from 1985 to 1992. Despite the rigorous infection control standards of today's healthcare facilities, there have been documented outbreaks of tuberculosis in modern hospitals. Many workers have developed the disease during the course of such outbreaks and a small number have even died. Although drugs used to treat TB are usually safe and effective, they may cause side effects in some people. Some TB bacteria have become resistant to the very antibiotics that were once so effective at halting the disease. TB caused by these bacteria is known as multi-drug resistant tuberculosis or MDR-TB. As with many infectious diseases, the key to reducing the spread of tuberculosis in healthcare settings is prevention. Tuberculosis is a serious disease that primarily affects the lungs, although it can affect other parts of the body as well. It is usually transmitted by droplets in the air. Tuberculosis bacteria can be released into the air whenever a person with active TB coughs, speaks, sneezes, or merely breathes. Infection can be detected by a TB skin test. The infection itself may remain dormant for an indefinite period of time, often not causing disease. However, infection can lead to active disease. Symptoms of active TB include cough, fever, chills, and weight loss. The first line of defense against the spread of TB in a healthcare facility is to identify, isolate, and properly treat contagious patients. Nearly all TB patients will become non-contagious given appropriate treatment. Special ventilation that removes bacteria from the air and bacteria killing ultraviolet lights can also help stop the spread. In addition to these primary control measures, special protection is necessary when you are in close contact with a contagious TB patient. For these situations, a very specific form of protection is needed. The respirator. A respirator is a device that protects the wearer from harmful airborne agents. Depending on design, respirators either purify or supply the air breathed by the user. A respirator can be a half mask, full face piece, hood, or helmet. When working in an environment where the air is contaminated with TB bacteria, wearing a respirator can reduce your chances of becoming infected with TB. There are a lot of different strains up here. Just the most important thing is, be careful and realize that this is an airborne serious disease. Your organization's infection control committee or respirator program administrator will determine when respirators should be worn and which employees are required to wear them. Furthermore, OSHA, the Occupational Safety and Health Administration, currently requires the use of respirators whenever specific hazardous respiratory exposures can occur. OSHA further mandates that only certified respirators should be used. Respirators are certified by NIOSH, the National Institute for Occupational Safety and Health. All certified respirators are given a certification number found on the approval label. The label also contains other important information about the features and limitations of the respirator. Make sure that you are familiar with these specifications before using the respirator. Approval information can be found on the filter, container, or instruction sheet. Respirators that protect against TB have several different designs. Some designs are better suited to certain work environments than others. A respirator that is appropriate and effective for a given situation may not be the best choice under different conditions. Although your program administrator will ultimately decide what kind of respirator should be used in a given environment, you should always be familiar with the types of respirators used for TB protection. Respirators that protect against TB fall into one of two main categories, air purifying and atmosphere supplying. There are two types of air purifying respirators. The first type of air purifying respirator is called non-powered particulate. Particulate respirators remove small particles such as the bacteria that cause TB from the air you breathe. This type of respirator is also known as a disposable filtering facepiece. These respirators should be promptly discarded when they begin to wear or become soiled. Some models achieve this through the use of replaceable filters as seen here. Particulate respirators offer protection in TB isolation rooms as well as other areas that may require respiratory protection. Whether their filters are replaceable or disposable, non-powered particulate respirators tend to be lightweight and do not restrict mobility. They are also the lowest cost type of respirator available. However, if a particulate respirator contains an exhalation valve, it should not be used in a sterile field such as an operating room. An exhalation valve allows droplets and particles exhaled by the worker to escape, which can potentially contaminate the surgical field. Therefore, if conditions warrant respiratory protection during an operation, make sure your respirator is not equipped with such a valve. Another kind of air purifying respirator is known as a PAPR, or Powered Air Purifying Respirator. These respirators use a motorized blower to pass contaminated air through a highly efficient filter. The blower is powered by a battery pack attached to the wearer, usually at the waist. The filter removes airborne contaminants and supplies purified air to a facepiece, hood, or helmet. PAPRs offer an advanced level of respiratory protection and should be used when disposable or replaceable half-masks do not provide adequate protection. Your employer should perform a risk assessment at your facility to determine when the use of PAPRs may be necessary. Like other respirators, a half-mask PAPR can be worn in conjunction with a face shield for protection against body fluids. As with some non-powered particulate respirators, powered air purifying respirators should not be used during sterile procedures because they exhaust air contaminated by the user. And those are the air purifying respirators that protect against TB. When it comes to atmosphere supplying respirators, there is one main type you need to know about. The positive pressure supplied air respirators should be used when greatest protection is needed. Supplied air respirators use compressed air from a stationary source. This air is delivered through a pressurized hose to a half-mask or full facepiece. Again, your employer will determine when this advanced form of respiratory protection is necessary. Whichever respirator you must wear on the job, always make sure that it is NIOSH certified. You should also be aware that a surgical mask is not a respirator. Research has shown that such masks do not effectively filter out TB bacteria and have poor fit qualities. Most respirators come in three sizes, and you will undergo a formal fit test to determine which respirator fits you best. A fit check is something you do yourself every time you put on a respirator. This is done to ensure that you have put it on correctly. Manufacturers' recommendations for fit checking are usually found in the packaging. Be aware that any type of facial hair from stubble to beards compromises the fit of a respirator. If you have facial hair, you should use a respirator that does not rely on a tight face seal, such as a hooded PAPR. For individuals with latex allergy or sensitivity, the latex seals found on many disposable respirators can cause reactions, such as rash. If you experience an allergic reaction, talk to your employer about using a latex-free respirator or one without a face seal. Your respirator will require routine cleaning, inspection and other maintenance. Always follow the manufacturer's instructions when performing any such tasks. The manufacturer's recommendations should also be followed when it comes to disinfecting your respirator. Of course, disposable respirators cannot be disinfected and should only be assigned to one person. They should simply be discarded and replaced once they show signs of wear or soiling. While they are in use, all respirators should be stored in an area where they are protected from damage and contaminants, such as individual bins. If you have specific questions about respiratory protection, you should consult your facility's program administrator. OSHA requires that a formal respirator program be in place at every facility where respiratory protection is necessary. Your employer must provide a qualified administrator to run all aspects of the program. If you experience any problems with your respirator, like discomfort or difficulty communicating with coworkers, consult your program administrator for possible solutions or alternatives. Never take it upon yourself to discontinue respirator use for any reason. Here at the hospital, we train all of our workers here in orientation. They go through the orientation program and we tell them all about tuberculosis, the fact that it is airborne and that they're going to need to wear specific type of respirators. We feel that we need to be vigilant at all times and they need to know how to wear the respirator and when to wear it. All respirator programs are required to provide standard operating procedures in writing in the following areas. Permissible practices for respirator use, respirator program administration, respirator selection, inspection of respirators, cleaning and maintenance of respirators, storage of respirators, training in respiratory protection, fit testing of respirators, respirator program evaluation, medical surveillance of respirator users. Most respiratory issues that you encounter on the job will be addressed by these policies. Should you require any additional information, contact NIOSH at 1-835-NIOSH. Proper respirator usage not only protects your health, but also ensures your ability to care for those who need it the most. More than just your own life may depend on it. Respiratory protection is not merely a sidebar or an add-on to your daily duties. It's just as valid and necessary as all the other safety precautions that you take every day without the slightest doubt of their importance. Respiratory protection is no different. Learn the respirator defense. Understand why it is so critical and practice it without fail so that you can be counted among the healthcare professionals who fought tuberculosis and won.