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To use products and services in quickbooks online is to track what you are selling to customers and what you are buying from vendors. That helps us to categorize income and expenses and are essential for invoicing, sales receipts, and reporting.You can create different types of items like inventory, non-inventory, and services, and organize them into categories for better management.

To setup the asset account in quickbooks online, first navigate to the chart of account, select the new account, select “fixed asset” or “other asset” as the account type, fill the appropriate details and name the account Check the "Track depreciation of this asset" box if you want QuickBooks to manage depreciation for this asset.

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In QuickBooks Online and Desktop, an invoice is a document used to request payment from a customer for goods or services provided. It details the items sold, their prices, and the total amount due, acting as a bill for the customer. To create an invoice in QuickBooks Online or QuickBooks Desktop, you'll need to navigate to the invoice section, fill in the customer and item details, and then customize and send the invoice.

A simplified version of Quickbooks, quickbooks self-employed is created for independent contractors, freelancers, and single business owners. Especially for those who include schedule C with their income tax form, it focuses on fundamental accounting duties like keeping track of earning and expenses, controlling mileage and tax preparation.

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