What is a Product/Service?

When creating an invoice to send to your customers, you will see a field called 'Product/Service' on the same line where you put in the invoice's description, quantity, price, etc. This field may appear to be a bit less typical in comparison to the other fields, but not only is it easy to digest, it's also crucial to your business' financial reports pulling good data for you to review!

So what IS it?

Think of a 'Product/Service' as exactly what it's called: either a product that you're providing to a customer, or a service that you are performing for them. For example, if you run a landscaping company, you could create a 'Product/Service' called "Lawn Cut - Standard". Once you've done this, each time that you choose this 'Product/Service', it will impact the same area of your budget/accounting/financial reporting. This allows you to have correct and detailed reporting for your business' financials.

How do I get to this?

You can get to the Product/Service page by taking the following steps:

  • Click on the Advanced Tools tab, then on Product/Service tab. 
  • This will take you 'Manage Products/Services' page where you can add/edit/delete your company's Products/Services options
  • There is also a quick add feature for Products/Services on the 'Add Invoice' page
    • To learn more about creating an invoice, please click here.

How do I set these up?

Setting up your Products/Services is pretty straightforward: choose a name, choose a category to code against, and add a dollar amount if you would like.

  • Choosing a name: make this a name that simply describes the product or service you are billing for, such as a standard lawn cut, like in our example above.
  • Choosing a category: This only requires you to pick where you would like this product or service to impact your budget, which in turn impacts your business' financial reports.
    • This allows you to have good insight into your business in terms of money coming in and money leaving. If you'd like more information on categories, please click here.
  • Choosing a dollar amount: This is an optional field, but if you would like a certain Product/Service to always be the same amount, you can enter it here. 
    • This would be useful if, like in our example, your business always charged $50.00 for a standard lawn cut.

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