In QuickBooks Online, bundles are a feature that allows you to group multiple products or services together as a single item. Bundles are commonly used when you sell multiple items as a package or offer special promotions. When you create a bundle, it represents a combination of different products or services that can be sold together.
Here's how bundles work in QuickBooks Online:
1. Creating a Bundle: To create a bundle, you need to navigate to the Products and Services list in QuickBooks Online. From there, click on the "New" button and select "Bundle" from the options. Give the bundle a name and description to help you identify it.
2. Adding Products/Services: After creating a bundle, you can add the products or services that make up the bundle. You can select existing items from your Products and Services list or create new items on the fly. Specify the quantity of each item that should be included in the bundle.
3. Pricing and Inventory: Bundles can have their own unique price. You can set a specific price for the bundle or use a pricing rule that calculates the total based on the individual items' prices. Additionally, if the items within the bundle have inventory quantities, QuickBooks Online will track the inventory levels accordingly.
4. Sales and Invoicing: When you sell a bundle, you can select it from the Products and Services list while creating an invoice or sales receipt. QuickBooks Online will automatically expand the bundle to show the individual items included. You can modify quantities or prices if needed. Selling a bundle reduces the inventory levels of the individual items if they are tracked.
5. Reporting: QuickBooks Online provides reports that help you track the sales and profitability of your bundles. You can view the sales history and monitor the performance of each bundle to determine which ones are the most popular or profitable.
It's important to note that bundles in QuickBooks Online are different from assembly items or kits, which involve combining inventory items to create a new item with its own inventory. Bundles are non-inventory items, meaning they don't have their own inventory levels. Instead, they represent a combination of existing products or services.