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Now that you have learned how to set up the chart of accounts (part 1 and part 2) in QBO, the next step is for you to learn how to set up products and services list in QuickBooks Online. The products and services list represents the list of products and/or services that you sell. You will use items from the products and services list when you create customer invoices, enter purchase orders, and work with inventory.
Full blog post here: http://5minutebookkeeping.com/how-to-set-up-products-and-services-list-in-qbo/