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When I first started using QuickBooks, I was very confused about Items, and didn't really g

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

et what they did. I understood the concept of Inventory Items, but the other types of Items

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

made little sense to me.

And on many of the accounting forums I post to, I see that others

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

are confused about Items as well. Take this statement, recently posted on the quickbooksgro

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ps.com forum by somebody looking for help with Items:

I am trying to find out what the

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

fundamental difference is between "expenses" and "items".

As you probably already know

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

on some forms in QuickBooks you have a choice of which to use: the Expenses tab, or the It

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ms tab. The Expenses tab allows you to post directly to the chart of accounts. The Items ta

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

does not. So what happens when you use the Items tab?

After a long while, I finally figur

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ed out a quick and easy definition of Items in QuickBooks:

Items are simply a way of po

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ting transactions to the chart of accounts!

Based on some of the other definitions you

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

may have seen, this sounds too easy. Yet it’s true.

Items are an intermediary step between

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

you and the chart of accounts. But their function is simple: they take your transaction, an

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

d post it to the chart of accounts based on how you set them up initially.

If you are usin

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

Items and are unsure of which accounts they post to, go to the Items list, select which It

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

m you want to examine, and press Control-E. You will be able to see which account (or accou

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ts) it posts to.

Although these instructions are true for all Item types, for beginning us

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ers of QuickBooks, I think they make the most sense for the following types:

Service

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

on-Inventory Part
Other Charge
Payment

Start understanding these types, bas

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

d on my definition. See if it doesn't improve your ability to work with Items in QuickBooks

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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