Hi @Kevinhorner
Welcome to QuickFile! 
I moved your topic to it’s own thread as it’ll make it easier for other users to find.
As for your query, that’s correct - you can do it that way. However, QuickFile doesn’t have a way to maintain stock levels.
It’s worth having a look at this Knowledge Base article which shows you how to set up items too:
http://community.quickfile.co.uk/t/setting-up-reusable-inventory-items/8814