Inventory in quickbooks desktop. How to set up inventory in QuickBooks Desktop

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Choose Preferences and from the list to your left, click on Items & Inventory. To create a new Non-Inventory Part item in QuickBooks Desktop Pro, click the “Item” button in the lower-left corner of the list window. Then. Learn how to add, edit, and delete items in QuickBooks Desktop for Windows and Mac. Items are anything your company buys, sells or resells, such as products.


Inventory in quickbooks desktop. QuickBooks Advanced Inventory


When you turn on Advanced Inventory , you can track inventory stored at different sites or locations. For example, you might store inventory at different warehouses, in multiple trucks, in different areas within a warehouse, at consignment locations or at outside manufacturers. To make sure your quantity on hand by site is accurate, you need to set up Advanced Inventory correctly.

Follow the steps in Turn on Advanced Inventory to do so. The first step to track multiple inventory sites is to tell QuickBooks Desktop where you track inventory. These locations are called sites. Sites can be actual warehouses with different addresses, trucks, piles, staging areas, or any other locations—large or small—where you want to track inventory quantities.

When you have completed this step, you can proceed to Step 2 if you are switching from a different method of tracking multiple inventory sites or Step 3 if you need to set reorder points for each site. Otherwise, proceed to Step 4. You may currently use a different method with QuickBooks Desktop or another software to track multiple inventory sites. Before you use multiple inventory sites, you need to ensure that your inventory numbers are correct so you can easily transition to using Advanced Inventory.

Depending on your current method, you may need to take additional steps to switch to Advanced Inventory. For detailed instructions, find your current method from the list. If not listed, look at the option “You use another method. You track inventory at multiple sites outside of QuickBooks for example, in Excel or different software. With this method, you use different software to track how much inventory you have at each site. You create separate items sub items or assemblies for each site.

With this method, you use a naming method or structure to distinguish between items at different sites. For example, if you have 3 warehouses, you use 3 items to represent the same item located at each warehouse.

After making all adjustments, the net effect on the adjustment account should be zero. However, if each item that represents the same item at different locations has different average costs, the net effect won’t be zero. There are 2 ways to handle this problem. Talk to your accounting professional. If the value differences are small create a special inventory adjustment account for this transaction, and make your adjustment. Then have your accounting professional write off this amount.

With this method, you use classes to represent each site or location. Then you classify inventory purchase and sales transactions. Switching from this method is easy. Simply stop using this method, and follow these steps:.

With Advanced Inventory, you can track site-specific reorder points for each item. This means you can have a different reorder point for each site, and QuickBooks Desktop can warn you when you’re running low at a specific site. Reminder that site reorder points do not “roll up” add up to calculate a global reorder point.

You must set the global reorder point for each item. When you turned on Advanced Inventory, QuickBooks Desktop prompted you to begin with a single, temporary starting site. Consequently, QuickBooks Desktop shows that your entire inventory is stored at one location.

Now you may be ready to transfer your inventory from the starting site to their actual sites. To do this step, you need current inventory counts for each site. Tips and tricks If you want to transfer the same items to multiple sites, you can save time by duplicating the inventory transfer:. A site column appears on all forms invoices, purchase orders, and so on you see onscreen. However, this column doesn’t appear when you print the form.

To work around this, you can customize your form template so you can add or remove columns:. This final step is only necessary if you have memorized transactions that include inventory part items. If so, you should edit the memorized transactions to enter the site information. Need to make changes or updates to your accounts or subscriptions? Visit the Account Management Page.

QuickBooksHelp Intuit. Reminder These steps are complicated and require good working knowledge of QuickBooks. Consider getting help from a QuickBooks ProAdvisor or your accounting professional. If the value differences are small Talk to your accounting professional. Note the value of these adjustments for the next step. Adjust the quantity of the item you are keeping. Increase the value of the adjustment by the amount you noted in the step above. From the Adjustment Account drop-down, select the account you normally use.

From the Inventory Site drop-down, select the inventory site you set as your default when you turned on Advanced Inventory. Select Add Multiple Items , then choose the items that represent the same item across multiple sites.

In the rows that contain the redundant items the ones you’re NOT keeping , enter 0 in the New Quantity column. Calculate the sum of the Qty Differences for all these redundant items. In the row that contains the item you are keeping, add the quantity from step 7 in the Qty Difference column as a positive number.

In the New Value column, set all values to 0. Note the Total Value of Adjustment amount in the bottom right of the window. In the row that contains the item you are keeping, enter the amount you noted in step 10 in the New Value column.

The Total Value of Adjustment should now be zero. Reminder Advanced Inventory doesn’t classify income and expenses. It only tracks inventory. You should still use class tracking to classify “non inventory related” income and expenses at different locations. To select individual items: Go to the Item column. Select the drop-down and choose an inventory item. Check the items you want to transfer then select Add Selected Items. Tips and tricks If you want to transfer the same items to multiple sites, you can save time by duplicating the inventory transfer: From the Inventory menu, select Transfer Inventory.

Select Previous until you find the transfer you want to duplicate. Select Edit then Duplicate Inventory Transfer. Change the details of the transfer as necessary. Was this helpful? Yes No. You must sign in to vote, reply, or post. Sign in for the best experience Ask questions, get answers, and join our large community of QuickBooks users.


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