A Guide to QuickBooks Inventory
Inventory tracking is the first step in proper management.
These are some features of QuickBooks Inventory.
With custom images, it’s easy to see your inventory at a glance.
It creates organized product lists. So you can find exactly what you’re looking for and finish your reporting faster.
our inventory quantities are automatically gets updated Whenever you buy and sell products.
What you need to reorder and it provides real time inventory valuation to keep all your financial statements up to date.
It also helps you stay on top of your purchase orders.
Every detail of what you’ve ordered is being tracked and you can see the contact information of all vendors in one place.
By QuickBooks, It is easier to manage your business with the tools you are already using to track expenses.
So when you’re focusing on a million things. There’s only one place you need to go QuickBooks sign up today.
How to Manage Your QuickBooks Advanced Inventory?
If you sell products. You know that tracking your inventory is important to your business.
First be sure you’re using QuickBooks Plus which includes inventory tracking. Then be sure your settings are ready for inventory tracking. If you have a lot of different products, you want to group together. You can use categories to find your products more easily. You can also filter your reports by category. Add categories that make sense for your business.
For adding categories.
Click on settings -> Product & services -> Manage Categories -> New Categories -> Then Add name or sub category according to your need.
You can nest categories to four levels by creating subcategories. When you’re ready to add your products to QuickBooks you can enter each product manually.
You can even add a picture of your product.If you’ve already got a long list of products in a spreadsheet, you can import them and save a lot of time. Be sure to check out the sample file before you import.
It works best if you use the same column headers you see in the sample file. After you’ve got your products all set up you are ready to start buying and selling products.
To purchase products or to sell create a purchase order to send to your vendor. when you receive the products you ordered, copy the information in the purchase order to create a bill.
Creating a bill from the purchase order. Let’sQuickBooks online know you’ve received the items you’ve ordered. Then increases the quantity on hand by the number of items you’ve ordered when you sell products. You can create an invoice to receive payments later or a sales receipt.
If you’ve already received payment. After you’ve saved the invoice or sales receipt, decreases the quantity on hand of the product you sold by the amount on the sales form you can always adjust the quantity on hand of any product in your list.
Reports give you a picture of your sales by product service summary. It shows you your best selling products. Inventory valuation summary shows you the value of your inventory. Take some time to explore all the inventory reports to find the one that’s most valuable to you now it’s your turn to track your inventory in QuickBooks. If you need help. We’re always here for you.
Reference:A Guide to QuickBooks Inventory
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