All Entries in the "Inventory" Category

Managing Service Truck Inventory in QuickBooks

QuickBooks by itself does not support multiple locations. To do this properly you need to purchase an add-on program of some sort, which often will keep the inventory in a separate file. There are some simple workarounds that can be used, though. In this article I’ll explain one way that might work if you are trying to track parts that you have assigned to a service truck or other separate location.

Dealing with Scrap in QuickBooks Manufacturing

Many manufacturers have to deal with scrap in their manufacturing process. That is, the consumption of component materials beyond what is defined in the bill of materials due to waste, trimmings, left over sections or other variable consumptions. QuickBooks doesn’t deal with this directly. Let’s talk about some ways to handle it.

Printing a QuickBooks Inventory Adjustment Report

Sometimes you want to be able to see a listing of all of the inventory adjustments made over a period of time. This may be helpful when trying to audit your inventory usage. The steps for getting this kind of information out of QuickBooks aren’t all that obvious, so I’ll give you some tips here.

Closing a Partially Shipped Purchase Order in QuickBooks

When you create a purchase order in QuickBooks the quantity that you have on outstanding PO’s will show in several reports. If you receive a partial shipment on that PO and the remaining balance will not be shipped, you need to close the purchase order to remove the outstanding items on these reports. There have been a number of questions about this lately, so here is an article. 

Custom Fields in QuickBooks Enterprise 10

I discussed custom fields in QuickBooks in an article last year, and it is one of the most popular articles in my blog. Many users depend on custom fields to add features to invoices, sales orders and estimates (and more). The two most common complaints about custom fields have been there need to be more and I need to define the “type” of the field. If you are a user of QuickBooks Enterprise – good news! Intuit has listened.

Paying a Bill Before Receiving Inventory in QuickBooks

Buying inventory is simple in QuickBooks. Create a purchase order, receive the items, enter the bill, pay the bill. Simple! Sometimes things don’t occur in this nice sequence, and it isn’t always obvious what the best procedure would be. What if you have to pay the bill before you have received the items? In this article I’ll give you some suggestions as to how to handle this situation.

QuickBooks Inventory Quantity and Value Adjustments

If everything is working perfectly in your QuickBooks company you won’t need to worry about making inventory adjustments. You will receive inventory items, sell inventory items, possibly even build inventory items (assemblies), and everything will balance out. If that describes your company, great! For the rest of us, though, there are times when we will need to make inventory adjustments. The most common question I run into here is “do I make a quantity or a value adjustment?”

QuickBooks Manufacturing Forecasts: Component Demand

Having an adequate supply of component parts is critical to a manufacturer. If you run out of something, you can’t build your assembly. If you can’t build your assembly, you can’t fulfill customer orders. So let’s talk about how to avoid this if you are using QuickBooks.

Reconciling QuickBooks Inventory Balances

An important part of controlling your inventory is to make sure that your company financial statements match your inventory status. The inventory asset balance in your Balance Sheet should match the value in the Inventory Valuation Summary report. Unfortunately, these values don’t always match, and in this article I’ll talk about some reasons why this can happen, and ways to reconcile your inventory balances.

Shipping Costs and QuickBooks Inventory

What is the “cost” of an inventory item that you purchase? For many businesses we talk about the “landed cost” of the item, which can include not only the purchase cost of the item, but also the shipping cost of the item. In this article I’ll talk about a few ways to handle this in QuickBooks.

The landed cost of an item is usually considered to be the cost of the product plus any relevant logistics costs, such as transportation, warehousing, handling and so forth. The can also be called the  total landed cost or net landed cost.