QuickBooks® 2008 Solutions Guide for Business Owners and Accountants

Chapter 10Reviewing and Correcting Inventory Errors

• Overview of the Accounting for Inventory

• Preferences That Affect Inventory

• Inventory Processes and Forms and Their Effect on Accounting

• Reviewing and Troubleshooting Inventory Balances

• Correcting Inventory Errors

• How QuickBooks Handles Negative Inventory

• Inventory Checklist

Overview of the Accounting for Inventory

Inventory can be described as a company’s merchandise, raw materials, and finished and unfinished products that have not yet been sold.

QuickBooks can track the products you purchase, stock, and then later sell to customers. QuickBooks can also track the products that you assemble (component) and use to create a product for sale (finished good).

QuickBooks ...