QuickBooks® 2014 In Depth

6. Managing Inventory

Inventory management requires adherence to a strict process to monitor the items being purchased into stock and later being sold. Failure to have these processes in place can wreak havoc on the company’s financials by misstating the value of the inventory or the associated costs for that inventory. This chapter provides details on how to use QuickBooks to properly manage your inventory activities.

Adjusting Inventory

For companies that track inventory, I find that inventory balances receive less attention than the company’s receivables and payables. You review your accounts receivable because you have customers that need to pay you. You keep up with your accounts payable because you have vendors that won’t supply you without ...