Skip to Main Content
QuickBooks 2014: The Missing Manual
book

QuickBooks 2014: The Missing Manual

by Bonnie Biafore
October 2013
Intermediate to advanced content levelIntermediate to advanced
808 pages
27h 8m
English
O'Reilly Media, Inc.
Content preview from QuickBooks 2014: The Missing Manual

Chapter 20. Managing Inventory

As you record inventory purchases and sales in QuickBooks, the program keeps track of your inventory, just as the point-of-service system at the grocery store does when a cashier scans items. This chapter begins by explaining how to turn on QuickBooks’ inventory features and set up inventory items in your company file so the program can work this magic.

Unless you practice just-in-time inventory management, you need inventory in your warehouse to fill customer orders. If you follow the lead of many companies, you start off by creating purchase orders for the inventory you buy, so you can verify that you receive what you’re supposed to. The next step in the inventory process is receiving the inventory and paying for it. Finally, all that work pays off when you sell products out of inventory to your customers. This chapter shows you how to create purchase orders, receive inventory, and pay for it. Recording inventory sales is just like recording any other sales. Behind the scenes, QuickBooks handles the extra money transfers between accounts. You’ll learn what the program does to track how much inventory you have (and what it’s worth) as you record all these transactions.

Good inventory management means more than just updating the number of items that QuickBooks thinks you have on hand. To keep the right number of items in stock, you also need to know how many you’ve sold and how many are on order. And to make decisions like how much to charge or which ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

QuickBooks 2009 on Demand

QuickBooks 2009 on Demand

CPA Gail Perry, Laura Madeira
QuickBooks® 2014 on Demand

QuickBooks® 2014 on Demand

Michelle L. Long, Gail Perry

Publisher Resources

ISBN: 9781449341749Supplemental ContentErrata Page