Inventory is necessary for the business part. QuickBooks provides you a facility to update the inventory part and to manage the business more efficiently. An inventory is one type of item and is maintained on the list >>item lit menu section. An Inventory part also describes the item that your firm or company keeps for sale to the customer. It can be stocked or sold as per the company’s wishes. In today’s article, Set up Inventory in QuickBooks Desktop we will discuss setting up the inventory in QuickBooks.
Before going forward you need to turn on the inventory tracking to track the inventory part. After that follow the below steps.
- How to Set up the inventory set up the QuickBooks Desktop
- How to set up the Non-Inventory Parts?
How to Set up the inventory set up the QuickBooks Desktop
For setting up Inventory parts
- Open the QuickBooks
- Click the Edit menu in the menu bar and select Preferences
- Then Click Items and Inventory and then click the Company Preferences tab
- Click the box which is next to Inventory and Purchase orders are active to allow inventory tracking
- Click Ok
- On the home window click Items and services
- Click the item button and select New
- From the drop-down Select Inventory Part
- Mention the name of the inventory item in the item name
- Click the Income account drop-down menu and select the account which you want to use to track income
- Fill the rest information on the form as per the requirement
- Click the ok button to design an inventory part
How to set up the Non-Inventory Parts?
- Go to the Home window and click “Items and Services”
- Click the Item button and then click the New button to open a new window
- From the drop-down menu select the Non-inventory part
- Mention the name for the item in the ” Item name /number ” text box and select the account to which you want to link the account drop-down menu
- Fill in all the rest information for the item if needed and at last click the ok button to add the non-inventory part
By following the above steps you can easily set up the inventory in QuickBooks as per your choice and still if you need any help, immediately get back to the experts so that they can give you an instant solution.
Need Experts Help?
Still, searching for guidance? Feel free to connect yourself to the QuickBooks Helpdesk. QuickBooks Helpdesk is available 24*7 to give you instant and quick Set up Inventory in QuickBooks Desktop. Team members are professional, polite, and eager to help the customer, even they always try to resolve the issue in minimum time. QuickBooks 24*7 Support members are having years of experience which is a plus point as they catch the error very fast and resolve it within time. You can take support or guidance for any error, query, or doubt, we are always available for you.
How to set up inventory sites after setting up inventory in QuickBooks Desktop?
1. In QuickBooks, click on the Lists menu
2. Then select the Inventory Site List
3. Select the Site button
4. After that, click on the New button
5. Mention all the important information asked
6. If you have more than 1 site then repeat the above process for all the sites.
How inventory status can be adjusted after setting up inventory in QuickBooks Desktop?
To adjust the inventory Quantity or value you have to choose the kind of adjustment that you want. Then set up the account for inventory adjustment. After that, adjust the inventory like product quantity, value, etc. When you are done then check that inventory status is correct in the reports and you are done.
What if I want to transfer the same items to multiple sites after setting up inventory in QuickBooks Desktop?
1. In QuickBooks, go to the Inventory
2. Click on the Transfer inventory
3. Then select the Previous until you find the transfer that you want to duplicate
4. Click on the Edit option
5. After that, select the Duplicate Inventory Transfer
6. Now you have to change the details of the transfer
7. Click on Save and New button if required
8. You have to repeat steps for each site of inventory
9. When you are done with all sites then click on Save and Close button.