Tracking inventory overview and set up – QuickBooks desktop Pro Premier Accountant Enterprise

Inventory feature in QuickBooks Desktop can track the current number in stock and the value of your inventory after every purchase and sell the items to your customers. With QuickBooks Desktop Premier or QuickBooks Enterprise versions, you can even keep track of products you assemble and resell (finished goods), adding assembled units to inventory and deducting component units from inventory when you build assembly items.

To start with, you may want to be familiar with these basic steps related to questions about Tracking Inventory in QuickBooks:

1) To turn on Inventory: Go to Edit menu at the top > select Preferences > choose Inventory & Items > Company Preferences > checkbox “Inventory & Purchase Orders are active” > click OK.

Turn Inventory On

 

2) Create Inventory Items: Go to Lists menu at the top > Items List > Select Item tab at the bottom > click Item (or drop-down arrow) and select New > Type = Inventory Part and create a new item.
These three fields are important to set up inventory items. See screenshot sample.
For COGS Account field = Cost of Goods Sold account type from the Chart of accounts
For Income Account field = Income account type from the Chart of Accounts
For Asset Account field = Inventory Asset account which is part of the Other Current Asset on the Chart of Accounts

You do not want to put in On Hand/Total Value info here.

Create Inventory Item

 

3) For adding purchased Inventory items: Use Enter Bills under Vendor menu at the top or Write Checks menu under Banking at the top. Always use ITEMS tab, never Expenses tab.
4) For selling Inventory items: Create Invoice (or Sales Receipt). Use ITEM Code in the sales form. This will also automatically post COGS to P&L by reducing inventory counts.

Enter Bill or Check Use Items tab

Create Sales

Inventory Stock Report

 

If you need more info, you can always click HELP menu at the top and select QuickBooks Desktop Help and type INVENTORY HELP in the search field. If interested, you can also watch my famous how to inventory video tutorials on YouTube.

QuickBooks Desktop Part 10: Inventory – All you need to know about QuickBooks Inventory

Do attachments slow down QuickBooks? Wondering if having all the PDFs in QuickBooks will make it slower

Attaching documents in QuickBooks desktop shouldn’t affect the performance of the software. They are saved on the computer hard drive in a separate folder, and they are not included in a back up of the QuickBooks company file either so that backup file does not grow either. All attaching does in QuickBooks, is to enter a pointer to the hard drive location for the attachment folder.

If you experience slowness with QuickBooks, there may be other reasons like due to a large company file or network issues.

Here’s an article that’ll guide you:

https://community.intuit.com/articles/1019690

 


 
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Troubleshoot Script Errors in QuickBooks Desktop Web Pages

Troubleshoot Script Errors in QuickBooks Desktop Web Pages
QuickBooks Help
From the article: When you try to view a webpage from within QuickBooks, the webpage may not be displayed or work correctly.

You may also receive an error message:

Internet Explorer Script Error:
An error has occurred in the script on this page …

 


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QuickBooks Desktop Pro 2017 Small Business Accounting Software [PC Download] by Intuit

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Internet Explorer script errors received when downloading Online Banking transactions

Internet Explorer script errors received when downloading Online Banking transactions
QuickBooks Help
From the article: Internet Explorer script errors received when downloading Online Banking transactions. This normally happens when the browser is full of stored copy of frequently-accessed page resources …

 


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QuickBooks Pro 2017 and QuickBooks Premier 2017 - Buy Now and Save!
TRY QUICKBOOKS ONLINE (QBO) FOR FREE
TRY XERO ACCOUNTING FOR FREE

Amazon Buy QuickBooks Desktop 2017

QuickBooks Desktop Pro 2017 Small Business Accounting Software [PC Download] by Intuit

QuickBooks Desktop Premier 2017 with Industry Editions Small Business Accounting Software [PC Download] by Intuit

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This Program cannot display the webpage or Navigation to the webpage was cancelled

This Program cannot display the webpage or Navigation to the webpage was cancelled
QuickBooks Help
From the article: When trying to launch a web page from QuickBooks Desktop you receive one of the following messages:

This Program cannot display the webpage.
Navigation to the webpage was cancelled or Action cancelled when trying to receive payments …

 


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QuickBooks Pro 2017 and QuickBooks Premier 2017 - Buy Now and Save!
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Amazon Buy QuickBooks Desktop 2017

QuickBooks Desktop Pro 2017 Small Business Accounting Software [PC Download] by Intuit

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Import items into your company data file from an Excel spreadsheet

Import items into your company data file from an Excel spreadsheet
QuickBooks Help
From the article: If you are importing existing inventory items, you cannot update their Quantity On Hand (QOH), value on hand (VOH) or average cost. For new inventory items you are importing, you can set up a Quantity On Hand (QOH) and a Value on Hand (VOH) and establish an average cost. QuickBooks enters an Adjust Quantity/Value on Hand debiting the item’s asset account and crediting Opening Balance Equity …


 

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QuickBooks Pro 2017 and QuickBooks Premier 2017 - Buy Now and Save!
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TRY XERO ACCOUNTING FOR FREE


Amazon Buy QuickBooks Desktop 2017

QuickBooks Desktop Pro 2017 Small Business Accounting Software [PC Download] by Intuit

QuickBooks Desktop Premier 2017 with Industry Editions Small Business Accounting Software [PC Download] by Intuit

TRY QUICKBOOKS ONLINE FOR FREE

TRY XERO ACCOUNTING FOR FREE