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Frinntintin
March 5, 2024
Question

I've Received Inventory without Bills, paid with a credit card, and now need to show that those bills were paid

  • March 5, 2024
  • 1 reply
  • 0 views

Here is my situation that I could use some help on: I purchase items at wholesale, bundle them into curated gifts and re-sell them. I buy most of my inventory on a wholesale marketplace and pay with a credit card at checkout. 

 

I've Received Inventory without Bills because I figured that I had already paid with a credit card and wasn't really getting 'invoiced'. Now, I need to show that the bills were in fact paid because all my vendors only have item receipts associated with them. 

 

What is the process I need to take so that my books show that I've paid for the inventory?

1 reply

A
Alex M
March 5, 2024

Hi there Frinntintin,

 

Thanks for reaching out about entering your inventory. QuickBooks Desktop is a great tool able to help you keep track of sales and purchases of inventory so you know how many you have on hand. I can point you in the right direction for assistance with entering these transactions properly.

 

In order to know how you should be entering this into your inventory, and if any modifications are needed to be done on the prior credit card payment, I recommend reaching out to your accountant. They'll be able to view the entries already done in order to assist in making sure all affects your books correctly. You can find an accountant that has experience using QuickBooks software near you by checking out our Find an Accountant page.

 

If you have any other questions, feel free to reach out here.

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