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Anonymous
April 9, 2019
Solved

How to transfer inventory between locations in QBO?

  • April 9, 2019
  • 5 replies
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Best answer by Rustler

@545825 

 

1. QBO does NOT have multiple locations for inventory

 

2. the location tag is for transactions, not actual locations

 

3. adjusting inventory does NOT work, cost is expensed and if the listing did have another item to increase that was the same, cost for the increased item would be zero.  Be really dumb to have two of the same inventory item because that would mean you have to order and stock each individually

5 replies

SophiaAnnL
SophiaAnnL
April 9, 2019

This looks like a good addition to the program, Praveen Uduweriya.

 

Transferring inventory items from one location to another is a feature that's only available in QuickBooks Desktop. QBO doesn't have this option at this time.

 

I've also seen some posts from other users about having this option. That being said, I'll be sure to send your request to our developers. The updates we roll out are usually based on the suggestions we get from the users.

 

I'll be right here if you need more help. Thanks.

R
Ryan001
December 8, 2020

Hi Sophia - Any update on this?  This would be a huge help.  Thanks

MaryLurleenM
MaryLurleenM
December 8, 2020

Hello there, Ryan001,

 

Moving inventory to a different location is still unavailable in QuickBooks Online.

 

You can visit the QuickBooks Blog to see the latest features and updates. We post the latest features added and how you can use them to run your business better.

 

Let me know if you have other suggestions.

Rustler
RustlerAnswer
April 9, 2019

@545825 

 

1. QBO does NOT have multiple locations for inventory

 

2. the location tag is for transactions, not actual locations

 

3. adjusting inventory does NOT work, cost is expensed and if the listing did have another item to increase that was the same, cost for the increased item would be zero.  Be really dumb to have two of the same inventory item because that would mean you have to order and stock each individually

M
Malcolm Ziman
April 9, 2019
@Rustler wrote:

  Be really dumb to have two of the same inventory item because that would mean you have to order and stock each individually

If the 2 locations have different physical addresses, then you would have to order and stock each individually anyhow. If they are different aisles in the same warehouse then it may not make sense

Rustler
Rustler
April 9, 2019
@Malcolm Ziman wrote:
@Rustler wrote:

  Be really dumb to have two of the same inventory item because that would mean you have to order and stock each individually

If the 2 locations have different physical addresses, then you would have to order and stock each individually anyhow. If they are different aisles in the same warehouse then it may not make sense

A different address means one of two things

a warehouse, secondary to the company, over stock stuff - in which case it needs to be a bin number location kind of thing (not possible in QBO) since you can not juggle FIFO costs from one to the other if you refill the primary location from the secondary  (well you can but it is a mess IMO and not something the typical user is going to keep up with)

or

a different retail outlet, in which case it has its own set of books.  The parent may put in a consolidated order to get better pricing, but the movement of inventory, has to be receive, and sell even if at cost)

M
Malcolm Ziman
April 9, 2019

You can do this with one transaction, a zero Sales Receipt. On the first line enter the Item being transferred as a negative qty and on the 2nd line enter the Item received as a positive qty, both with a sales price of zero.

You can use inventory Categories to name the locations, and have the items under the Category. You will have to set up different Items for the same product:

Location1:Item1

Location2:Item1

Not sure if you can repeat "Item1"

Rustler
Rustler
April 9, 2019
@Malcolm Ziman wrote:

You can do this with one transaction, a zero Sales Receipt. On the first line enter the Item being transferred as a negative qty and on the 2nd line enter the Item received as a positive qty, both with a sales price of zero.

You can use inventory Categories to name the locations, and have the items under the Category. You will have to set up different Items for the same product:

Location1:Item1

Location2:Item1

Not sure if you can repeat "Item1"

cost is the issue, when you sell, cost posts to cogs, putting the item on a sales receipt is selling

 

the negative one for the new item, works to increase qty stocked, cost is another matter entirely, it is either zero cost or some nebulous number based on the previous cost entered on the item screen - and is not necessarily the FIFO cost that was expensed as it should be

 

not good

    T
    tariqasghar
    July 4, 2019
    How about this... seems to work for my need 1. You have two stock items with different categories ( Warehouse1 Stock Item 1, W1S1 and Warehouse 2 Item 2 W2S2) 2. You do a negative stock adjustment from W1SI and note down the Cost it came out at 3. Edit stock item W2S2 and change the Purchase Cost to the W1S1 entry as above 4. Do a positive stock adjustment for W2S2 Result is you have transferred from W1S1 to W2S2 at the same FIFO cost Maybe I have missed something ?
    A
    Anonymous
    August 12, 2019

    Yep that's a clever way of doing it

    M
    Mohamed Abdoulkader
    December 7, 2019

    1. Capture invoice 

    Generate invoice to the location that you are transferring to, this will deduct your inventory and will increase your receivables. At the same time will result Sales price and Cost price to be zero (0) due to AT COST CHARGE between locations.

    Transfer of inventory from Location 1 to Location 2

    Location 1

    Generate invoice at cost this will result:-

    Dr. Receivables and Cr. Sales

    Dr. Cost of sale and Cr. Inventory 

    Sales will increase and Cost will increase at same rate resulting 0 impact on your bottom line profits.

     

    Location 2

    Generate Bill at cost this will result:

    Dr. Inventory and Cr. Trade payables

     

    Thus to eliminate inter-company transactions pass a Journal Voucher

    Dr. Trade Payables and Cr. Trade receivables for both locations.

    Dr. Sales and Cr. Cost of sale for location 1 

     

    This will eliminate balances between the locations and will only leave inventory balances which are:

    Dr. Inventory (Location 2)

            Cr. Inventory (Location 1)

    Hope it solves something. 

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