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A
ARTAartsdelatable
May 28, 2021
Question

Enter new inventory items as Ower's Equity

  • May 28, 2021
  • 1 reply
  • 0 views

I want to add new inventory as part of owner's contribution. 
I started the inventory with 100 bottles of products at 1$ each, now I want to add a new 50 bottles of products at 1$ each, same cost. This new 50 bottles needs to be added as an Owner's Contribution. 

I already setup-ed the item in the inventory, my owner's contribution account is already opened.

Thank you

1 reply

J
JamesM4
May 28, 2021

Hi ARTAartsdelatable,

 

I'm glad to learn you're taking advantage of the amazing features which QuickBooks offers. I'd be happy to steer you on the right path so you can record your inventory with confidence. 

 

Making sure you're recording transactions the right way is a good exercise for preventing errors in your books. I recommend contacting an accounting professional to get more info on this. If you're not in contact with one, I encourage you to search for one on our website using this link here. Doing this will help prevent any discrepancies on your account. In the meantime, check out these helpful articles here:

 

 

I'll also leave this post here in the Community so that accounting professionals can chime in on this. In the meantime, feel free to ask other questions by leaving a comment below. I'm here to help. :)

A
ARTAartsdelatableAuthor
May 29, 2021

I know those two steps. What I don't remember, is how do I record adding the items in the inventory, when it comes from the investor external company. He added inventory, as a part of his equity's contribution, after the company started selling and buying those products. 

Do I record the total value in the owner's contribution as a bank deposit, then pick from the bank account the products to add to the inventory?

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