Solved

Inventory quantities and dates on invoices

4 replies
0 views

If I enter an invoice dated Dec 31 for a customer that gets invoiced monthly, but take physical inventory on Dec 30, will the quantity on hand include all items on all invoices including the Dec 31 invoice? Or will I need to add back into my Dec 30 physical inventory the items from the Dec 31 invoice for an accurate count? I thought inventory on hand went by date, but recently discovered that it seems like it instead reads all invoices, even those in the future for an accurate count. Anyone else figure this out?

QuickBooks Online

RainflurryAnswer

@snsmile

It depends on which report you're using for inventory. If you're using the Physical Inventory Worksheet, the items will be removed when the invoice is created, regardless of the date of the invoice. If you're using the Inventory Valuation Detail or Inventory Valuation Summary reports, the items will be removed as of the invoice date, not the date the invoice was created.

R

rvrfrf

Thanks for getting in touch with the Community, snsmile. I appreciate your detailed information.

When an invoice is created in QuickBooks, the amount on hand for each inventory product included on your invoice is decreased by the amount you specified on your sales form.

What you're seeing is the accurate count for your quantity on hand amount. The product is taken out of your inventory when the invoice is created.

You can learn more about tracking inventory in our Set up & track your inventory article.

Please don't hesitate to send a reply if there's any additional questions. Have a great Tuesday!

RainflurryAnswer

@snsmile

It depends on which report you're using for inventory. If you're using the Physical Inventory Worksheet, the items will be removed when the invoice is created, regardless of the date of the invoice. If you're using the Inventory Valuation Detail or Inventory Valuation Summary reports, the items will be removed as of the invoice date, not the date the invoice was created.

S

snsmileAuthor

This was exactly what I was looking for. Thanks!

Sign up

Login with SSO

Login to the community

Login with SSO