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M
Maritza4
November 16, 2023
Question

Inventory Tracking

  • November 16, 2023
  • 1 reply
  • 0 views

How can inventory be tracked without Purchase Orders, Bills, or Invoices? Is there a way to Manually track this? Our company does not always use Purchase Orders to order materials and once materials arrive they sometimes will be assigned to a customer's job site.

 

For example we are not charging the customer for 1 bag of mulch since this is charged to them in their contract to us. If we had to use invoices to track then there would be fake invoices that would not actually be sent to the customer. 

 

Is there a way to track inventory in the way our company needs to? 

1 reply

MorganB
MorganB
November 16, 2023

Thanks for joining us here in the Community, Maritza4.

 

You've come to the right place for assistance with QuickBooks. I'd be glad to share some info about how to manually track inventory in your Online account.

 

To start, you'll need to create an account to track your inventory value. Here's how:

 

  1. Select Settings ⚙ then Chart of accounts.
  2. Select New.
  3. From the Account Type dropdown, select Current assets.
  4. From the Detail Type dropdown, select Other current assets.
  5. (Optional) Enter a unique Name (system default will be Other current assets), Description, Default Tax Code, and Balance for the account.
  6. Select Save and Close.

Next, you'll need an additional account to track your cost of goods sold. The following article provides the steps to get that done, as well as what to do when you purchase inventory and when you sell it: Track inventory manually in QuickBooks Online

 

That will do it! With this info you'll be able to manually track your inventory. Please feel free to reach back out if you have any other questions.

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