HOW TO RECEIVE INVENTORY IN QBO?

Hello there, @info450.

I can help you receive inventory in QuickBooks Online (QBO). 

If you receive inventory from the purchase order (PO), we can convert the PO to a bill each time you receive the item. This way, the quantity of the item will be added to the inventory (Products and Services) list. Here's how:

1. Go to the +New button.
2. Under Vendor, choose Bill.
3. Click the Vendor drop-down arrow and then choose the vendor's name.
4. All existing PO's will display on the left side. Select the correct PO and click Add. 
5. Click on Save and close once done.

However, we can adjust the quantity and not record a purchase if you received the item without the bill. So, we can match what you have in stock. I'll guide you how:

1. Go to the +New button.
2. From the Other column, select Inventory qty adjustment.
3. Enter the adjustment date and select all the items to adjust. 
4. Click Save and close.

Once the inventory adjustment is saved, QuickBooks automatically record appropriate adjustments to your inventory accounts.

For reference, you can also look into these articles on how to manage inventory:

• Set up and track your inventory in QuickBooks Online
• Adjust inventory quantity on hand in QuickBooks Online

Feel free to drop a comment below if you have other questions. I'll be right here to help you out. Have a great day!

We use purchase orders in QBO to buy a number of items that we resell.  Our current process is to wait to receive the inventory when we receive the bill/invoice from our supplier but this doesn't reflect our real time needs.  In many cases we create a purchase order, pick up the material from a vendor, and deliver to our customers on the same day.  But it often takes 7-10 days before our vendor emails an invoice to us and before process that purchase order into a bill connected with the invoice.  During those 7-10 days our inventory levels don't reflect an accurate count of on hand inventory and they also show items on order that have already been received. 

I would like a two step process where we can receive the inventory into QBO against the outstanding PO when we take physical possession of the material, but then wait for the invoice to arrive to create the bill, (that way we can including our supplier's invoice number and expected payment date on the bill.)  Is this possible?  From what I can see below the only option is to adjust the inventory level outside of the PO process and from other readings it looks like the inventory receipt process in general has only two options, either to receive with a bill or without.  I guess I'm looking for a hybrid option.  

Thank you for your input.

I am a newbie to inventory.  We are a small, all volunteer organization and I think we likely followed a non-recommended process. I need to figure out how to properly record this transaction in QBO.

A volunteer placed an order for an item we are going to resell using her personal cc.  I want to get the item into stock so it is included in the organizations assets and we can keep track of quantity on hand.

• I added the item to inventory and with a starting quantity and cost.
• I need to reimburse the volunteer (who is not a vendor).  I thought to write Check. to reimburse them  What account (category) would I use for the line on the check?

Is there a better way?

Hi ! Quick question, so we are an aerospace assembly company and im buying rivets from another company. 

I made a P.O to purchase these rivets. Then the rivets have come in and I dont know how to receive them so it shows they were received on the P.O and closes it. Also when I go to "send" my P.O what is labeled as "activity" is blank, so I can't see the description or item im requesting in the P.O

My question in regards to receiving inventory hasn't been answered. We create a PO for most orders. When the item physically comes in it arrives at a remote facility where the packages is opened, the ite(s) counted and the serial number logged. However, our warehouse facility does not receive the invoice, that is sent to the location where the accounting happens. 

1. If the person receiving the item were to go to the PO, there is no option there to show that the item was received other than to "create bill". The result is a bill is created in the accounting system but no actual bill has been received (entered) into the accounting system.

2. This creates a problem since an invoice (bill) will eventually be received from the vendor but the accounting system will already have a bill entered opening up the possibility that a second bill will be entered.

3. There should be a step (receiving report) in between that will sow the item being entered as received but not showing a bill to be paid. 

How can this be done. Every company I have ever worked for has this step in inventory management. It allows for an audit trail showing who received the item, a serial number, if applicable can be added and tracked at a later date if necessary and removes the confusion regarding bills and whetere there is an actual bill form the vendor or a fake bill entered to satisfy the need to show if the item was received or not prior to payment of the bill.

This seems like a very simple and essential step in the accounting process. Anyone have a suggestion here?