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JazLaz
May 17, 2022
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Inventory for a winery - How to create a new Item that carries the cost of another item?

  • May 17, 2022
  • 1 reply
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We are a winery using the Premier Manufacturing and Wholesale edition of QuickBooks.  I have a situation where one batch of unbottled wine was partially bottled and the remainder will be aged further for blending.  I inventory wine using bottle as the unit of measure, estimating the number of bottles we expect to get and then correcting the inventory when the item is bottled.

In this situation, I want to create a new item that will represent the wine aged for blending, as there will be additional costs incurred on this item.  However, to start, I would like the new item to have the cost of original batch of wine prior to bottling.  How can I create a new item, but load in the cost from the prior batch it is derived from?  I tried subitems, but that does not work, as it starts with zero average cost.  Thank you!

Best answer by Rustler

This is a lot easier to do than to write up

Stock the full amount of bottles you would have got

Create the new inventory item

do an inventory adjustment, set the adjustment type to qty & value, set the adjustment account to COGS-shrinkage.
lower the qty of the first item
at the bottom right of the adjustment screen is the total value of the qty you lowered, note this down
find the new item
set the new total value to the same as what you noted before
set the new total qty to the number you used when you lowered the original item
insure the total value of the adjustment is zero, bottom right of the screen
save

As always back up the file first, just incase.

1 reply

Rustler
RustlerAnswer
May 17, 2022

This is a lot easier to do than to write up

Stock the full amount of bottles you would have got

Create the new inventory item

do an inventory adjustment, set the adjustment type to qty & value, set the adjustment account to COGS-shrinkage.
lower the qty of the first item
at the bottom right of the adjustment screen is the total value of the qty you lowered, note this down
find the new item
set the new total value to the same as what you noted before
set the new total qty to the number you used when you lowered the original item
insure the total value of the adjustment is zero, bottom right of the screen
save

As always back up the file first, just incase.

    J
    JazLazAuthor
    May 18, 2022

    Thank you, Rustler!  It worked perfectly.  I use that Inventory screen to adjust quantities and totally forgot about the ability to move value.  Appreciate the assistance.

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