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Trudi0411
June 16, 2023
Question

Stock - buy in one product and sell out in parts

  • June 16, 2023
  • 2 replies
  • 0 views

Hi

We have just moved from desktop to online and are having some challengers with stock.

We buy in whole pigs (via PO) and sell out in bits of pig.

When we sell whole pigs out COGS calculates the purchase price as we have purchased the product but when we sell out parts e.g belly, leg, middle there is no COGS posting to purchase price as we have no PO in that stock item it is in the whole pigs. 

Is there any way to transfer qty and value between stock codes so I do have a purchase price when selling out.

Also how have people got around the fact price lists per customer have been removed? we are going to set up an invoice template per customer pre populated with set prices so you just have to enter quantity

Any ideas would be very helpful

Thanks Trudi

2 replies

A
Ashleigh1
June 16, 2023

Hello Trudi0411, thanks for posting on the Community page, so no there's not a way to transfer qty and value between stock items, you can do a qty adjustment to reduce the number of whole pigs. Are you calculating the individual cost price and entering this on the 'Purchasing information' section of the individual parts, or you are entering this amount as zero and only entering the cost price on whole pigs. 

 

We would advise you speak with an accountant more about this, they will be able to help and assist you further as we are just technical support here and not trained accounts. 

T
Trudi0411Author
June 16, 2023

Hi

We are raising a Purchase order for say 5000kg of pig into a whole pig stock item, we would then sell out 2500kg of whole pigs (which works fine) but we would also sell a further 2500kg of bits of a pig we have cut up e.g 100kg backs, 250kg legs, 500kg backs out of separate stock items so we can put in a sale price but this does not produce a COGS purchase price because we have not brought any stock into theses separate item codes.

 

When you do a stock quantity adj (w/off) does this post value to a chosen account (i.e I could w/off the remainder of the whole pigs in stock as these would be the pigs we cut up, then set up a cut pigs purchase account under COGS)

 

My other was about price lists linking to customers?

 

I'm happy with the accounting side as I am a fully qualified accountant I just don't know quickbooks online and how I can make it do the entries I require 

 

Thanks

 

Trudi 

G
GeorgiaC
June 16, 2023

Hi Trudi, thanks for this information. When entering a stock quantity adjustment you can specify which account you'd like to post this to from the Stock adjustment account drop-down. If you'd like to see more on how to enter these, please see our guide linked here. 

 

Price lists linked to customers aren't currently available in QuickBooks Online; we'd recommend submitting feedback to our Product Development team for this feature (select the Gear icon > Feedback). The invoice templates (found under the Gear icon > Custom form styles) are for the design of the form only and do not allow products and service information to be entered. If you have regular or repeating invoices for customers, we'd recommend creating a recurring transaction. Products and services can be selected on these, and the transactions can be scheduled or unscheduled meaning you can use them only as and when you need them. 

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