How to Adjust, Merge, and Import Inventory in QuickBooks Desktop or Online

The inventory system of every business does not matter whether it includes fewer items or large amounts of items required to be tracked. Read how to Adjust, Merge, and Import Inventory in QuickBooks.

If you use the QuickBooks accounting system to store all the inventory system details, it needs inventory counts and values adjustment. The inventory adjustment varies with the current market. The inventory calculations on a regular basis or any modification must be recorded in financial records. It is necessary to take care of a stock count and record adjustments.

Why is there a need for Inventory Adjustments?

When you track the inventory system and there displaying fewer or large items in QuickBooks, you can manually adjust the item’s quantity. There is no need to record a sale or purchase for matching the items in actual stock.

How to Adjust Inventory in QuickBooks Desktop?

Here is the list of steps you need to follow to Adjust Inventory:

  • Locate Lists or Vendors
  • Click on Items below Lists or Inventory appearing under the Vendor option.
  • Hit on Adjust Value on Hand/Quality listed in a drop-down displaying below either Vendors or Lists
  • Write the date that you have created along with the physical inventory count.
  • Choose an expense account through the active adjustment list; it is the preferred account you chose to track the inventory decline.
  • Determine suitable customer class & job listed in the list named drop-down
  • Enter the new physical count in the appearing column, which says “New Qty,” to write a new value in the column named Qty Difference. Once done, QuickBooks will perform calculations regarding the adjusted quantity for you.
  • You have to check and mark the field named Value Adjustment if you need to view the window’s expanded version. But it does not need to modify or adjust Inventory.
  • Write the new count in the column named New Qty if you use the expanded way for value adjustments. It permits you to outline the items as the value of the market decrease.
  • Now use the text box named Memo for writing a short note or description about the thing you have done.
  • Hit on the Save & Close button or Save & New option for recording the revisions.

How to Adjust Inventory in QuickBooks Online

If you want to adjust your business inventory in QuickBooks online then you would need to follow these steps:

  • Login to your QuickBooks accounts and navigate to your company profile.
  • Now file the Gear Icon on the top of the Navigation menu and the “products and services tab”.
  • Here you will be able to see the list of stocks that are there in your inventory. Double click the one that you want to adjust.
  • Now where you see “track quantity on hand”, click on the update tab.
  • Enter the updated quantity.
  • Now click Save when you have adjusted your inventory in QuickBooks online.

How to Merge Duplicate Inventory Items in QuickBooks Point of Sale

QuickBooks Point of Sale is one of the crucial software which allows its users to build up a strong system in terms of analysis, strategy, and efficiency. Inventory management is one of the core features of QuickBooks point of sale. Under inventory management, a user can connect its inventory to various stores or warehouses and also prepare analysis reports for each item in the inventory. It further classifies the inventory under various segments which depict the quality and quantity of the product and also prepares the item list which is mostly sold to the least sold items which are further sorted with the area analytics.

Inventory management in the point-of-sale system is loaded with significant features. However, there are times when there are certain issues that cannot be easily fixed. The inventory system is also prone to certain issues which are not recognized by the point of sale system and one such is the classification of the duplicate item in the inventory.

Merging the Duplicate Inventory items

In case of a duplicate item in your stock, you have to merge the items manually to get it settled. The process of merging the product is effortless and simple.

  • In the Lists select Items List.
  • Check for the items which are duplicates, then keep the item name you want to retain.
  • Double click on the product which has to be merged.
  • A pop-up visual will appear which lets you edit the item.
  • Fill in the item name or the item number which has to be merged.

Note: to avoid any errors you can copy and paste the noted details during the second step.

  • Select
  • A warning message will be displayed on the screen. Select Yes and your new settings will be saved.

How to Import Inventory into QuickBooks Desktop?

Having a list of products and services readily available to you for your customers is very important when you are a businessman. As soon as you start using QuickBooks, having all the data scattered in different file formats needs to be maintained uniformly in your new software system.

This page of instructions would give you some of the steps to follow to import inventory into QuickBooks.

Step 1: Import and Override

  • Shift to the Gear icon. Click it
  • Click Tools
  • Select Import Data
  • Choose Products and Services from the list
  • Click Browse on the page that appears
  • Select the required file
  • Click Open
  • Click Next
  • Map your data
  • Click Next again
  • Tick the checkbox Overwrite all values for each product or service that you import with the identical name. [Remember, this step is irreversible]
  • Click Import

Step 2: Manual update for inventory in QuickBooks

  • Move to the Gear icon
  • Under Lists, choose Products and Services
  • Search for the items to be updated
  • Under the Action section, click Edit to make the changes
  • Click Save and Close
  • You can repeat the same steps for other inventories on the list.

Step 3: Advanced Import of Excel Data to QB

  • Select the already existing Excel sheet or create a new one to be imported with desired fields
    Open QuickBooks
  • Select the company file from the screen you want to work on
  • Select the File from the programs menu
  • Click Utilities and then Select Import, after Choose Excel Files
  • On the dialog box that appears, choose to Add Your Excel Data to QuickBooks
  • Click Advanced Import
  • Click Browse and find the particular file to be imported
  • You can select files with excel or CSV extensions
  • Choose the particular file and click Open, or you can also directly double-click it to open
  • In case there are multiple sheets in a particular file.
  • Select the required file for import from the drop-down available with Choose a sheet in this Excel workbook
  • Deselect the option: This data file has header rows
  • Besides Choose a mapping, there is a drop-down, click Add New over there
  • Map the fields from the Mappings window
  • Access the Quicken inventory column drop-down by clicking on the header title of your spreadsheet
  • Choose the right Quicken header title if you find it incorrect
  • Click Save after the mapping is properly conducted
  • Click Preview and check the import summary
  • If you find any mistake in the data, click Cancel to re-map the fields
  • If it seems perfect, click OK
  • Click Import & Save.

That’s all about How to Adjust Inventory in QuickBooks! Hopefully, the above information becomes a helping hand for you to adjust the products’ total value or quantity in QuickBooks Desktop.

If you still have any confusion, you can connect with the QuickBooks Consultant number to clear all concerns about recording an adjustment. You can do a live chat to seek spot assistance or drop an email with questions.

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