QuickBooks inventory management is probably by far the most useful feature provided by Intuit. If you don’t already know how to “record and receive inventory within QuickBooks” then no worries at all.
With the help of the program, managing your books of accounts and recording inventory received is a child’s play. Check out the step-by-step process on how you can maintain and manage your goods in your accounting software.
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How to Add Inventory from within QuickBooks
There are basically two ways to record your entry within QuickBooks.
- Recording the entry after you have received the bill.
- The other way when your bills are delayed but you have received your goods.
No matter what method you use, you would need to make an entry to have a clean and manageable record all in one place. Recording and tracking inventory will not let you ever go short of the stuff and will help you run your business operating smoothly.
Add inventory when you have corresponding bills
- Click on the settings tab from the navigation bar. This is also sometimes called the gear icon.
- The moment you click on the tab, you would see a drop down button appearing.
- Choose the products and services tab.
- From the window that will now appear, click on the pencil icon. If you don’t find it already then check if you can see an edit option. Click on the relevant button.
- Scroll to find the section where it says “Current inventory at hand”.
- Here your current goods at hand will be displayed that you are already maintaining within QuickBooks.
- To receive more of the inventory, click on the update icon.
- Here a new dialogue box will appear wherein you will be able to edit your current goods at hand. Adjust the quantity and hit save.
- You will now have inventory that will match your QuickBooks records.
What if when bills are delayed
There is quite a possibility wherein you have got the goods at your warehouse but the bills still haven’t been received.
What you will do in such a scenario…?
Well, you will still need to record your entry. This way you will be able to document every single thing without giving anything amiss. Start with the following steps:
- With your QuickBooks logged in, you would need to create a vendor within the program. If you have one already created then select the same.
- Now you will be presented with a dialogue box where it will say Receive inventory.
- Click on the tab to choose Receive inventory items.
- Here choose to receive or add items without bills. This step is necessary otherwise all your entries will be recorded as regular items and billing entry will be simultaneously created.
- Now click on to create a receipt item.
- Attach the receipt to a vendor from whom you purchased the item.
- Click save and you will be all set.
For any further help, you can get in touch with us through our toll-free helpline number. Our QuickBooks Consultant experts will then take you on call and resolve your issue at the earliest.