How to Set Up Inventory in QuickBooks

Inventory items are those that your business has in stock. In this, we are going to discuss how we can set up and track inventory in QuickBooks. let’s take an example, if you have a medical store, you can easily track your medicine with the help of a unique number or scanning barcode that has printed on medicine and you can easily find out all the information about any medicine. By this software, you can easily make a record of your tracked inventory like which type of inventory is left out by this app you can easily make a prediction for the future for the development of your business. You can also get help through our QuickBooks customer service if you are in a hurry and don’t want to do this by yourself.

Set up and track your Inventory in QuickBooks:

QuickBooks Online got everything whatever you need to manage your inventory. The track that what you have now, get a notification when its time refills your stock, and see insights what you buy and sell.

1. Turn on inventory tracking for set up 

  • Go to Settings, and select Account and Settings
  • Select Sales
  • Select Edit  in the Products and service section
  • Turn on Show Product/Service column on the sales forms
  • You can also turn on your price rules if you want to set up flexible pricing for the things you sell
  • Turn on both Track quantity and price/rate and track inventory quantity on hand
  • Select save and done

2. Add your inventory products 

  • Add your service you provide to your customer
  • Add non-inventory items. These are settings you buy or sell but don’t track as your inventory
  • Create a bundle for any collection of products or service that you sell together

3. Keep track of what you sell

  • Create an invoice, if you’ll get paid later.
  • Add a sales receipt, if your customer paid on the spot

4. Refill your inventory

QuickBooks reminds when you have to refill your stock, you can also order your inventory in QuickBooks. Then track what you receive from vendors and what is still on order. When you do, the Quantity on hand automatically increases by the number you items you receive

5. Use a report to check the status of your inventory

How to add Non-Inventory in QuickBooks by following these steps:

  1. select the Services & item and then click on the item button.
  2. Click on the new button after opening the new item window
  3. select the non-inventory part in the menu.
  4. enter all the non-Inventory items in the item detail box,
  5. select the account to link the item from the account menu.
  6. In last you have to fill all the required details which the system wants and after that
  7. Smash the Submit Button.

Inventory Tracking: 

All the Inventory records of the Online Business recorded by QuickBooks. The main objective of Inventory tracking is customers and service providers. If you have a small or large company, it is very important to keep track of your inventory. Because tracing the record of our inventory will make it easy for your accountant to prepare a Taxes. All the company does work on Customer satisfaction. And the fulfillment of needs of customers from time to time then the company becomes a reputed.  in the inventory, if you track your inventory then you can also find your business standings.

How to track Inventory parts:

  1. Click on the QuickBooks setup option and let it open.
  2. select the edit after that select preferences.
  3. Then click on Items and Inventory after that
  4. select the company preferences option.
  5. choose the inventory and purchase orders to enabled the inventory tracking and then
  6. smash ok button.  
  7. elect the items & service and click on the Item button.
  8. do select new and then
  9. select the Inventory Part from the drop-down list.
  10. Enter the inventory item name and fill all the detail. Click on the income account” drop-down list and select the account you want to use to track income from this inventory item.
  11.   If still unable to do so, call our QuickBooks Online support number to get help for your query.

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