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quickbook inventory

Posted on 2011-09-26
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Last Modified: 2012-06-27
I do import and sell products
each order its 10 or 20 products

each time products price are different

what is the best option ton quick books?
do i need to create inventory or just make a purchase order and make sales?

what is the difference?
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Question by:ammadeyy2020
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6 Comments
 
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Accepted Solution

by:
Experienced Member earned 1332 total points
ID: 36708775
Inventory is relatively complex to run because you must maintain physical quantities, value it, count it, adjust it and re-value it at year end.

If you can keep track of things with purchase orders and sales, it is much easier to manage.

You can do this:  Make a copy of your company file, open the copy, turn on Inventory (in preferences) and experiment with it. If you have never run an inventory accounting system, you should prepare very carefully and read up on it before trying to implement it.

.... Thinkpads_User
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LVL 97

Assisted Solution

by:Experienced Member
Experienced Member earned 1332 total points
ID: 36709308
Another way to evaluate this is as follows:

If you purchase to requirement only enough to sell and quickly all the goods are physically gone, then you do not need to be tracking inventory.

If you purchase supply with (at the time of purchase) no intended sale and you maintain stock, then you might consider using inventory. This is a decision that you will want to make very carefully. ... Thinkpads_User
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LVL 32

Assisted Solution

by:aleghart
aleghart earned 668 total points
ID: 36711300
I second that.  Unless you are physically stocking the goods somewhere, it's a lot of work.  Especially if you are manufacturing or kitting the goods and trying to track every penny.  Valuation means little if you don't track all of the supply variations, shrinkage, spoilage, personal use conversion, etc.

Make a PO from the customer & Invoice against it.  If the items are repeat (exactly the same description & SKU), then you can create items without tracking inventory.  If there are no SKUs, and you customize each line, then just make line-items on each PO/Invoice.
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LVL 19

Expert Comment

by:Richard Daneke
ID: 36711458
I would set the items to non-inventory items.  Your import can sell the items at prices that are also imported.  You will get sales reports and sales tax reports.   Use inventory items when, as mentioned, you have additional operational issues like stock levels, re-order points, and current inventory asset valuations.
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LVL 19

Expert Comment

by:Richard Daneke
ID: 36711476
Whatever choice, you enter what you are selling into the Item List (this is the only way to have something in the line item section of the invoice).
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LVL 97

Expert Comment

by:Experienced Member
ID: 36964089
Thank you. I was pleased to assist and good luck going forward. .... Thinkpads_User
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