Solved

quickbook inventory

Posted on 2011-09-26
6
382 Views
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?
0
Comment
Question by:ammadeyy2020
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
  • 3
  • 2
6 Comments
 
LVL 95

Accepted Solution

by:
John Hurst earned 333 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
0
 
LVL 95

Assisted Solution

by:John Hurst
John Hurst earned 333 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
0
 
LVL 32

Assisted Solution

by:aleghart
aleghart earned 167 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.
0
Independent Software Vendors: We Want Your Opinion

We value your feedback.

Take our survey and automatically be enter to win anyone of the following:
Yeti Cooler, Amazon eGift Card, and Movie eGift Card!

 
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.
0
 
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).
0
 
LVL 95

Expert Comment

by:John Hurst
ID: 36964089
Thank you. I was pleased to assist and good luck going forward. .... Thinkpads_User
0

Featured Post

Free Tool: SSL Checker

Scans your site and returns information about your SSL implementation and certificate. Helpful for debugging and validating your SSL configuration.

One of a set of tools we are providing to everyone as a way of saying thank you for being a part of the community.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

By Linda Saltz Customized item descriptions from bills DO import into a customer invoice!   This is a wonderful tip for companies that want to use generic items like Hardware, Software, Mileage, Travel in their item list which helps keep the i…
You may need to view past transactions from previous QuickBooks files or other QuickBooks company files when:       1. you are working in another QuickBooks file       2. QuickBooks is closed QuickBooks users who would benefit from this artic…
There are cases when e.g. an IT administrator wants to have full access and view into selected mailboxes on Exchange server, directly from his own email account in Outlook or Outlook Web Access. This proves useful when for example administrator want…
If you’ve ever visited a web page and noticed a cool font that you really liked the look of, but couldn’t figure out which font it was so that you could use it for your own work, then this video is for you! In this Micro Tutorial, you'll learn yo…

729 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question