How to Receive Inventory
Wednesday, February 09th, 2011 | Author: jimern

There are many ways to receive inventory in QB.

1. Create a Purchase Order (PO), then use receive inventory with/without bill, select the PO, then use pay bills

2. Bring up enter credit card charges, select the vendor, if there is an open PO QB will ask if you want to use it, say yes, if there is no open PO enter your items

3. Bring up write checks, select the vendor, if there is an open PO QB will ask if you want to use it, say yes, if there is no open PO enter your items

Does it matter which way you do it? No

Does it matter how you do it? YES

If you are not using a PO click here to skip the PO part

This shows how to set up the PO if you are going to use it.  A PO is non-posting, it does not affect any accounts -ever – and is optional.  Most use it as a reminder of what was ordered, a few actually print it out and send it to the vendor.

I’m going to use receive inventory with bill, just because it is the most common way folks do it.

I get this screen -

Since Intuit QB programmers are not users, and not accountants and they do not respond to suggestions or bug reports, if there are two open PO’s for one vendor you have no way of knowing which one to pick.

So after I guessed correctly, the PO fills in the receive item document for me.

NOTE that this screen is the exact same screen that you get if you use write checks, or enter credit card charges, the title of the screen changes but the tabs and how you enter the inventory items are the same.

Notice that just above the items, are two tabs, an expense tab and an item tab. Inventory is always entered one item at a time on the item tab.

At this point you probably need to add shipping and maybe sales tax if you were charged for either one of those.

Once again there has been no response from Intuit about making this user friendly, so you have to guesstimate the amount of the charge that applies to each item.

Then click in the Amount (total)  block for each item, add the portion of the charge to the Amount (total) shown, and enter the new Amount (total). When you click out of the item Amount (total) block the cost per item will be updated.

Finally check to insure that the total cost in the top section where it says “Amount Due” is the same as the vendor actually charged you. Then click save & ? (your choice).

When you save the receipt, QB will add the item purchased to the inventory on hand and adjust if necessary the current average cost per item.

All that is left is to click pay bills, and select this bill.

Of course if you have used write checks or enter credit card charges (using the item tab) when you save you are done, the bill is paid.
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Hope this helped,. Take a look at the Targeted Tutorial list, specific solutions for specific problems, $5 or less each.

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