What You'll Do
Set Up Inventory Items
Add to Your Inventory
Edit Inventory Items
Create an Inventory Group
Set Up Reminders to Replenish Your Inventory
Prepare Inventory Reports
Count Your Inventory
Adjust the Quantity of Inventory
Adjust the Price of Inventory
Merchandise that you own and expect to sell to others is called inventory. QuickBooks provides a full, interactive inventory feature that constantly tracks and updates your company's inventory totals. Each time you receive new items in stock, your inventory quantity increases and your inventory cost is recalculated to reflect the average cost of all items in stock. Each time you sell an item, your inventory decreases. The cost of an inventory item you sell is recorded in your QuickBooks records at the current average cost of the item.
A reorder feature reminds you when supplies are getting low and tells you when you need to order more. QuickBooks also provides a warning message if you try to sell more inventory items than you have in stock.