Chapter 14. Using Inventory Features

What You'll Do

Activate Inventory

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.