How to set up and Track Inventory in QuickBooks?
QuickBooks is the first choice for all the Accounting and Management needs for any Business be it a small startup or the largest Multi-National Corporation out there. One can use QuickBooks and its tools without any prior knowledge of the software because its User Interface is kept really simple and User-friendly. You can easily track sales revenue, Invoices, Reports, Inventory, and Payroll etc. by using QuickBooks. Tracking of inventory is a vital part for any business if it wants to bloom into the targeted industry. You can find out about any pending or delayed orders, due payments, and upcoming orders. You can also find out the vital records of an item like the profit margin and demand for the product. Based on which you strategize your steps in the future and modify your catalog. That is why Inventory is such a useful tool for Businesses because Inventory not only provides highly useful information but it also affects Income Statement and Balance Sheet. You can get in touch with QuickBooks ProAdvisors if you have any questions about Inventory management.
How To Track QuickBooks Inventory?
You can easily track your inventory by following the given steps:
- Open your QuickBooks.
- Click on the gear icon and go to Account Settings.
- Click on the Sales tab which will be on the left side of the menu.
- Click on the Pencil icon and click on Ok which will be next to “Track Inventory Quantity on Hand”.
- Select done to save the changes we just made.
- Select the Product and Services by going into the lists column.
- Click on the “New” button to create a new inventory item.
- Now, you have to select the item type.
- Go into Options Type and select the type.
- Now, enter the information such as date, names, cost, SKU, category, and stock.
- Review all the details and if you are satisfied, click on done.
Advantages of Intuit QuickBooks Tracking Inventory
- You can make highly detailed Reports using the QuickBooks Inventory.
- QuickBooks is more than capable of easily tracking the cost of goods sold and purchased.
Get Support QuickBooks Inventory Management
QuickBooks ProAdvisors are available 24×7 for answering all your queries related to QuickBooks. If you are facing any issue with the management of Inventory or Tracking, simply dial the toll-free QuickBooks Tech Support Number at +1888-557-6950 to contact the QuickBooks Experts. Intuit is also providing various guides and tutorial videos using which you can easily learn how to manage Inventories, Reports, Sheets, and Sales. If at some point you face an error, you can search the error code on our website to find the guide to resolve the error or you can use the live chat option on our website to discuss the error with our Technical Team.