Hello, my QuickBooks Desktop Friends using the inventory feature to track quantities and value your merchandise!! Adjusting inventory is what is needed if the quantity of the items changes for any reason besides a normal merchandise transaction. In other words, if it changes without buying, selling or returning, then you need to make an inventory quantity adjustment. You need to pic an adjustment account that records the amount for each reason the inventory quantity changed. I hope you will click “like” and subscribe. -Mark
Hey I'm glad it helped then thanks for being a loyal fan and if you need anything else regarding quick books just ask I hope you will click like after watching each one and subscribe Mark
Thank you for asking; Use this video and do exactly what this inventory adjustemnt vidoe tells and shows. However, the "ADJUSTMENT ACCOUNT" is "owner's withdrawls", an "equity" type of account. Here is the equity playlist to explain better...... ruclips.net/video/70at-NCYzjE/видео.html -Mark
Hello. I want to know if you have quickbooks online version videos on 1.Inventory Management 2. Construction Business 3. Ecommerce business I will be thankful if you share link regarding mentioned topics
Yes I have all 3. 1) Here is the "QuickBooks Online For Contractor's" Playlist. You must watch all in proper order, to understand everything. Be patient if you already know some things. You do not need to know any prior knowledge for this playlist and you will have everything when finished. ruclips.net/video/tMlU65vPmuw/видео.html For inventory, this playlist also must be watched in proper order but you should know a little quickbooks first, so maybe watch the contractors videos before these......... ruclips.net/video/qKwCCAEGjSg/видео.html Now thirdly, for e-commerce, I only have a playlist for amazon online merchants. Most e-commerce platforms are similar so it may help you................ ruclips.net/video/ftr2dZWSAw0/видео.html I hope you will click "like" after each one to support the free help for everyone and subscribe. -Mark
Hi, thanks for the videos. They have given me some important help. I note that you create expense accounts for your inventory adjustments. I have seen many people create COGS accounts as well. I am still struggling to understand the effect of each choice and which is better. Can you give me some clarity?
When you were just inventory there are always 2 accounts that change The inventory account itself and another account The other account is called "the adjustment account " The adjustment account you choose depends on the reason for the adjustment If you're adjusting because of theft then you would create an expensive account to ride off the theft If you were adjusting me cause somebody donated inventory for free then you would create a "other income account" So just put an account and an account type that represents the reason for the adjustment
No You must use the adjustment window entering a bill will make Avengers balance but there is No Vendor balance because you are just Adjusting inventory.
Thank you Ahmed, Only QBO advanced has an extra field of data for "location" of inventory. For desktop, the enterprize solutions version has a data field in each inventory item to indicate location. -Mark
That's not rational because there's no reason to do that. You must record your inventory asset for the amount that you paid and increasing the amount that you would sell it for does not change the value of what you already paid for. So there's no situation where we would do what you're asking Mark
@@worldwidequickbooks Hi, thanks for the reply. Earlier we purchased some parts in less value and recently we purchased same parts with 5% increased price. Now, we are having same parts stocks with different prices. So, our Management is asking me to revise all parts with 5% higher side.
This is exactly the video that you need. Just make the "adjustment account" some kind of income account like" gain on donated inventory" But the message shown in exactly this video is exactly what you would do. Please confirm your own track Mark
Respected sir . We purchase used bottles as Raw materials. And make them pet flakes. As a finished product. We buy raw materials in kg And sell in kg Every time we buy at a different price depends on the market situation. (Same RM) And when we sell finished products with different rates to different parties. So I want to track my finished product availability for sale. For more manufacturing. Means I want to track how much finished product we sell or how much is still available for sale. (In kg) No need to track raw materials WIP etc. But whenever we purchase raw materials we must hit the vendor supplier account as an account payable. And When we sell the finished product we have to hit the customer account receivable . Please need your help for the sake of God. Using QuickBooks enterprise
Thank you for asking I can't and answer anybody's specific detailed unique situation without a formal session. Normally I would send you a link to the video that addresses your issue but unfortunately I did not yet make videos for the assembly feature in quick books enterprise. I could show you what To Do during a live session if your interested. Please send me an email to worldwidequickbooks@gmail.com and We will continue From there Mark.
Hello, my QuickBooks Desktop Friends using the inventory feature to track quantities and value your merchandise!!
Adjusting inventory is what is needed if the quantity of the items changes for any reason besides a normal merchandise transaction. In other words, if it changes without buying, selling or returning, then you need to make an inventory quantity adjustment. You need to pic an adjustment account that records the amount for each reason the inventory quantity changed.
I hope you will click “like” and subscribe.
-Mark
many thanks, sir you uploaded this video 7 years ago and I watched and advantages today after that long years again thank you.
Hey I'm glad it helped then thanks for being a loyal fan and if you need anything else regarding quick books just ask
I hope you will click like after watching each one and subscribe
Mark
How would you recommend registering withdrawal or use of merchandise (assembled product) by the partner for personal use? And the IVA?
Thank you for asking;
Use this video and do exactly what this inventory adjustemnt vidoe tells and shows. However, the "ADJUSTMENT ACCOUNT" is "owner's withdrawls", an "equity" type of account.
Here is the equity playlist to explain better......
ruclips.net/video/70at-NCYzjE/видео.html
-Mark
Can you assign classes in inventory adjust screen for allocation purposes?
Thank you
Give it a try
Hello. I want to know if you have quickbooks online version videos on
1.Inventory Management
2. Construction Business
3. Ecommerce business
I will be thankful if you share link regarding mentioned topics
Yes I have all 3.
1) Here is the "QuickBooks Online For Contractor's" Playlist. You must watch all in proper order, to understand everything. Be patient if you already know some things. You do not need to know any prior knowledge for this playlist and you will have everything when finished.
ruclips.net/video/tMlU65vPmuw/видео.html
For inventory, this playlist also must be watched in proper order but you should know a little quickbooks first, so maybe watch the contractors videos before these.........
ruclips.net/video/qKwCCAEGjSg/видео.html
Now thirdly, for e-commerce, I only have a playlist for amazon online merchants. Most e-commerce platforms are similar so it may help you................
ruclips.net/video/ftr2dZWSAw0/видео.html
I hope you will click "like" after each one to support the free help for everyone and subscribe.
-Mark
Hi, thanks for the videos. They have given me some important help.
I note that you create expense accounts for your inventory adjustments. I have seen many people create COGS accounts as well. I am still struggling to understand the effect of each choice and which is better. Can you give me some clarity?
When you were just inventory there are always 2 accounts that change
The inventory account itself and another account
The other account is called "the adjustment account "
The adjustment account you choose depends on the reason for the adjustment
If you're adjusting because of theft then you would create an expensive account to ride off the theft
If you were adjusting me cause somebody donated inventory for free then you would create a "other income account"
So just put an account and an account type that represents the reason for the adjustment
Thank you sir. This tutorial was helpful. Thank you sir.
I'm very glad it was helpful.
I hope you will click like after watching each one and subscribe
Mark
hi sir
These step we can make it in bill
vendors --> enter bill
'on item side apple and expense side loss on theft'
like this?
No
You must use the adjustment window entering a bill will make Avengers balance but there is No Vendor balance because you are just Adjusting inventory.
Good video. I like it so much. Thanks
Thank you I'm glad it helped that I hope you will click like after watching each one and subscribe
Mark
how can i transfer stock between stores
Thank you Ahmed,
Only QBO advanced has an extra field of data for "location" of inventory. For desktop, the enterprize solutions version has a data field in each inventory item to indicate location.
-Mark
Hi, how to increase prices in % for available inventory in Quickbooks?
That's not rational because there's no reason to do that. You must record your inventory asset for the amount that you paid and increasing the amount that you would sell it for does not change the value of what you already paid for.
So there's no situation where we would do what you're asking
Mark
@@worldwidequickbooks Hi, thanks for the reply. Earlier we purchased some parts in less value and recently we purchased same parts with 5% increased price. Now, we are having same parts stocks with different prices. So, our Management is asking me to revise all parts with 5% higher side.
How to record FREE inventory I received in my online selling account? The host doesn't want it back and I could sell it as my inventory.
This is exactly the video that you need. Just make the "adjustment account" some kind of income account like" gain on donated inventory"
But the message shown in exactly this video is exactly what you would do. Please confirm your own track
Mark
Respected sir .
We purchase used bottles as Raw materials. And make them pet flakes. As a finished product.
We buy raw materials in kg
And sell in kg
Every time we buy at a different price depends on the market situation. (Same RM)
And when we sell finished products with different rates to different parties.
So
I want to track my finished product availability for sale. For more manufacturing.
Means I want to track how much finished product we sell or how much is still available for sale. (In kg)
No need to track raw materials WIP etc.
But whenever we purchase raw materials we must hit the vendor supplier account as an account payable.
And
When we sell the finished product we have to hit the customer account receivable .
Please need your help for the sake of God.
Using
QuickBooks enterprise
Thank you for asking
I can't and answer anybody's specific detailed unique situation without a formal session.
Normally I would send you a link to the video that addresses your issue but unfortunately I did not yet make videos for the assembly feature in quick books enterprise. I could show you what To Do during a live session if your interested.
Please send me an email to worldwidequickbooks@gmail.com and We will continue From there
Mark.
- stock use for my job . how to apply (billable in my stock item)
No idea what you are talking about.