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QuickBooks ProAdvisor MBA PHR
QuickBooks ProAdvisor MBA PHR, Management Consultant, QuickBooks ProAdvisor, MBA, PHR
Category: Financial Software
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Experience:  QuickBooks Pro, POS Point of Sale, Online & Enterprise Solutions
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My company manufactures products and invoices our clients weekly.

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My company manufactures products and invoices our clients weekly. However, we do not ship the manufactured inventory immediately after invoicing. In fact, it can sit in our warehouse for over six months. Is there a way to track this inventory, in QuickBooks Enterprise, for our clients but keep it off our balance sheet?
Hi,

Anything tracked within your QB company file will feed to your balance sheet. That being said, what you can do is create new accounts within your Chart of Accounts to accurately identify these items upon manufacture & transfer to your customers. I would create a separate Inventory account for each client and upon transferring to your customers move the items from your inventory account to each individual customer account.

Please ask any additional followups needed for excellent customer service.

Thanks!
Anna
Customer: replied 3 years ago.


I thought about that. I guess when preparing a BS we could just exclude those inventory accounts. Does QB allow lot # XXXXX for inventory? How does it work?


 


How does QB track consigned inventory? Would this be an option?


 


Lastly, my company has purchased Misys to assist with inventory. Are you familar with this program?

Hi,

Lot tracking will not work for your needs. Will still be in your inventory & reporting is limited.

Consignment is for when you are reselling items for another &making a commission. These items also feed into your inventory.

Truly, creating the separate accounts will give you the most reporting flexibility & allow you to remove them from reports via Excel because they will be more visible & easily tracked.

Thanks again for using JustAnswer &taking the time to rate my service so that I may continue providing assistance JustAnswer.

Anna
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Anna M. Fox, PHR MBA
QuickBooks Certified ProAdvisor
Fox HR Solutions

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