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QuickBooks ProAdvisor MBA PHR
QuickBooks ProAdvisor MBA PHR, Management Consultant, QuickBooks ProAdvisor, MBA, PHR
Category: Financial Software
Satisfied Customers: 76
Experience:  QuickBooks Pro, POS Point of Sale, Online & Enterprise Solutions
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My company manufactures products and invoices our clients weekly.

Resolved Question:

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?
Submitted: 11 months ago.
Category: Financial Software
Expert:  QuickBooks ProAdvisor MBA PHR replied 11 months ago.
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 11 months 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?

Expert:  QuickBooks ProAdvisor MBA PHR replied 11 months ago.
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
QuickBooks ProAdvisor MBA PHR, Management Consultant, QuickBooks ProAdvisor, MBA, PHR
Satisfied Customers: 76
Experience: QuickBooks Pro, POS Point of Sale, Online & Enterprise Solutions
QuickBooks ProAdvisor MBA PHR and 2 other Financial Software Specialists are ready to help you
Expert:  QuickBooks ProAdvisor MBA PHR replied 11 months ago.
Thank you for allowing me to assist you on JustAnswer! I hope I have provided you with 100% customer satisfaction by answering your post.

Thank you for taking the time to rate my service as Excellent or Good so that I may continue to provide services via JustAnswer. If you have not already done so, please take the time to complete your survey now.

Please contact me in the future if at any time I can be of further assistance in providing service to you. http://www.justanswer.com/finance/expert-FoxBizSolutions/

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

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