How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask QuickBooks ProAdvisor MBA PHR Your Ow...

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
74417861
Type Your Financial Software Question Here...
QuickBooks ProAdvisor MBA PHR is online now
A new question is answered every 9 seconds

hi Doug. we have quickbooks 13 and we wanna zero the inventory

Customer Question

hi Doug. we have quickbooks 13 and we wanna zero the inventory amount out and basically start over by doing a physical inventory and filling in the correct amount on the parts that I actually have. does that make sense?
Submitted: 1 year ago.
Category: Financial Software
Expert:  QuickBooks ProAdvisor MBA PHR replied 1 year ago.
Hi,

I am not Doug, but I can provide you with assistance. Your question says you are using QuickBooks 13, by that I assume you mean QuickBooks Pro 2013 financial software and not the Point of Sale for retail. I can help with either.

In QuickBooks Pro you can change your Inventory values by General Journal entries. Go to your Chart of Accounts, Right click on the Inventory Account you wish to edit. You will need to create an Expense account to track the value of Items removed (you can Name it something like "Inventory Adjustments").

When making the Jounal Entries: To Increase the value of your Inventory, place values in the Debit column for Inventory, to Decrease the value, place values in the Credit column for Inventory. Example: Current Inventory Furniture Balance 6000 but it should be 4000 you would Credit Inventory Furniture 2000 and Debit Inventory Adjustments 2000. Or to zero the balance you would Credit Inventory 6000, Debit Inventory Adjustments 6000

If when you run your reports you see that numbers are changing in the wrong direction, go back and reverse your Debits & Credit columns.

Thanks for allowing me to assist you on JustAnswer! If I can provide any additional assistance, please ask me. http://www.justanswer.com/finance/expert-foxbizsolutions/

I strive for total 100% Excellent customer service to you. Please let me know if there is any additional clarifications needed to your question so that you are totally satisfied. Thank you for taking the time to rate my service so that I may continue providing assistance via JustAnswer!
Customer: replied 1 year ago.


I think you misunderstood me. what I wanna do is zero out the quantity of all the items. I wanna keep the items saved and have them all show zero. I use QB for just inventory. so the actual prices aren't my concern as I change them as I go. I just wanna get to a screen where I can go down and change the quantity of the items to zero

Expert:  QuickBooks ProAdvisor MBA PHR replied 1 year ago.
I am sorry for any misunderstanding. Can you please clarify, are you using QuickBooks Pro financial software, or are you using QuickBooks Point of Sale software? Each can track inventory, but does so differently.

Thank you!
Expert:  QuickBooks ProAdvisor MBA PHR replied 1 year ago.
Here is the official Intuit help link for Adjusting Quantity. You will need to know what your current Inventory is to correctly enter the adjusting amount, and dont forget you will need to have an Expense Account created to offset the changes to. Generally, I would create an Expense account named "Inventory Adjustments" so that changes are clear when you come back to them later in the future.

http://support.quickbooks.intuit.com/support/pages/inproducthelp/Core/QB2K12/ContentPackage/Core/Inventory/task_inventory_adjust_quantity.html

I am not sure if the QB version you are using gives you the option, but you can also do a Physical Inventory, and from that "wizard" screen you can just go down the list and enter all zeros, but not all versions have this. Otherwise it is an item by item adjustment, but that is for your safety to not inadvertently make Inventory changes.


Thanks again for allowing me to assist you!
Expert:  QuickBooks ProAdvisor MBA PHR replied 1 year 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

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Robert M.

    Consultant

    Satisfied Customers:

    2759
    30 yrs. of computer experience in financial and marketing departments.
< Last | Next >
  • http://ww2.justanswer.com/uploads/flopcat98/2009-11-02_004348_rob_suit.JPG Robert M.'s Avatar

    Robert M.

    Consultant

    Satisfied Customers:

    2759
    30 yrs. of computer experience in financial and marketing departments.
  • http://ww2.justanswer.com/uploads/DF/dfmcpa7691/2011-1-9_14443_mainprofileimage.64x64.jpg Doug Millington's Avatar

    Doug Millington

    Certified Public Accountant (CPA)

    Satisfied Customers:

    268
    Bachelor of Science Cornell University 1979 - CPA since 1981 - Certified QuickBooks ProAdvisor - 30+ years experience.
  • http://ww2.justanswer.com/uploads/BB/bbl242003/2010-12-15_24730_mr.BruceBecker.jpg bbl242003's Avatar

    bbl242003

    Accountant

    Satisfied Customers:

    182
    MBA
  • http://ww2.justanswer.com/uploads/AN/AnswerCPA/2011-9-25_161544_Photoprofessionalportraitseptia.64x64.jpg AnswerCPA's Avatar

    AnswerCPA

    Advisor

    Satisfied Customers:

    175
    QuickBooks Pro Advisor
  • http://ww2.justanswer.com/uploads/Leanne0424/2010-09-06_222047_Just_Answer.jpg Leanne Stewart's Avatar

    Leanne Stewart

    Quickbooks Pro Certified

    Satisfied Customers:

    153
    QuickBooks certified, in my own business for 7+ years.
  • http://ww2.justanswer.com/uploads/Welltor/2010-04-30_122105_welltor.jpg David Bennett's Avatar

    David Bennett

    Certified QuickBooks ProAdvisor

    Satisfied Customers:

    91
    16+ yrs exper. QuickBooks Specialist, contract accounting technician, consultant & trainer!
  • http://ww2.justanswer.com/uploads/CU/Cuttinggirl/2011-10-29_03719_wcrop2.64x64.jpg Wendy Reed's Avatar

    Wendy Reed

    Enrolled Agent

    Satisfied Customers:

    61
    10+ years of experience with TurboTax, TaxCut & HR Block at home
 
 
 
Chat Now With A Tech Support Rep
QuickBooks ProAdvisor MBA PHR
QuickBooks ProAdvisor MBA PHR
76 Satisfied Customers
QuickBooks Pro, POS Point of Sale, Online & Enterprise Solutions