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Inventory

Hi. I lumped my inventory into one "inventory" asset, but need to break it down now. How do I delete that inventory and create a new list?  

3 Comments
QuickBooks Team

Re: Inventory

Thanks for taking the time to post here in the Community, @jenrensel

 

I'll help ensure you're able to remove the old inventory and create a new list. 

 

If the inventory list has subitems, you'll need to delete the subitems first. Then, you'll need to make sure the accounts are correct when creating a new list.

 

First, I'd suggest creating a backup of your company file to protect data loss since the deletion steps are irreversible. Then, you can delete an item by performing the steps below: 

 

  1. Go to the Lists menu at the top. 
  2. Select Item List
  3. Double-click the item you want to delete. 
  4. Click Delete Item

 

To create a new inventory list, you'll need to first set up all the individual items before you create a group item. Here's how to add an item: 
 

  1. Go to the Lists menu at the top.
  2. Select Item List
  3. On the Item drop-down at the bottom, select New
  4. Select the type of item you want to create.
  5. Fill in the item fields. Make sure to choose the correct account. 
  6. Save the item. 

 

For more details, you can check out this helpful article: Add, Edit, and Delete Items. This article also provides answers to your frequently asked questions about QuickBooks items. 

 

Please update me how it goes on your end, @jenrensel. Don't hesitate to click the Reply button if you have follow-up concerns about this, I'll be around to help. 

Established Community Backer ***

Re: Inventory


@jenrensel wrote:

Hi. I lumped my inventory into one "inventory" asset, but need to break it down now. How do I delete that inventory and create a new list?  


Let's do this the right way

 

create a dummy cash bank account and a dummy vendor

 

journal entry

debit the dummy bank, and credit the inventory asset account you used for the full amount

 

Now use a check on the dummy account, do not print this is data entry, and "buy" each item you have in stock from the dummy vendor. for each item be sure to use the qty actually on hand, and the total cost of that qty.

 

I suggest you create the inventory items first, creating them from the transaction will sometimes hang QB.

When you are done, the dummy bank must be zero balance, then you can make it inactive.

Established Community Backer ***

Re: Inventory


@RaymondJayO wrote:

 

 

If the inventory list has subitems, you'll need to delete the subitems first.

 

 

To create a new inventory list, you'll need to first set up all the individual items before you create a group item. Here's how to add an item: 
 

Sub-items?

group item?

 

It seems this is answering a different question