Inventory

Suggest checking the opening balance date for the account as it auto-populates with the date you actually set up the account ini QB even if a zero balance. I make sure my opening balance dates, including 0 balanced accounts, are set with a date that's before the first transaction I record.

Hello MCR,

Taking on a new client is an exciting time, and I want to make sure you're able to set up their books in QuickBooks Online so that you can get to work with them. I've got some additional details for you on setting up inventory items and can direct you through some steps to get back on track.

When you're wanting to set up a new inventory item that started tracking in a prior month or year, it's important to select the correct As of date on the item setup. It sounds like that's what you may be doing already, and the program should give you the opportunity to select a prior year or manually enter it if you prefer. To use the calendar option, simply select the field for the As of date and then the year you'd like. Then, you should be able to use the arrows to navigate to the month you'd like and choose the date. Here's a screenshot for reference.

If you had already set up the inventory item without using the date you need and now you're trying to add it to an invoice dated for 2020, the program will have problems because it'll say it wasn't tracking inventory then. To correct this, you can consider using the adjustment options from the drop-down arrow in the Action column of the item list in Products and Services or make the item inactive and start again.

For your reference, here are some articles on inventory tracking in QuickBooks Online.

• Set up and track your inventory in QuickBooks Online

• Adjust inventory quantity on hand in QuickBooks Online

• Edit an inventory quantity adjustment

If something I've mentioned is already what you're trying to do and you're running into trouble, please don't hesitate to reach out to our support team outside of this forum for further assistance. With more details about exactly what you're doing, error messages you're running into, and that kind of thing, a member of our team can help you get back on track. Here's how to get in touch.

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