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William-01
William-01
November 16, 2019
Question

Track Inventory Quantity on Hand - Only!

  • November 16, 2019
  • 1 reply
  • 19 views
Is it possible to Track Inventory Quantity on Hand only in QBO? If so, what are the steps to set this up? Is there a link to example?

1 reply

R
RaymondJayOQuickBooks Team
QuickBooks Team
November 16, 2019

It's great to see you today, @William-01. 

 

Currently, there isn't a way to only track inventory quantity on hand in the program. Turning on this option in the settings will automatically enable these following features: 

  •     Track quantity and price/rate
  •     Show Items table on expense and purchase forms

 

The screenshot below serves as your visual guide. 

 

If you haven't set up inventory tracking yet, I can provide you the steps and links on how to perform this action. Please take note that this is available in the Plus and Advanced versions. Let me guide you how. 

  1. Go to the Settings (Gear) icon at the upper right.
  2. Select Account and Settings.
  3. Choose Sales.
  4. Select the Products and services section.
  5. Turn on Show Product/Service column on sales forms. 
  6. Check the Track inventory quantity on hand box. Click OK to confirm. 
  7. Click Save.
  8. Choose Done.

 

For more information, go through this article: Set Up and Track Your Inventory. This link also provides you the steps on how to add your products, track them what you sell, restock them, and run inventory reports. 

 

In case you'll discover that you have either more or fewer of an item than the program displays, you can adjust its quantity on hand. This ensures you match it what you actually have in stock. For detailed steps, check out this article: Adjust Inventory Quantity On Hand. 

 

I'm just a comment away if you need further assistance. Have a nice day, @William-01. 

William-01
William-01Author
November 17, 2019

Thank you for the reply @RaymondJayO 

 

I understand what you are saying, but your response created some more questions for me.

 

Knowing that setting up inventory will also automatically track price/rate and show items on expense and purchase forms, what if I don't enter in unit pricing or use purchase orders?

 

For example, I simple make adjustments to inventory on hand? Meaning, I can run a report to see fluctuations in invent QTY based on adjustments?  Isn't that possible to do without effecting my income and COGS account @RaymondJayO?

 

    Kristine Mae
    Kristine MaeModerator
    Moderator
    November 17, 2019

    I'll take it from here, William-01. Let me address your inventory questions.

     

    Let's start with the first one. You can create an item without the cost. Although, when you use purchase orders, it will not affect the quantity on hand since it's a non-posting transaction.

     

    Regarding the inventory adjustments, it will affect the stock Asset and Cost of Goods Sold (under stock Shrinkage) accounts.

     

    I'll provide the article about adjusting the quantity on hand to better guide you.

     

    Get back to this thread if more questions arise. We'd be happy to fill you in. 

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