We are an electrical contractor using QuickBooks Enterprise Desktop. We maintain an inventory of both generators and motors. I would like to track these items in Inventory by Serial Number, so that when on is sold we can select it from inventory based on the serial number of the motor or generator that was sold.
I have turned on the Advanced Inventory Tracking and entered a few purchases of motors. Motors can range very drastically in cost and sales price.
I then also created an invoice for the sale of one of the motors, which is where my problem is. It appears QuickBooks will expense the inventory item at the average cost or standard cost, but not by the cost of the item specifically associated with the serial number selected. It also will price the item at a standard price, instead of being able to apply a standard markup to the cost of the item associated with that specific serial number.
So for example, if you purchase 3 motors costing $500, $2500, and $6000, the average cost per unit of inventory is $3,000. If the item costing $500 is sold, QuickBooks will move $3,000 (ave cost) from Inventory to COGS instead of the actual cost of $500. It also will pull in a standard sales price from the item setup instead of being able to apply a standard markup. So if I wanted a 20% markup, the sale price of the $500 item should be $600, but it will just pull in a standard price.
Can this be setup to pull in and expense the actual cost of the piece of inventory based on the Serial Number, an then apply as standard markup to that cost for the sales price. I would like to use only 1 inventory item called motors and one called generators, and then have the induvial items and cost follow the serial number. I don't really want to have to continually setup items to track each type of motor or generator (could be hundreds of them).
Thanks
