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mroutledge1
Level 1

Can anyone tell me how to update inventory values quarterly?

 
3 Comments 3
Rebecca R
QuickBooks Team

Can anyone tell me how to update inventory values quarterly?

Hello there mroutledge1 and welcome to the Community!

 

I love that you're using QuickBooks Online to track the inventory for your business. When you're taking advantage of the full functionality that this feature has to offer, QuickBooks will do all the work to ensure that your inventory is up to date. Let me explain how.

 

Once you've Set up inventory tracking in QuickBooks Online and added your inventory items, the only other step you need to take to ensure that your inventory is up-to-date is to create Invoices and Sales Receipts to represent sales of those items, and Bills or Expenses to show what you've re-stocked. You'll want to make sure you enter these items and the exact quantity on each line item so that they'll be tracked accurately. 

 

If you want to check what you still have on hand, you can simply hover over the Quantity that you've entered on a sales transaction to see what's left. You can also set QuickBooks up so that you Get alerts for low or out of stock products so that you'll always have what your customers are buying on hand. Luckily, QuickBooks Online also comes equipped with reports that allow you to see your sales and view the status of your inventory. These reports will help you keep track of what's on hand, the cost of goods, and will even give you helpful insights.

 

It sounds like you might be looking for an automated way to update the quantity of your inventory items, which gives me the impression that you may not be using the full capabilities of the inventory tracking feature. That's ok - different things work for different businesses. However, there's not a way to do this automatically, so you'll have to manually adjust the quantities of your inventory items by setting a reminder for yourself outside of the product. I can see how this feature would be beneficial though, so share your thoughts with our product developers by navigating to the Gear icon, then select Feedback.

 

I'm confident that you'll have this sorted out in no time. Take care and have a great weekend! 

Dev land
Level 1

Can anyone tell me how to update inventory values quarterly?

I have entered the inventory products and QB is tracking the quantities I have on hand. As I buy more product to replace the goods that I have sold, How do I update my inventory to reflect the new purchase?

 

Tammy_H
QuickBooks Team

Can anyone tell me how to update inventory values quarterly?

Hi Dev land,

 

I can see this is your first post in the QuickBooks Community, so welcome. It's wonderful to see new members joining in the conversation. QuickBooks Online has a hearty inventory module that can be set up for reordering inventory when your quantity reaches the minimum quantity set. I want to help you get the most out of your inventory module.

 

Once you have your account Set up to track your inventory in QuickBooks Online, you simply input the items in your bills or expenses to replenish the stock. This article goes into detail on how to restock your items: Reorder inventory or supplies from suppliers

 

You can always reach back out if you have any questions. I'm here to help. Have an amazing day!

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