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Ben2304
Level 1

Adding stock to a pre existing business

We  have been using the Quickbooks Online software for numerous years now but have never really fully utilized the product or explored its features as we mainly use it for invoicing, expenses and keeping track of payments.

 

We have recently decided that it would be beneficial to implement an inventory system through QB Onliine, is it possible to start this halfway through our financial year without it effecting our sales / expenses figure if we input pre excisting stock?

 

Thanks.

1 REPLY 1
Ashleigh1
QuickBooks Team

Adding stock to a pre existing business

Hello Ben2304, thanks for posting on the Community page, it wont affect it if you input the pre-existing stock items. It only does affect it if you record sales and purchase transactions for the stock items., because the stock items hot stock assest (balance sheet) and the sales related to the stock items will post to income and cost of sales (profit and loss). 

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