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Buy now & saveI sell product to export markets. Once sold I will then buy the product. I will have additional cost for these orders. I would enter all my cost on an order as item receipts. Once bills would arrive I would reconcile these bills to the item receipts to insure they were accurate. I have not been able to find this option in QBO. Now I need to reconfirm each bill is accurate in a 3rd program. Looking for an efficient way to review and receive invoices.
QuickBooks Online handles inventory purchases differently than Desktop, Barry. Since there's no Item Receipt feature in QBO, you can create purchase orders to track your purchases and reconcile bills. I'll show you the process below.
To record the items you intend to purchase from a supplier, create a Purchase Order first. Here's how:
Since a Purchase Order is a non-posting transaction, it doesn't affect your financial records. Once you receive the items, you need to create a bill, which is then posted to your accounts, updating your inventory value. Here's how:
The status of the Purchase Order will then change to close showing that you've received the items or services ordered. See screenshot:
Another option is to upload the receipt and convert it to expense. See this article for more details: Upload your receipts.
Additionally, check this resource to learn how to compare your income and expenses for different periods in QuickBooks Online: Run a profit and loss comparison report in QuickBooks Online and Online Accountant.
Let me know if you have any additional queries about purchase orders or bills in QuickBooks Online by leaving a comment below. I'm here to help you.
@JeraldR The OP didn't ask about Purchase Orders. They asked about Items Receipts. Purchase Orders and Items Receipts are not the same thing. Which, of course, is why QuickBooks Desktop has both Purchase Orders and Items Receipts.
Did you even read the question? Or, did you read it and then just decide to copy/paste an irrelevant answer to get points? It's hard to tell!
Thank you for your message. Using PO's does not work for what I am doing in several cases with my orders. Are there item receipt options in QBO?
Hi there, barry45.
Currently, item receipts are not a feature available in QuickBooks Online (QBO) that is included in QuickBooks Desktop (QBDT). Please note that QBO and QBDT are two distinct products with unique features.
We understand that the option to create an item receipt could streamline your workflow. At Intuit, we are committed to providing an exceptional experience for all QuickBooks users worldwide. While the feature you’re looking for isn’t available at the moment, your feedback is important to us. I recommend sharing your request with our product engineers, as they value input from users like you to help improve the program’s features.
To submit feedback, follow these steps:
You might also consider looking for a third-party app that can help you record item receipts, as QuickBooks integrates with hundreds of third-party software developers.
While I’m unable to recommend a specific app, you can view a wide range of options by using specific keywords to narrow down your search. Checking customer reviews can help you determine which app best suits your business type and needs.
To look for an app, you can visit the Apps page within your QBO account.
Additionally, I've included these references to guide you on what you need to do after you move from QBDT to QBO and answer the most commonly asked questions about the said procedure:
Stay in touch if you need further assistance in managing your orders in QBO. I’ll get back to help and make sure you’re taken care of.
RE: Currently, item receipts are not a feature available in QuickBooks Online (QBO) that is included in QuickBooks Desktop (QBDT).
Oh! Then this is yet one more way that QuickBooks Desktop is better then QuickBooks Online!
RE: Please note that QBO and QBDT are two distinct products with unique features.
Yes, and it's so interesting that QuickBooks Desktop's features are almost always better than those in QuickBooks Online! Why is that, when Intuit has had 20 years to make QuickBooks Online on par with QuickBooks Desktop?
RE: We understand that the option to create an item receipt could streamline your workflow.
Of course, which is why QuickBooks Desktop has the feature - and has for about 15 years.
RE: At Intuit, we are committed to providing an exceptional experience for all QuickBooks users worldwide.
Well, the thing is, you need more than commitment. You have to actually implement the features that provide an exceptional experience. You've done that for QuickBooks Desktop. Why not for Online as well? Why does it continue to be so very terrible when you've had 25 years to make it not terrible?
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