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Super Contributor *

Inventory bin

Hi all,

 

We are starting new in quickbooks. We have our inventory parts in the system, but we do not have the quantities in yet. I wanted to do a physical inventory first and then input the data from there. We have different areas of our shop, so I have bin locations defined. In our old software we used the bin locations to sort the inventory sheets so our guys were doing the inventory for their area. How can I put a default bin location for each item to easily sort for our inventory worksheets.

 

Thanks,

1 Comment
Established Community Backer ***

Re: Inventory bin

In premier and pro, you can create a custom field titled Bin for the inventory item, then enter that data in the field.  Enterprise with the advanced inventory add on has site/bin locations as an option

How ever you can not print inventory status sheets by bin

Bin can be added to sales forms in customize date layout>columns

If you have inventory items created, be careful how you input qty per item, QB requires cost at the same time.  see this for an explanation of cost and average cost and how it can affect item valuation.
http://onsale-apparel.com/Rustler/warning-inventory-bug

IMO the best way to enter starting qty with cost, is to first create a cash type bank account
then "buy" each item qty/total cost and use that cash account to pay for it.
then you make a deposit in the cash account equal the total spend on inventory and use equity as the source account for the deposit - that zeros out the cash bank for those transactions.

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