Adjusting Inventory when I import it

This will sound complicated but once you do it, its not

enter your bill and pay  it as you would normally

when you get the shipping charges

edit the paid bill

for each item increase the total amount charged

then switch to the expense part and select shipping expense , enter the amount as a negative number

the bill amount should now be the same as before, save it and click through any warnings that payments have been applied

QB will redo the item cost effective the date of the original bill

Thank you. But how does the inventory get adjusted? It seems that once you create the bill for x amount of items, then pay it, QBO wants to then add the inventory. But I don't actually have the inventory for 60 days from bill creation.

Thanks for coming back, danimdecker.

I appreciate you for performing the troubleshooting steps provided by my Rustler. In this case, you can keep it as a Purchase Order transaction. Once you received the inventory, just create the bill.

Here's how:

1. Click the New Plus icon. 
2. Select Bill.
3. From the Vendor dropdown, choose a vendor.
4. Select the bill's terms from the Terms dropdown. This is when your vendor expects to be paid.
5. Enter the Bill date, Due date, and Bill no. as they're recorded on the bill.
6. Enter the bill details in the Category details section. From the Category dropdown, select the expense account you use to track expense transactions. Then enter a description. You can also enter specific products and services in the Item details section to itemize the bill.
7. Enter the Amount and tax.
8. Press Save and close.

To learn more about this one, see the Enter bills and record bill payments in QuickBooks Online article. Feel free to visit our Expenses and vendors page for more insights about managing your expenses and vendor transactions.

I'm just one post away if you need a hand with running inventory reports or any QuickBooks Online related. I'll be here to ensure your success. Have a great day. 

I'm sorry. I'm still confused. Can you give me the steps from the beginning?

I create a purchase order for inventory products, but will only pay a deposit of it. Then later pay the balance, then pay the shipping. 30 days after the last payment the inventory will be in house. 

Can you give me the steps from beginning to end to create the order, payments, and inventory adjustment so that the COGS is correct, but the inventory is also updated once we receive it? Thanks.

Appreciate the complete details of your concern, danimdecker. 

I'd be delighted to share some steps on how to create the order, pay the bills, and the inventory adjustment in QuickBooks Online. 

The feature to create a sales order in QuickBooks Online (QBO) is still unavailable. However, you can create an estimate and then turn it into an invoice at a later time. 

You'll create an estimate which allows us to create an invoice at a later time. When the customer gets the invoice, this can act as the sales order.

Here's how to convert an estimate to an invoice:

1. Go to the Sales menu and select All Sales.
2. Find and open the estimate.
3. Select Create invoice.
4. Add more details to the invoice as necessary, then select Save and close.

Also, you can copy an estimate into a purchase order if you'll be sending it to a vendor. Check this article for more information: Copy an estimate to a purchase order.

If you plan to pay for the expense in the future, enter it as a bill. You can record bills one at a time or multiple bills for multiple vendors at once.  You can follow the steps provided by my colleague @RCV on how to enter bills and record bill payments in QuickBooks Online. 

You can check this article for detailed information about Estimate: Set up and use estimates.

Know that you can always get back to me if there's anything else that you need with QuickBooks. I'll be here for you. Have a good one!