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DKW Brian
Level 1

Advanced Inventory Question

I’m about to turn advanced inventory on to set up all the locations and begin the process of converting to inventory. 

 

We invoice out of Smart Service, not Quickbooks.

 

Most of my inventory is categorized as non inventory right now, will It automatically turn all those into regular inventory?

 

Can I continue to go negative as we invoice until I do a physical inventory?

Solved
Best answer November 20, 2023

Best Answers
GenmarieM
QuickBooks Team

Advanced Inventory Question

Hello there, Brian. I can provide some information on converting your non-inventory to regular inventory items in QuickBooks Desktop.

 

When turning on advanced inventory in QuickBooks Desktop (QBDT), it will not automatically convert non-inventory items to regular inventory items. To do this, you must first hide or make the non-inventory item inactive and then recreate it as a regular inventory item to make it work.

 

Here's how to hide or make the item inactive:

 

  1. Go to Lists and select Item List.
  2. Double-click the item you want to hide.
  3. Select Item is inactive and click OK.

 

Also, here's how to create an item:

 

  1. Go to Lists, then select Item List.
  2. Choose Item, then New, and click New Item.
  3. Select Inventory Part for the item type.
  4. Fill out the item fields.
  5. Once done, click Save.

 

Yes, it is possible to continue invoicing in negative until a physical inventory is finished. However, keeping track of inventory levels and performing a physical inventory regularly is essential to ensure accurate inventory counts. Therefore, I recommend coordinating with your accountant to ensure compliance and determine if this approach will suit your business structure.

 

Furthermore, it's important to note that if you're invoicing out of Smart Service instead of QuickBooks, you need to be cautious when recording inventory adjustments and sales. Ensure that any inventory reductions from Smart Service invoices are accurately recorded in QuickBooks to maintain balance synchronization between the two systems.

 

You might also want to check these articles to learn how to use inventory assembly:

 

 

Don't hesitate to leave a comment below if you need further assistance with inventory in QuickBooks Desktop. I'll be here to help.

View solution in original post

1 Comment 1
GenmarieM
QuickBooks Team

Advanced Inventory Question

Hello there, Brian. I can provide some information on converting your non-inventory to regular inventory items in QuickBooks Desktop.

 

When turning on advanced inventory in QuickBooks Desktop (QBDT), it will not automatically convert non-inventory items to regular inventory items. To do this, you must first hide or make the non-inventory item inactive and then recreate it as a regular inventory item to make it work.

 

Here's how to hide or make the item inactive:

 

  1. Go to Lists and select Item List.
  2. Double-click the item you want to hide.
  3. Select Item is inactive and click OK.

 

Also, here's how to create an item:

 

  1. Go to Lists, then select Item List.
  2. Choose Item, then New, and click New Item.
  3. Select Inventory Part for the item type.
  4. Fill out the item fields.
  5. Once done, click Save.

 

Yes, it is possible to continue invoicing in negative until a physical inventory is finished. However, keeping track of inventory levels and performing a physical inventory regularly is essential to ensure accurate inventory counts. Therefore, I recommend coordinating with your accountant to ensure compliance and determine if this approach will suit your business structure.

 

Furthermore, it's important to note that if you're invoicing out of Smart Service instead of QuickBooks, you need to be cautious when recording inventory adjustments and sales. Ensure that any inventory reductions from Smart Service invoices are accurately recorded in QuickBooks to maintain balance synchronization between the two systems.

 

You might also want to check these articles to learn how to use inventory assembly:

 

 

Don't hesitate to leave a comment below if you need further assistance with inventory in QuickBooks Desktop. I'll be here to help.

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