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Ramm6
Level 2

How can I manage modified Inventory Part Items, in Quickbooks, without making an assembly?

Hello!


I have an Inventory Part Item (a metal connector) that I buy in one size, but sometimes I cut it to use it as a substitute for other Inventory Part Items of smaller size.


In Quickbooks, which would be the correct way to process this item in order to convert this connector into the connector(s) with the new sizes? How can I process this item (the output of the old item and the input of the new one(s)) without making an assembly?

 

Thank you very much in advance!

3 Comments 3
Tori B
QuickBooks Team

How can I manage modified Inventory Part Items, in Quickbooks, without making an assembly?

Hey there, @Ramm6

 

Thanks for taking the time to reach out to the Community for support. 

 

The best practice to use for this scenario would be our Assembly feature. However, since you don't want to use that feature, I do have another work around that you could use that other users have found beneficial. 

 

In this work around, you'll need to create separate items. For example, Large mental connector, Medium mental connector, Small mental connector, etc. Then, to account for the inventory used and not used, you can make an inventory adjustment. Let's say that you have a customer come in and they need a small mental connector, and you have one handy from the large one. You could make an inventory adjustment by -1 to the large mental connector, then an adjustment of +1 to the small. This way, when you create your invoice for the customer you won't have negative inventory and it still records the sell. 

 

I'd also like to suggest to add item descriptions to keep better track of where the mental connectors come from. 

 

I've included some help articles below that I think you would find beneficial for this process. 

 

Aside from this method, you can always check on third party programs that can make these adjustments for you. You can see all the compatible apps available here in our App Center

 

I also recommend running this method by your certified accountant. Your accountant will know the right accounts, etc. to use and if this will work correctly for your business. If you don't have an accountant, don't sweat. You can always find one here in our Resource Center

 

Please don't hesitate to let me know if you have any questions or concerns about this process. I'm always around to lend a hand. Take care and have a great weekend! 

Ramm6
Level 2

How can I manage modified Inventory Part Items, in Quickbooks, without making an assembly?

Thank you so much @Tori B !

 

I will read the articles you recommend.

 

I had thought about the solution you give us of doing an inventory adjustment but it seemed to me that this way I was introducing biases to the inventory value.

 

I comment a little more in detail so that you understand my doubt. For example, as I have 24' and 20' connectors, if I run out of the 20' connector, I can make the adjustment you suggest by using a 24' connector for a 20' connector. This way I would be selling the customer the 20' connector they need but with the cost of the 24' connector however, for the system, since I made a quantity adjustment, the cost of the 20' will not change, and it should. Am I correct?

 

Thanks again! Take care and have a good weekend as well!

Rubielyn_J
QuickBooks Team

How can I manage modified Inventory Part Items, in Quickbooks, without making an assembly?

I appreciate you for getting back to this thread, @Ramm6. Let me chime in and add additional info on how you can handle inventory items in QuickBooks.

 

Your product’s total value is its average cost multiplied by its quantity in stock. When you create a quantity adjustment, the amount of the 20' connector must change. 

 

That being said, it would be best to reach out to your accountant for advice before you adjust inventory value. They can help you more set up and make the adjustments to keep your inventory status in QuickBooks accurate.

 

Additionally, let me share these links to guide you manage your inventory in QuickBooks: 

 

 

Keep me posted if you have questions about making an inventory adjustments. I'm always around to assist you again. Stay safe and take care.

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