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Anonymous
Not applicable

How do I enter goods received not yet invoiced in Quickbooks Online?

It is my understanding that Quickbooks Desktop allows you to record item receipt despite invoice not yet being received (DR Inventory / CR Item receipt liability account or goods received not invoiced), and then once you receive the invoice you create a bill therefore reclassify the accrual to AP (or at least that should be the entry flow). 

 

We issue blanket POs, with various receipt dates. Invoiced received consist of shipments which may have occured over one or two months. Since inventory should be updated based on shipment date or receipt date (or at least in the correct month), how do I do this in Quickbooks online? 

2 Comments
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Level 10

How do I enter goods received not yet invoiced in Quickbooks Online?

The vendor's invoice date, or when it is received, does not determine when to raise the transaction in your books.  It's the receipt of the goods.  So you would create a Bill transaction which increases inventory and liabilities (AP), dated when you receive the goods. The receipt date of the vendor's invoice is not an accounting event.   For imports, the determining date is usually shipment from the foreign port

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QuickBooks Team

How do I enter goods received not yet invoiced in Quickbooks Online?

Hey there, @Anonymous.

 

Welcome to the Community space and thank you for the details you've added. I can help you enter goods received, but not yet invoiced, in QuickBooks Online.


Creating an item receipt like in QuickBooks Desktop is not yet available in the QuickBooks Online version. However, you can create a Purchase Order and convert it to a Bill once you receive the items. Here are the steps to follow:

  1. Click the Plus icon.
  2. Choose Purchase Order.
  3. Enter the necessary information.
  4. Click Save.
  5. Click Copy to Bill.
  6. Update other information such as the Bill date.
  7. Click Save.

That should help you record your transactions in QuickBooks.

 

You can send your feedback to our product team so this may be considered in the future update. Please visit and post your idea in this link: https://feedback.qbo.intuit.com/forums/168199-quickbooks-online-feature-request.

 

You can add a comment below if you have other questions or concerns. I can provide further assistance. Have a blissful day!

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