Hi, I carry inventory parts which I used to make Assemblies. How do I record "Free inventory?"
someone gave me free parts which I need to add to my inventory count, but it is at ZERO cost. How do I record this in 2019 Quickbooks Enterprises Desktop. I want this to modify the inventory quantity, and well the costs of the product given to me since it is at ZERO cost.
You have to enter the bills with zero amount to record the transactions or services provided by a vendor. This will reduce the inventory and will record the COGS as an expense.
Here's how:
Click Enter Bills on the Home page.
Pick the name of the Vendor.
Select the appropriate tab ( Items or Expenses )
Choose the expense account or the item.
Enter zero amount in the cost column.
If you are tracking billable expenses, select the customer job and put a checkmark in the Billable column.
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