How does an invoice affect inventory numbers?

Hi there, JeffGuldenschuh.

Let me share some insights about importing invoice and how it affects your inventory items in QuickBooks Desktop (QBDT).

After you successfully imported an invoice, it automatically deducts the quantity of your inventory items. Please note that once you delete the transaction, the inventory numbers will go back to their original quantity before you import the invoice.

I've added this link to learn more about Fishbowl and how it works well with QBDT. 

You can also check out our Support page for more tips and guides in managing your inventory.

Feel free to post a comment for any follow-up questions about invoice and inventory. I'll be here to help. Have a good one!

In this specific instance, we had a receiving error where we received an incorrect quantity of product which then transferred over to Quickbooks for the entire amount.

We contacted Fishbowl support and they did a credit to remove the overage from inventory but the credit was done at ZERO cost so the inventory should have been corrected but we have a credit for $0 in Quickbooks which should have been for the original invoice amount to cancel it out.

Since the two transactions aren't for the same amount, if I delete the invoice from Quickbooks, will it then increase the inventory dollars in Quickbooks making inventory look inflated?

Thanks again for the help and I appreciate the links you sent.

Not sure if my previous response got posted.

The specific issue we have is this:

We received an incorrect quantity in Fishbowl.  We contacted Fishbowl support and they did a credit to remove the incorrect amount.  The invoice for the incorrect quantity was approximately $12,000 which would have added to our inventory numbers.  The credit that support did was for the inventory but at $0 which wouldn't have effected our inventory dollar amount.

Since the invoice is sitting in QuickBooks at $12,000, and the credit is sitting at $0, the credit won't cancel out the inventory dollars for the invoice.  If we delete the invoice, will the $12,000 be removed from the inventory dollars in Quickbooks?

Hello, JeffGuldenschuh.

Thanks for providing additional information about the issue. 

Yes, you may delete the $12,000 invoice which is incorrectly added to your QuickBooks account. Here's how to do it:

1. Go to the Accountant menu and select Batch Delete/Void Transactions.
2. Choose Invoices under Transaction Type
3. Select the transaction you want to void from the available transactions list.
4. Click Review and Void.
5. Select Back Up and Void. You can also avoid the backup and select Void just from the dropdowns.
6. Press Yes to affirm you want to void the event.

You may also consider reaching out to Fishbowl support if they can delete the invoice for the incorrect quantity.

Here are some inventory related articles you can read for future reference:

• Adjust your inventory quantity or value in QuickBooks Desktop.
• Understand inventory assets and cost of goods sold tracking.

Tag me in a comment below if you need more help.

GlinetteC

I know how to delete an invoice, I want to know how deleting that invoice in Quickbooks will affect the inventory dollar number.

Allow me to step in and help clear things out about deleting an invoice, JeffGuldenschuh.

When you say 'inventory dollar number', are you referring to the sales price or cost of the item? If so, deleting the invoice won't affect the price.

Once you delete an invoice, QuickBooks will put back the quantity on hand. Hence, your inventory will increase.

If you're referring to something else, please click the Reply button below. Then, share more details about the inventory dollar number.

I'm adding these articles for your additional guide while managing inventories in QuickBooks.

• Set up Advanced Inventory
• Take control with Advanced Inventory.

I'll keep this post while waiting for your response. Thank you and have a great day ahead!

I am specifically looking to see how deleting an invoice will affect the GL account for Inventory.  We don't track our inventory in QuickBooks so only the GL account dollars are my concern.

I am specifically looking to see how deleting an invoice will affect the GL account for Inventory.  We don't track our inventory in QuickBooks so only the GL account dollars are my concern.