Let's pull up a report so you can determine what inventory items needed to be scrapped.
If you're using QuickBooks Desktop, you can open the Sales by Item Summary report. This report shows how many quantities are on hand, items or services you have sold, total dollar sales, and profitability of each product or service.
Here's how to pull up the report:
Go to your Reports menu.
Select Sales, then choose Sales by Item Summary.
Click the drop-down list from the Dates section, then select the desired date.
On the other hand, you can open the Sales by Product Summary if you're using QuickBooks Online. This report includes the quantity, % of sales, and average price. This also summarizes each item on your product/service lists.
To get the report:
Select Reports from the left pane.
Enter Sales by Product/Service Summary in the Find report by name search box.
Select the desired date from the Report period drop-down list.
Click Run report.
You can also check out this article: Available reports in QuickBooks Online to get a quick snapshot of various aspects of your business. This article provides the name of the report and its description.
Should you need anything else, please let me know. I'm always around whenever you need assistance generating your financial reports.
Yes, I tried using this report, but it does not have the information I require. I need a report showing quantities sold of each inventory item in order to determine if low sales indicate an item should be scrapped. Unfortunately, this report does not how current on-hand inventory amounts, only quantities sold which I need in order to make a thoughtful decision. I have attached an example of what I am getting. I use Desktop Mfg & Whse 18.0 the latest version. Do you know of any other report that might help? thank you!