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Rj2000
Level 1

Inventory

I have Quickbooks Enterprise 2022. Trying to figure out best way to record inventory for following:

1- Our customer owns the inventory, which is stored at our facility. We have it setup with zero cost in our system. 
2- we assemble their inventory and keep as final product in inventory for shipping when needed. 
3- i need to bill them and show recorded income for services rendered in the assembly process, but need the inventory qty to not be affected until we actually ship the product?

4- My problem right now is that when we bill them it deducts the inventory, so qty showing is always at zero. 

Solved
Best answer November 25, 2021

Best Answers
Rea_M
QuickBooks Team

Inventory

I'm here to guide you on the best way to record your inventories in QuickBooks Desktop (QBDT) Enterprise, @Rj2000.

 

Based on your scenario, you'll have to provide an invoice to your customer to bill them and show recorded income for services rendered in the assembly process. Since you need the inventory quantity not to be affected until you actually ship the product, you'll have to use a service item when invoicing/billing your customer. 

 

To do this, here's how:

 

  1. Go to the Lists menu, then choose Item List.
  2. Select the Item drop-down and choose New.
  3. Input the Item Name and all other necessary info.
  4. Click OKService Item QBDT 2022.PNG

 

Once you're done, go ahead and bill your customer. You can refer to this article for the detailed steps: Create an invoice in QuickBooks Desktop.

 

Then, pull up an inventory report (i.e., Inventory Valuation Detail) to effectively monitor the quantity of the items stored in your facility. To do this, go to the Reports menu, then select the Inventory option. 80.PNG

 

Also, you can combine inventory parts to build and track finished goods in QBDT. Then, the system automatically updates your stock of components using inventory parts. To learn more about this, I'd recommend checking out this article: Track the products you manufacture.

 

Please keep me posted on how it goes. Let me know in the comments if you have other concerns about managing inventories in QBDT. I'm always around to help. Take care, and I wish you continued success, @Rj2000.

View solution in original post

2 Comments 2
Rea_M
QuickBooks Team

Inventory

I'm here to guide you on the best way to record your inventories in QuickBooks Desktop (QBDT) Enterprise, @Rj2000.

 

Based on your scenario, you'll have to provide an invoice to your customer to bill them and show recorded income for services rendered in the assembly process. Since you need the inventory quantity not to be affected until you actually ship the product, you'll have to use a service item when invoicing/billing your customer. 

 

To do this, here's how:

 

  1. Go to the Lists menu, then choose Item List.
  2. Select the Item drop-down and choose New.
  3. Input the Item Name and all other necessary info.
  4. Click OKService Item QBDT 2022.PNG

 

Once you're done, go ahead and bill your customer. You can refer to this article for the detailed steps: Create an invoice in QuickBooks Desktop.

 

Then, pull up an inventory report (i.e., Inventory Valuation Detail) to effectively monitor the quantity of the items stored in your facility. To do this, go to the Reports menu, then select the Inventory option. 80.PNG

 

Also, you can combine inventory parts to build and track finished goods in QBDT. Then, the system automatically updates your stock of components using inventory parts. To learn more about this, I'd recommend checking out this article: Track the products you manufacture.

 

Please keep me posted on how it goes. Let me know in the comments if you have other concerns about managing inventories in QBDT. I'm always around to help. Take care, and I wish you continued success, @Rj2000.

View solution in original post

Rj2000
Level 1

Inventory

Thank you for your response. I believe that is what we were looking for. Going to get our team to implement this week. Thank You 

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