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Natalie C
Level 2

Item Sales and Inventory

I currently run 9 stores and use QuickBooks Enterprise desktop for them. Each is a separate company but they all sell the same goods. On occasion I will make a purchase from one of my stores because I have had it longer so I get better costs, but I will need to "sell" some of the goods to my other stores. How can I do this without it showing up on my Sales report? is it really even a sale? I don't want my sales inflated because I sold stock items to another store, I want it to be store #2's expense and COGS since they will be selling to the end user... Any thoughts on how I can do this in QuickBooks Enterprise D.T. 

 

2 Comments 2
Charies_M
Moderator

Item Sales and Inventory

Hi there, Natalie C.

 

Since you have separate entities with inventory, you'll want to create a vendor and customer profile for each of the stores so you can manage to buy and sell.

 

To add a vendor:

 

  1. Go to Vendors and choose Vendor Center.
  2. Click New Vendor.
  3. Fill in the necessary information.
  4. Hit OK.

 

To add a customer:

 

  1. Go to Customers and choose Customer Center.
  2. Click New Vendor.
  3. Fill in the necessary information.
  4. Hit OK.

However, I'd still suggest consulting professional advice from your accountant to help you handle this type of situation. You can also find an accountant by clicking on this link: Find an accountant.

 

To give more information about managing inventory in QuickBooks Online, check out these articles:

I'm only a post away if you need me. I'm always here to have your back. Take care.

Fiat Lux - ASIA
Level 15

Item Sales and Inventory

@Natalie C 

Just to clarify, why do you keep to manage up to 9 company files separately? If every store has a unique tax id, you have to talk to your accountant or tax consultant about the transfer pricing.

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