Multiple inventory questions

Let's go over to your questions, Alwaysgoods.

Concerning the first one, you can create either a bill, check, or expense transaction. It will add purchased items to inventory without any POs. 

On your second question, there's nothing to resolve. The cash and accrual are methods in reporting income and expenses. Although, they can provide a different picture depending on the method you'll pick. For example, when you use the cash method, it counts income or expenses as though you've got the payment already. While the accrual method counts income or expenses when you send the invoice or got the bill. For more information, refer to this article.

Lastly, the answer is yes. You can add sold or paid items. Just ensure the As of date is correct since you can't use that item before that date. Also, ensure to create the transactions that will affect the items movements. It will help you add the items and enter the transactions accurately.

For more information, please refer to this article on how to set up and track your inventory in QuickBooks Online.

We're just around if you have other concerns. Feel free to get back to us.

Hi @Alwaysgoods , i think would be easier if you entry the journal manually. Record when purchase inventory (dr inventory cr cash/payable), then record the expense and cash when it sold (dr expense cr inventory, dr cash cr income). Comment back, cheers. 

Hi @Alwaysgoods , i think would be easier if you entry the journal manually. Record when purchase inventory (dr inventory cr cash/payable), then record the expense and cash when it sold (dr expense cr inventory, dr cash cr income). Comment back, cheers. 

Hi @Kristine Mae. Thanks for your quick reply. Ok, fine for the first and second answer.

About the third one, it looks like if I put an older date, with 0 on my hand as a beginning, the system didn't accept that. any other idea?

Thank you!

Andrea

Hi @gayatriluthfias20 , thanks for your answer. I will try it.

Hi @Kristine Mae , I forgot another question about inventory. This is my regular scenario: I purchased from different vendors, and from each vendor different products.

When I add a new expense for a new purchase, I have the choice to Add a Category detail and Item details, as you can see from the file attached.

I was wondering what I have to choose: the category "Cost of Good Sold related with the vendor" or list all the items purchased?

If I fill the list of the item, will these be calculated as the correct Cost of Good Sold too?

Thank you!

Andrea