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NicoleZimbo
Level 3

QBO inventory starting / opening quantity

I imported my products (inventory) with zero qty as I did not have final stock on hand figures and wanted to start using the system.  I have since done invoices, which puts my Inventory Asset account into negative and now want to enter my starting stock qty, I know how to do this one by one but I have three pages of stock items - is there anyway to do this as an import ? I think (?) it must be starting stock and not an inventory adjustment. The start date of inventory seems to be a factor vs invoice date.

Thanks

Solved
Best answer January 22, 2020

Best Answers
JenoP
QuickBooks Team

QBO inventory starting / opening quantity

You can re-import the inventory file that you previously used, NicoleZimbo.

 

Just make sure to enter the updated Quantity on hand and Quantity as-of Date details. Then, check the Overwrite all values for each product or service that you import with the identical name box when importing the file so it will not create duplicate items.

 

Quickbooks will also automatically adjust the Quantity on hand as long as the invoice date is after the starting date of the inventory. You might want to do it first on one or two items for you to see how it affects your Inventory Asset account and Quantity on hand in QBO once imported. 

 

You can also bookmark or save these articles and video guides in case you might need them in the future:

 

Tap on us again or ask another question if you need more help with the products that you're selling.

 

 

View solution in original post

6 Comments
JenoP
QuickBooks Team

QBO inventory starting / opening quantity

You can re-import the inventory file that you previously used, NicoleZimbo.

 

Just make sure to enter the updated Quantity on hand and Quantity as-of Date details. Then, check the Overwrite all values for each product or service that you import with the identical name box when importing the file so it will not create duplicate items.

 

Quickbooks will also automatically adjust the Quantity on hand as long as the invoice date is after the starting date of the inventory. You might want to do it first on one or two items for you to see how it affects your Inventory Asset account and Quantity on hand in QBO once imported. 

 

You can also bookmark or save these articles and video guides in case you might need them in the future:

 

Tap on us again or ask another question if you need more help with the products that you're selling.

 

 

View solution in original post

BernieJ
Level 2

QBO inventory starting / opening quantity

Can this method be used to import beginning quantities for multiple site locations?  We have 5 different site locations setup in Quickbooks Enterprise and are looking to import beginning quantities for each location.

 

Thank you,

Bernie

Fiat Lux - ASIA
Level 15

QBO inventory starting / opening quantity

@BernieJ 

Utilize the importer tool for QB Desktop. It will query the advanced inventory settings to determine what fields to add to the Importer mapping screen

https://transactionpro.grsm.io/qbd

https://partners.saasant.com/affiliate/idevaffiliate.php?id=5051_2

 

Hope it helps.

poolbuilder
Level 1

QBO inventory starting / opening quantity

We are setting up QuickBooks for the first time and need the "initial cost" field under starting value to be updated. Currently this value is zero for all items and this is a problem when we run our "inventory valuation report", it uses "initial cost" and therefore the report shows zero. We would like to update this through a bulk import but the import function unfortunately does not show the "initial cost" as an importable field. We have 2000 lines of inventory so hoping there is a way to avoid updating each item manually.

Joesem M
QuickBooks Team

QBO inventory starting / opening quantity

Hi there, @poolbuilder.

 

Currently, we're unable to update the starting value through importing since it will show the current cost. However, you can search for the app from the App Center and look for software that will help you import your transactions. Let me guide you how.

 

  1. In your QuickBooks Desktop, go to the Help menu and select App Center: Find More Business Solutions.
  2. In the Apps for QuickBooks Desktop Marketplace window, search for the software from the field.
  3. Then, select the app from the list

 

You can also go directly to this link: https://desktop.apps.com/home.

 

 On the other hand, you can also bookmark the articles that my colleague JenoP shared. It contains reports and video tutorials that will guide you with your inventory items.

 

Additionally, I'm adding this article to further guide you in managing the growth of your business using QBDT: QuickBooks Help Articles. It includes topics about data security, banking, and expenses, to name a few. You can click the + More topics button to view other selections.

 

Reach out to me anytime if you have other QuickBooks concerns. I’ll jump right back in to help and make sure you’re taken care of. Take good care!

Fiat Lux - ASIA
Level 15

QBO inventory starting / opening quantity

@poolbuilder 

Explore the importer tools as I mentioned in earlier post.

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