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Level 1

Best way to convert non inventory to invetory

Hi

I have listed my inventory part as non inventory part and i need to convert to inventory part

I understand i can change it manually to inventory part but is this the smartest way to go or is there any smarter way to go, meaning that will be more accurate accounting 

  • I have inventory in the non inventory 
  • I want to track inventory in inventory 
  • i created group items on the non inventory items 


Thanks 

Solved
Best answer 12-10-2018

Best Answers
Highlighted
Level 15

Best way to convert non inventory to invetory

do NOT do that

if you do the entire history of the file will change, as well as previous years financial reports

make the non inventory item inactive and create inventory

unless you are really sure you know what will happen to the financials, never change one item type to another in QB even if intuit allows it

View solution in original post

5 Comments
Highlighted
Level 15

Best way to convert non inventory to invetory

do NOT do that

if you do the entire history of the file will change, as well as previous years financial reports

make the non inventory item inactive and create inventory

unless you are really sure you know what will happen to the financials, never change one item type to another in QB even if intuit allows it

View solution in original post

Highlighted
Anonymous
Not applicable

Best way to convert non inventory to invetory

Hi Rustler! I have a similar situation at work.  My boss asked me to change the non-inventory items to inventory items so we can have our financial reports more accurate. But my question are :
1. Which cost of goods sold will post into the profit and loss if we create new items with an initial quantity and we start selling them? The one we enter as cost into the purchasing information section of the item?
2. Which cost of goods sold will post into the profit and loss when we start buying the item? does it calculate an average cost including the initial cost entered in the information section or just the real purchase costs?

3. If QB uses the cost entered in the purchasing info to calculate the COGs of items entered with initial quantity, does QB change that cost once a purchase is registered? 

I hope you can help me with my dilemma ;)

Thanks

Highlighted
Level 1

Best way to convert non inventory to invetory

I am experiencing a similar problem.  When I create an estimate with new items, QB Desktop creates the items as NON inventory.  This completely messes up my income from resale as it puts the cost of the item in the income account rather than COGS.

Chuck

Highlighted
Level 1

Best way to convert non inventory to invetory

I am experiencing a similar problem.  When I create an estimate with new items, QB Desktop creates the items as NON inventory.  This completely messes up my income from resale as it puts the cost of the item in the income account rather than COGS.  These items are being newly created when an estimate has items that don't exist.

Chuck

Highlighted
QuickBooks Team

Best way to convert non inventory to invetory

Hello there, BonnieBorn and Voiceness.

 

Thank you for joining this thread. Allow me to step in and provide more details about converting non-inventory item to inventory item.

 

In QuickBooks, you can't convert an inventory item to a non-inventory item or vice versa. As a suggestion, you can deactivate the non-inventory item and create a new one with the correct type.

 

Here's how to deactivate an item:

  1. Click Lists.
  2. Choose Item List.
  3. Highlight the item.
  4. Right-click on your mouse, choose Make Item Inactive.

After that, follow this steps in adding an inventory item:

  1. On the same screen, right-click on your mouse.
  2. Choose New.
  3. Choose Inventory Part.
  4. Enter the necessary information.
  5. Click OK to save.

 

For in-depth information, you can use this article as a reference: Add, edit, and delete items. After correcting your items' information, you can already select them when creating transactions which will update your reporting.

 

Let me know if you have follow up questions about the inventory feature in QuickBooks Desktop. I'd be around to help you more. Have a wonderful day ahead!

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