Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 2

COGS/reordering bulk purchase, individual sale

My supplier sells in bulk.   5 widgets in a bag.   I sell them individually.  We I receive the item  I can set the qty to 5 & divide the cost to get an appropriate COGS.  However, when I attempt to reorder, the purchase price is incorrect & I end up having to modify the PO price.

Solved
Best answer April 03, 2019

Best Answers
Anonymous
Not applicable

COGS/reordering bulk purchase, individual sale

Looks like your on Desktop - you should switch on the system option for Inventory  'units of measure'.

Then define a Bag5 unit for that item which contains 5 pieces.

Now you can buy and sell in single units or Bag5 units and the costing will be correct. 

View solution in original post

3 Comments
Anonymous
Not applicable

COGS/reordering bulk purchase, individual sale

Looks like your on Desktop - you should switch on the system option for Inventory  'units of measure'.

Then define a Bag5 unit for that item which contains 5 pieces.

Now you can buy and sell in single units or Bag5 units and the costing will be correct. 

View solution in original post

Level 1

COGS/reordering bulk purchase, individual sale

Then do you have to adjust the inventory manually?

QuickBooks Team

COGS/reordering bulk purchase, individual sale

Hi aboard2123,

 

In addition to MikeinBC's answer, you'll have to switch the unit of measure option in the inventory item.

 

Here are the steps:

  1. Click Lists located at the top.
  2. Choose Item List, and find the item.
  3. Double-click the item to open.
  4. Under Unit of Measure, select the U/M Set from the drop-down list.
  5. Click OK.

Then, manually adjust the inventory by following the steps:

  1. On the Item List page, right-click on the item.
  2. Choose Adjust Quantity/Value On Hand.
  3. Select the Adjustment Type, Adjustment Date and Adjustment Account.
  4. Click the Find & Select Items button.
  5. Click Save and Close.

You can also check this article for more details: Adjust inventory quantity or value.

 

If there's anything else you need, feel free to leave a comment. Thanks.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us