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hshontz
Level 1

Inventory- will it update when i create just an estimate or only once the estimate becomes an invoice?

I am confused as to when inventory gets updated in quickbooks online.   Lets say i have 10 widgets in inventory.   If i create an *estimate* for 2 widgets, will my inventory drop to 8 or remain at 10?   

 

How can i get an accurate update on inventory levels if it does not take into effect the items that are essentially 'reserved' for a customer in the estimate's that haven't been converted to invoices yet?

4 Comments
Adrian_A
Moderator

Inventory- will it update when i create just an estimate or only once the estimate becomes an invoice?

Thank you for your ideas,  hshontz.

 

Once you create an estimate, your inventory will not drop down since Estimate is a non-posting transaction. You'll want to create a Sales Receipt and enter the number of an item that you wanted to be reserved. 

 

Here's how:

  1. Click the Plus (+) icon, then choose Sales Receipt.
  2. Fill out the necessary information.
  3. Under the PRODUCT/SERVICE column, choose the widget and the number to be reserved.
  4. Enter a 0 amount on the rate.
  5. Click Save and Close.

To check if the total number of inventory is deducted, click Sales then choose Product and Services.

 

Don't hesitate to post here again if you have other concerns. Have a good day!
 

Rustler
Level 15

Inventory- will it update when i create just an estimate or only once the estimate becomes an invoice?


@Adrian_A wrote:

 

Once you create an estimate, your inventory will not drop down since Estimate is a non-posting transaction. You'll want to create a Sales Receipt and enter the number of an item that you wanted to be reserved. 


 


The underlined part of the response is wrong.

 

@hshontz 

A sales receipt is a final sale, it does decrement the qty on hand since the item is sold

 

you can not reserve inventory in QB for any future sale or project.  Actual Qty on hand is accurate, that fact that you think you will sell or use inventory for a project in the future is not taken into account in QBO.

 

daxd
Level 3

Inventory- will it update when i create just an estimate or only once the estimate becomes an invoice?

We need this, too - did you find a way to track inventory needed for estimates?

GlinetteC
Moderator

Inventory- will it update when i create just an estimate or only once the estimate becomes an invoice?

Thanks for joining this conversation, daxd.

 

It seems to me that this is a duplicate post. It has been answered by my colleague from another thread. Please refer to this link: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-sorry-i-am-using-online-...

 

I also recommend checking these resources to learn more information how inventory works in QuickBooks:

 

Feel free to post anytime if you have additional questions. We're here to answer them.

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