Purchase Invoice

I'm here to make sure you're able to fix your inventory quantity in QuickBooks Online (QBO), @ellapots.

Even though your purchase invoice is dated past the current date (May 5, 2021), you'll still need to key it in. This lets the system know that you restocked. Then, QuickBooks automatically increases the quantity on hand by the number of items you received.

To key in your purchase invoice, here's how:

1. Go to the + New button.
2. Select Purchase order.
3. From the Vendor drop-down, select the vendor.
4. Fill in all other necessary details like Ship to, Purchase Order date, and Mailing address.
5. In the Item details section, enter the products you want to purchase. Note: You can only add products or services you marked as "I purchase this product/service from a vendor." Learn more about editing products and services.
6. When you're done, select Save and close. 

I've attached a screenshot below that shows the last four steps.

After recording your purchase invoice, you're now ready to add it to your business expense or bills. This will automatically change the transaction's status to Closed. There are two ways to do this process. Choose the appropriate one that applies:

• Create a bill from the purchase order if you pay your vendor later.
• Create a check or an expense from the purchase order if you paid your vendor on the spot.

Also, you can use reports to get helpful insights on the things you buy and sell, and the status of your inventory. To help you choose which one to run depending on what kind of info you want to see, I encourage you to check out this article: Use reports to see your sales and inventory status.

I'm just a comment away if you need further assistance in managing your inventory items in QBO. Take care and have a nice day, @ellapots.

@ellapots ,

QuickBooks just shows the right thing. You'd normally have a negative inventory because you used the item in sales before May 5, which was the day you acquired the item. There isn't a need to correct the value. Just record and date the transactions accordingly. The inventory count/value should autocorrect on May 5.

Purchases in quantity is not reflecting in the inventory of stock, making the items to go to negative when invoice is raised, how do i resolve this pls?