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Join nowBrand new to QB Premier and excited to start my online business shortly.
I am a little confused on how to reconcile the QOH that gets updated for a PO-Bill-AP workflow to the Qty I need for building my product assembly.
Suppose I buy Item X from a Vendor A at Price M. The item is a bulk purchase and comes with 300 sub-items when delivered. Each product type that I build uses only 1 of the 300 sub-items and the per-item cost should be reduced accordingly 16.90/300 (0.056/item), so theoretically I can build 300 products using this Item X.
So should QB be showing QOH for Item X as 300 or as 1? Secondly, what's the proper way to get the pricing right to get my product 'Bill of Materials' cost accurate (ie. I buy in bulk pack, but use only single items)?
Thank you!
Solved! Go to Solution.
Thanks for posting to the Community, @sjangity.
QuickBooks should show X item QOH as 300 since you wanted to build 300 products using this item.
When you purchase this item as a bulk order, I'd suggest adding a unit of measurement so that it would appear on the PO as one bulk purchase and will reflect as 300 items in QOH items. It's like purchasing a dozen of eggs and recorded as 1 item in PO and saving it in QOH as 12 pieces.
Let me show you how when you record it in PO:
You can then Receive Inventory with Bill and Pay Bills to make the number of items appear on the QOH column.
That way, your inventory assembly items will be recorded seamlessly and accurately recorded as 300 in total.
Just in case you wanted to adjust the Sales Price of the item due to the customer's demand, you can follow these steps:
Please let me know if you have more questions. I'll keep my notifications open. Have a great weekend!
Thanks for posting to the Community, @sjangity.
QuickBooks should show X item QOH as 300 since you wanted to build 300 products using this item.
When you purchase this item as a bulk order, I'd suggest adding a unit of measurement so that it would appear on the PO as one bulk purchase and will reflect as 300 items in QOH items. It's like purchasing a dozen of eggs and recorded as 1 item in PO and saving it in QOH as 12 pieces.
Let me show you how when you record it in PO:
You can then Receive Inventory with Bill and Pay Bills to make the number of items appear on the QOH column.
That way, your inventory assembly items will be recorded seamlessly and accurately recorded as 300 in total.
Just in case you wanted to adjust the Sales Price of the item due to the customer's demand, you can follow these steps:
Please let me know if you have more questions. I'll keep my notifications open. Have a great weekend!
Thank you, that helped!
One final question is how to deal with 'buy-in yards', sell in 'sq.in'. The cap for sq. inches appears to be 10K (image below)? I buy material sometimes that's 20"x50yd, sometimes 30"x10yd, etc., but when I build my products the bill of materials will be expressed in sq.in.
Please see below.
Thanks for getting back to us, @sjangity.
I'm here to walk you through in building your products in QuickBooks.
We'll use the Unit of Measure (U/M) feature, which shows the quantities, prices, rates, and costs for an item.
If you haven't turned on this feature yet, then you can follow the steps below on how:
Then, you can start adding a unit measure of the set. Here's how:
Note: After a Unit of Measure is added, it can no longer be deleted.
Once done, you can now create an item. I'll guide you how:
Also, there are two units of measure modes in QuickBooks; Single U/M Per Item and Multiple U/M Per Item. The way to change a unit of measure depends on which of these modes is currently selected. To see which unit of measure mode is currently selected, we can follow these steps:
To know more about the function of these modes, you can check out this article: When to use Single U/M per item or multiple U/M per item in QBDT.
Keep me posted if you have additional QuickBooks questions, sjangity. I'm always here to help.
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