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My retail business has two divisions/business units. I use the tagging feature to track the P&L and activity of each division. Let's say that division A purchases inventory. Division B runs out of inventory. I want to record a transfer of inventory from division A to division B. Is there a way to do this with the tagging feature or another way?
Hello there, @hondacr182.
QuickBooks Online (QBO) does not have multiple locations for inventory. If you’re referring to actual locations, tagging feature is only for transactions.
However, this looks like a good addition to the program. Rest assured I’ll pass along this idea to our product developers.
In the meantime, you can visit our QuickBook blog page to keep up with the latest news and product updates.
I’ve added an article related to tagging features in QuickBooks Online: Tag transactions in QBO. It provides information on how to use tags and group tags to get deeper insights into your sales and expenses.
Please know I'll be right here if you need more help. Thanks.
What would be the best way to create a transaction to show that Division B used some of the supplies that Division A purchased at an earlier date? For example, on 1/1/21, Division A purchases $100 worth of supplies. On 1/15/21, Division B is allocated $50 worth of those supplies to use. Division B has it's own tag group in Quickbooks Online. I would like to record that $50 worth of supplies against Division's profit and loss as an expense. When I create an expense and tag it as Division B, however, it makes it look as if the supplies were paid for twice since Division A already paid for them earlier.
Consider having an additional app to manage multi warehouses.
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