Lets start with the basics
in products & services you do have inventory type items created?
each item had three accounts on the item screen, Inventory items have three accounts
expense = COGS
income = your sales income account
asset = inventory asset
Are your inventory items set up that way?
I tried creating invoices in my QuickBooks and I was able to decrease my inventory quantity, riaan.
Since your invoices are not affecting the count, there’s a possibility that your browser is causing this issue. There are times that the overloaded files stored in your browser can cause unusual behavior.
To check, let’s create the invoice again on a private window or an incognito. If it works fine, clear your browser’s cache or use a different one.
If the issue continues after doing the steps above, I’d recommend contacting our support team. They’ll be able to investigate this further and help you fix this.
Here’s how to reach them:
Post a question again if you need anything else.
I know I am late to the party here... I have had the same problem with my QBO too. This is a super frustrating problem because sometimes when you make an invoice for 7 items lets say, it will only raise COGS by 1 unit, and decrement inventory by 1. So the only way for me to find this is running a Sales By Product report and scan the Margins and make sure there is nothing out of whack.
The system will fix itself if you go and change the invoice to a different unit amount, save it, and then go back and change it to the original amount. If you then go to the product and run a report, you can see that then the invoice charges for 7, and inventory and COGS are affected by 7 as well.
This is a HUGE problem for me. I have many inventory problems and this particular one is a broken system problem that falls well outside of the Garbage In/Garbage Out principal. Intuit will always give you some excuse too like, oh you need to clear your browser cache, or they couldnt find anything. But it happens, I have seen it happen numerous times, and its not ok.
Hello there, @interaxon.
You'll want to make sure that you've chosen the correct product/service with the correct income account. If the account selected was incorrect, you can change the income account on that specific product/service.
To track manually, please check this article for the detailed steps: Can I track inventory manually?
You can also read this article about: Impacts of inventory tracking on balance sheet and profit & loss reports.
You might want to visit our page for future reference: Inventory and projects.
If you have any additional questions about this topic, let me know by commenting below. I'm here to help anytime. Take care.
I appreciate your help, and not trying to be disrespectful, but that is absolutely not it. I have been working with and am very knowledgeable about QBO. The issue is in ONE product, in the report that you run per product. The problem I have, for this one instance, and I have found another, is that the system is correct in how many units we sold i.e. 7, but it is only removing 1 unit from inventory and increasing COGS by 1 unit.
In the first example I changed the units from 7 to 1 and saved the invoice, then I went back and changed it from 1 to 7 and ran the report again. It changed to the correct amount, but it was split into three entries for Inventory and COGS, so it decreased inventory by 1 unit, 3 units, and 3 units, and the same for the increases of COGS. It is correct, but why it splits it up I dont know, maybe because of the 7 units sold it came from 3 bills in the system?
Then I came across another one, same problem. We had sold 2 units of a product and Inventory and COGS were only affected by 1 unit. THIS time, I had our priority support team on the phone, sharing screens, and all I did this time was change the date, saved it, went back in to change the date, and everything was correct, except this time just like the last, it split the 2 units into 2 instances of Inventory decrease, and 2 instances of COGS increase.
The support team was stumped. Of course they gave me the typical "Weve never seen this before" speech, but unless this is a BRAND NEW problem, I cant imagine that I am the only one who has said anything about this... Waiting to hear back from them on this one. I am so upset about this because in all of the problems and nuances you have to deal with when it comes to accurately tracking inventory the LAST thing you want to have to deal with is your accounting system being broken and doing something on the back end that messes up your counts.
Effectively what this is causing is us paying tax on profit that never existed in the first place and having to go back and adjust inventory in that should have been adjusted out in the first place... Will keep the forum posted on what is found here