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flamingosalt@gma
Level 1

I buy salt in bulk, repack it and sell it to wholesalers. When I buy the raw salt goes under inventory? And when I sell it it goes under sales?

I see that after I have made sales it does not subtract from my inventory and on my balance sheet it states that I still have all that inventory. How do I ensure my sales remove the stock from inventory?
2 Comments 2
DebSheenD
QuickBooks Team

I buy salt in bulk, repack it and sell it to wholesalers. When I buy the raw salt goes under inventory? And when I sell it it goes under sales?

I've got you covered, flamingosalt@gma.
 

Once an inventory item is purchased, it'll go to the income account you've set up. This will affect your inventory or the cost of goods sold (COGS).

If the inventory items were set up, there are two ways on how to track your sales to remove the stock from inventory:


I've added this article for additional information about inventory tracking: Set up and track your inventory in QuickBooks Online.

Additionally, I've added this article that'll help you fix inventory issues: Fix negative inventory issues in QuickBooks Online.

I'm still here if you have other questions with regards to tracking your sales. Just post your questions here, I'll respond as soon as possible. Keep safe.

Fiat Lux - ASIA
Level 15

I buy salt in bulk, repack it and sell it to wholesalers. When I buy the raw salt goes under inventory? And when I sell it it goes under sales?

flamingosalt@gma 

You need an additional app with unit measurements feature to integrate with your QBO.