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anggeriktaj
Level 2

HOW TO KEY IN CLOSING STOCK

 
1 Comment 1
FritzF
Moderator

HOW TO KEY IN CLOSING STOCK

Thanks for reaching out to the Community, @anggeriktaj.

 

If you're trying to close your books in QuickBooks Online (QBO), please refer to the steps below. Before we proceed, make sure to sign in as a master admin or company admin.

 

Once done, here's how:

 

  1. In QBO, go to the Gear icon at the top right to get to the Account and Settings
  2. Choose the Advanced tab at the left pane.
  3. Tick the Edit (pencil) icon in the Accounting section, then place a checkmark on the Close the books box. 
  4. Enter a closing date.
  5. If you want a password before editing your closed books elect the Allow changes after viewing a warning and entering a password option in the drop-down.
  6. Hit Save and Done.

 

You can also review your closed books. For further guidance, visit this article: Close your books to lock past transactions.

 

On the other hand, if you're referring to adding inventory stocks, you need to create and send a purchase order (PO) to let the supplier know what items you need.

 

Here's how:

 

  1. Go to the Sales menu at the left pane to get to the Products and Services.
  2. Select Low Stock or Out of stock
  3.  Click Batch actions, then Reorder. This creates a purchase order for a single supplier.
  4. Enter the necessary details in the PO.
  5. Hit Save and send to complete.

 

After that, you can track what you receive from the supplier. Check out this article for more information: Reorder inventory or supplies from suppliers.

 

The system uses reorder points to let you know what’s running low and what’s out of stock. All you need to do is to set it up in QBO. If you want to learn more about this, refer to this article: Get alerts for low or out of stock products.

 

Please let me know if you're referring to something else or if you have any other questions. I'm always here to answer them. Have a good one!