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MohamedAbujreda
Level 2

Inventory management : deducting quantity

Hello,

 

I'm running a production company, so I fill the Inventory with several items that only produce one product and this product may vary from one project to another depends on customers need.

So; I subtract the quantity from the inventory by creating an Expense with Zero amount by entering a negative quantity (please check the photo attached).

In result; we estimated the project cost correctly but when I checked the inventory I've noticed that the quantity is not correct.

please review and advise!

 

 

Zero Expense.png

Solved
Best answer July 28, 2021

Best Answers
JonpriL
Moderator

Inventory management : deducting quantity

Hello @MohamedAbujreda,

 

In QuickBooks Online, transactions with entries that are lower than 0 will not affect your data and reporting. This is the reason why even if you're creating an expense, the transaction will not reduce your inventory quantity since you used a negative number.

 

With this, let's consider creating your expense with no negative entries since it is already a money-out transaction. And it'll automatically reduce the quantity of your inventory. Learn more about your transaction with this article: Enter and Manage Expenses in QuickBooks Online.

 

On top of that, I've also included this reference helpful with the resources needed while with your expenses and vendors: Enter expenses, pay bills, write checks, and manage suppliers in QuickBooks Online.

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

View solution in original post

1 Comment 1
JonpriL
Moderator

Inventory management : deducting quantity

Hello @MohamedAbujreda,

 

In QuickBooks Online, transactions with entries that are lower than 0 will not affect your data and reporting. This is the reason why even if you're creating an expense, the transaction will not reduce your inventory quantity since you used a negative number.

 

With this, let's consider creating your expense with no negative entries since it is already a money-out transaction. And it'll automatically reduce the quantity of your inventory. Learn more about your transaction with this article: Enter and Manage Expenses in QuickBooks Online.

 

On top of that, I've also included this reference helpful with the resources needed while with your expenses and vendors: Enter expenses, pay bills, write checks, and manage suppliers in QuickBooks Online.

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

View solution in original post