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Level 2

Project and inventory

Hi!

I'm actually  new to this software and would like some clarifications.

 

1. If im adding a bill with items in it and selecting customer/project field, will the items automatically get deducted from the inventory without me invoicing the item from the stock.

 

2. Ive made a PO, a bill and a payment which is on cash basis from a supplier and other suppliers in the same manner, how will I properly file the documents as qb does not generate a transaction number.

Solved
Best answer June 08, 2020

Best Answers
Highlighted
QuickBooks Team

Project and inventory

I appreciate you getting back to us, @Hijasmuhammed.

 

At this time, adding another field to enter the supplier invoice number in Purchase Order isn't available. QuickBooks Online (QBO) only allows you to customise sales forms, like invoices, sales receipts, and estimates template.

 

As a workaround, you can consider entering the supplier invoice number in the Description field to track it. Here's how:

 

  1. Click the + New button, then select Purchase Order.
  2. Choose the Supplier from the drop-down.
  3. Enter the necessary information in the Category or Item details.
  4. In the Description field, enter the supplier invoice number.
  5. Click Save and close.1.PNG

I'm adding this article for more details: Create purchase orders in QuickBooks Online.

 

You might also want to check out this article to learn how to run purchase order reports: How to run purchase order reports.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. Have a good day and keep safe.

View solution in original post

6 Comments
Highlighted
Moderator

Project and inventory

How are you, Hijasmuhammed?

 

I'm glad that you're now using QuickBooks to help you manage your business. It's my pleasure to help and share with you some information about the software.

 

Creating a bill and making it billable with a customer/project has nothing to do in subtracting our inventory. The number that we have entered from the bill will be added to our inventory once it's saved. With that, it'll only change the quantity of the item, but it will not automatically deduct the inventory. 

 

For your second question, I see that you're using the same process for multiple suppliers. What you have figured out is right that QuickBooks will generate a transaction number every time we create a transaction like purchase order (PO) and bill payment. This how QuickBooks works.

 

If you don't want to have a transaction number, we can manually remove it by following these steps. I see that this is not a simple method since it requires more effort on our part to make these things done. But, it's a way to help us remove the transaction number in QuickBooks. Here's how:

 

  1.  Go to Expenses on the left side.
  2. Select the Suppliers tab and choose the name of the supplier.
  3. Open the transaction.
  4. Remove the transaction number. Let's say in the PO no.
  5. Then, Save.

j.PNG jj.PNG

 

Let me know if you have other questions about QuickBooks Online. I'm always around to assist and provide you further information as you need. I hope you're okay. Keep safe!

Highlighted
Level 2

Project and inventory

Hi Sarah!

Thank you for the reply. My initial query is solved. but the second question, to be more precise is that quickbooks only has one field for entering the reference number (where I will enter the supplier invoice number) and does not generate a transaction number which I can use to file the documents of all the suppliers in one file based on the transaction number.

 

Please let me know if the question is not clear.

 

Thanks again!

Highlighted
QuickBooks Team

Project and inventory

I appreciate you getting back to us, @Hijasmuhammed.

 

At this time, adding another field to enter the supplier invoice number in Purchase Order isn't available. QuickBooks Online (QBO) only allows you to customise sales forms, like invoices, sales receipts, and estimates template.

 

As a workaround, you can consider entering the supplier invoice number in the Description field to track it. Here's how:

 

  1. Click the + New button, then select Purchase Order.
  2. Choose the Supplier from the drop-down.
  3. Enter the necessary information in the Category or Item details.
  4. In the Description field, enter the supplier invoice number.
  5. Click Save and close.1.PNG

I'm adding this article for more details: Create purchase orders in QuickBooks Online.

 

You might also want to check out this article to learn how to run purchase order reports: How to run purchase order reports.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. Have a good day and keep safe.

View solution in original post

Highlighted
Level 2

Project and inventory

Hi Mark!

 

Thanks for the confirmation. I will have to file according to the date or like you said, I will have to enter the supplier invoice number in the description and mention the reference number in the field.

 

Thank you

Highlighted
Level 2

Project and inventory

Hi @Mark_R !

Hi @SarahannC 

 

There is one more thing I need help with.

 

I have added a bill with a value of say 320.25 and when Im paying the supplier at a later date ive paid him only 320, but qb does not have an option to round off or discount the .25. The amount shows in the payables and does not look clean. Is there a simple work around for this as I have some bill which are in decimals and we usually pay by rounding it up or down to the nearest value.

Highlighted
QuickBooks Team

Project and inventory

Good observation, Hijasmuhammed. QuickBooks Online is unable to round off the amount.

 

You can create a journal entry to zero out the payable account. Here's how:

  1. Click the Gear icon.
  2. Select Journal entry.
  3. Fill in the necessary fields.
  4. Click Save and close.

Before creating any entries, I'd suggest conferring with your accountant on the best way to categorize the items.

 

Moving forward, you'll want to add a discount item to a bill before paying it. I'll guide you with the steps. 

 

First, create an account for the discount item. Here's how:

  1. Click Accounting, then go to Chart of Accounts.
  2. Click New.
  3. Select the Account Type and Detail Type.
  4. Enter the desired name, then click Save and Close.

Next, create a discount item. Here's how:

  1. Click the Gear icon, then go to Products and services.
  2. Click New, then select Service.
  3. Enter the desired name.
  4. Under Income account, select the account created earlier.
  5. Click Save and close.

Lastly, once you pay the bill, open the transaction, add the item, and then pay it. 

 

If you have more questions, please feel free to click the Reply button below.