I appreciate you reaching out, Praveen. I understand you need information about inventory functions and the data migration process. I’m here to provide the details you need.
QuickBooks Online provides inventory features to handle stock transfers, consumption, and returns. In QBO Advanced, you can track inventory across multiple locations using designated inventory sites. For other QBO subscriptions, transfers are managed through Inventory Adjustments. Inventory consumption is calculated using the weighted average cost method, where QBO automatically updates the Cost of Goods Sold (COGS) and inventory asset value after each sale. For stock returns, you can use a Credit Note for customer returns or a Supplier Credit for vendor returns to keep records accurate.
Regards to data migration, it depends on whether your current software is supported by QuickBooks. If supported, you can use third-party app tools to migrate your data. If not, you’ll need to manually export key data such as transactions, customer/vendor lists, and account balances into QuickBooks.
For personalized assistance with setup, training, or data migration, I recommend contacting our Live Support Team. They can guide you through the process and help address your specific needs for a successful transition. Here’s how:
- Log in to your QuickBooks account.
- Click the Help (?) icon in the upper right corner.
- In the search field, type in "contact support".
- Click the Contact Us button.
- Choose your preferred method to connect with them (Chat or Callback).
If you have any additional questions or queries, don’t hesitate to reach out. We are available 24/7 to further assist you.
