Tips and Tricks to Set Inventory and Non-Inventory Parts in QuickBooks

QuickBooks can work well when set up correctly and proper procedures are followed consistently for selling and buying and adjusting the items. You have the option of adding your inventory and non-inventory items to QuickBooks for tracking purposes.

Let’s start with inventory and non- inventory parts. With inventory parts the item can be coded to assets as the item is purchased the inventory balance is increased for that particular item. On the other hand non- inventory only has one account and both the purchases and sales are recorded to the one account.  Inventory items are those that your business has in stock. Non-inventory items refer to other types of items, such as those that are special ordered. For this set up you need to turn on inventory tracking in your QuickBooks software before creating inventory parts; however, you can set up non-inventory parts without changing the settings in your accounting software QuickBooks. For setting your QuickBooks inventory and non-inventory parts you can take the help of an Expert QuickBooks Technical Support technician to securely manage your accounting software. http://quickbookstechhelp.blogspot.com/2016/05/get-answers-from-certified-quickbooks.html

Inventory Parts        

·         Open your QuickBooks software, click "Edit" in the menu bar and select "Preferences."

·         Click "Items and Inventory," and then click the "Company Preferences" tab.

·         Tap the box next to "Inventory and purchase orders are active" to enable inventory tracking. Click "OK."

·         Click "Items and Services" on the Home window, click the "Item" button, and then select "New."

·         Select "Inventory Part" from the Type drop-down menu.

·         Enter the name of the inventory item in the "Item Name/Number" text box. Click the "Income Account" drop-down menu and opt for the account you want to use to track income from this inventory item.

·         Fill in the remaining sequence on the form as needed, and click the "OK" button to create the inventory part.

For more details, to set your QuickBooks inventory account you can simply take QuickBooks online technical support and resolve your errors related to inventory parts.

Non-Inventory Parts

·         Click on "Items and Services" in the Home window, then click on "Item" button, then click "New" to open the New Item window.

·         From the Type drop-down menu select the "Non-inventory Part".

·         Enter the name for the item in the "Item Name/Number" text box, then select the account to which you want to link the item from the Account drop-down menu.

·         Fill out remaining information, and then click the "OK" button to add the non-inventory part.

These tools will incredibly simplify your work and save the processing time. You can simply synchronize your data with QuickBooks and perform all your important business functions in an effortless manner.