How to track and transfer quantities of your Inventory in QuickBooks

Follow

Have you ever worried that someone in your company may accidentally wander into a warehouse and take what they need without notifying the powers that be? Without a proper plan in place, that could be a likely scenario. Ideally, you'll want to establish a procedure that makes it easy for your employees to communicate what has been taken. Once that's done, you can use your QuickBooks to help Transfer the Items and Track the Items as quickly as possible.

1. In QuickBooks, click on the Inventory pull down menu.

 1.png

2. Select Transfer Inventory.

 2.png

3. Fill out the Date, Transfer From and to fields, then enter in the parts transferred and their amount. When finished, select Save & Close or Save & New (if you have more items to transfer).

 3a.png

Note: Do not worry about class, as that will be assigned when the item is sold.

Unfortunately, people will slip and forget to give you this information quickly. So we need an effective way to notice and correct that behavior. That's where the Quantity On Hand By Site report comes in. What we need to do is create a report that can easily spot negative quantities by warehouse. This will show us anyone that sold an item that was not properly transferred to their warehouse.

1. In QuickBooks select the Reports pull down menu.

1.png 

2. Next, click on Inventory and select Quantity On Hand By Site.

2.png 

Note: Look for items with a negative quantity. If you change the date, be sure to select one that ends in to-date to ensure you are seeing the proper ending balance.

 

1 people found this helpful

Comments

0 comments

Please sign in to leave a comment.