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Call QuickBooks Support and know how to turn on Advanced Inventory in QuickBooks

You can track inventory stored at different sites or locations when you turn on Advanced Inventory. For instance, In different areas within a warehouse, at consignment locations or at outside manufacturers you might store inventory at different warehouses and in multiple trucks. You need to set up Advanced Inventory correctly to make sure your quantity on hand by site is accurate.

Please Note: Before proceeding, you MUST turn on Advanced Inventory. In Turn on Advanced Inventory, follow the steps to do so.

Step 1: Setting up inventory sites

Telling QuickBooks Desktop where you track inventory is the first step to track multiple inventory sites. These locations are called sites. Sites can be actual warehouses where you want to track inventory quantities having different addresses, trucks, piles, staging areas, or any other locations large or small.

Perform the steps given below, to do this task:

  • Select Inventory Site List from the Lists menu.
  • Click on the Site button and then select New.
  • Now, you need to enter the appropriate information.
  • Until all your sites are set up, repeat Steps 1 to 3.

You can proceed to Step 2 once you have completed this step, in case you are changing the method of tracking multiple inventory sites or proceed to Step 3 straightaway, in case you need to set reorder points for each site. In none of the above cases, proceed to Step 4.

Step 2: Converting from your previous method of tracking inventory sites

  • To track multiple inventory sites, you may currently use a different method (with QuickBooks Desktop or software). You need to ensure that your inventory numbers are correct before you use multiple inventory sites so you can easily transition to using Advanced Inventory.
  • You may need to take additional steps depending on you mood to switch to Advanced Inventory. Find your current method from the list, for detailed instructions. Look at the option “You use another method” If it is not listed.
  • Outside of QuickBooks (for example, in Excel or different software), you track inventory at multiple sites.
  • To track how much inventory you have at each site, you use different software with this method.

Perform the steps below to switch to the Advanced Inventory method:

  • Run a report using your other software to identify the quantity on hand at each site.
  • You need to set your inventory items in QuickBooks if you haven’t set them up.
  • For each site, you create separate items (sub items or assemblies)
  • To distinguish between items at different sites, , you use a naming method or structure with this method. For instance, you use 3 items to represent the same item located at each warehouse if you have 3 warehouses.

Follow these steps in case you use this method to switch to the Advanced Inventory method:

  • These steps given below are complicated and need good working knowledge of the QuickBooks Software. Consider getting help from us, contact QuickBooks Support.
  • For each item at each site, calculate the quantity on hand. You should also be aware of the global QOH (the total quantity across all sites). Print a report from QuickBooks or write this number.
  • Select “Clean up”, to clean up your item list. For each item you sell you need to have only one item on the list
  • Now, you need to decide what all items are to be used in the future. In QuickBooks Desktop, you only need one item. Suppose you choose WH1 Widget 1 in the example above.

For the redundant items you won’t use, adjust the quantities to zero. For the item that you will use, make the corresponding increase. In the example:

  • From 20 to 0, decrease the QOH for WH2 Widget 1.
  • From 40 to 0, decrease the QOH for WH3 Widget 1.
  • For WH1 Widget 1, increase the QOH from 100 to 160.

The net effect on the adjustment account after making all adjustments should be zero. However, the net effect won’t be zero if each item that represents the same item at different locations has different average costs. To handle this problem there are two ways.

In case of small value differences.

Contact us. Create a special inventory adjustment account for this transaction if the value differences are small and then make your adjustment. Now, ask your accounting professional  to write off this amount.

  • If case of significant value differences
  • For the redundant items, adjust the quantity to 0. For the next step, note the value of these adjustments.
  • For the items that you are keeping, adjust the quantity. By the amount you noted in the step above increase the value of the adjustment.
  • Select Adjust Quantity/Value On Hand from the Inventory menu
  • Select Quantity and Total Value from the Adjustment Type drop-down.
  • Select the account you normally use from the Adjustment Account drop-down.
  • Select the inventory site set by default at the time of turning on Advanced Inventory from the Inventory Site drop-down.
  • Click on Add Multiple Items and then select the items that representing the same item across different sites.
  • Enter 0 in the New Quantity column in the rows that contain the redundant items.
  • For all these redundant items, calculate the sum of the Qty Differences.
  • Add the quantity from step 7 in the Qty Difference column (as a positive number) in the row that contains the item you are keeping.
  • Set all values to 0 in the New Value column.
  • In the bottom right of the window, note the Total Value of Adjustment amount.
  • Enter the amount you noted in step 10 in the New Value column in the row that contains the item you are keeping. The Total Value of Adjustment would be brought down to zero now.
  • Click on Save & New and then for the next set of items, repeat these steps.
  • Hide or make inactive the redundant items that don’t want to use (in this example, WH2 Widget 2 and WH3 Widget 3) please Note: You can now merge the redundant items. You lose any historical information about sites/locations if you merge items.
  • To remove any reference to the site, rename the remaining items.
  • To track inventory sites/location, you use class tracking.
  • To represent each site or location you use classes with this method. Now you need to classify inventory purchase and sales transactions.
  • Changing the method is easy. Follow these steps given below and simply stop using this method.
  • At each site, calculate the quantity on hand (QOH) .

Clean your item list:

  • In QuickBooks, to match each inventory part you buy or sell, you should have one inventory part or assembly part item set up.
  • Across all sites, this inventory part should reflect accurately the global QOH for that item.

Please note: Income and expenses are not classified with advanced inventory. It only helps in tracking inventory. To classify “non inventory related” income and expenses, you should still use class tracking  at different locations.

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Using another method:

  • To track multiple inventory sites if you’ve used a different method, make sure to:
  • At each site, figure out the quantity on hand (QOH).
  • (This is Optional) You must first clean up your item list if your current method uses an item list:
  • In QuickBooks, to match each inventory part you buy or sell, you should have one inventory part or assembly part item set up.
  • Across all sites, this inventory part should reflect accurately the global QOH for that item.

Step 3: (This is Optional) Setting reorders points for each site

You can track site-specific reorder points with Advanced Inventory for each item. For each site, it means you can have a different reorder point, and you are warned by QuickBooks Desktop when you’re running low at a specific site.

Please note: To calculate a global reorder point, that site reorder points do not “roll up” (add up). For each item, you must set the global reorder point.

  • Select Inventory Site List from the Lists menu.
  • Select Set Reorder Points from the Activities drop-down.
  • For site drop-down arrow, click the Set reorder point and then choose the site that you wish to set a reorder point for.
  • Enter the reorder point for each item in the Site Reorder Point column.
  • Select the Set reorder point for drop-down arrow to set reorder points for other sites and then click on another site. Until reorder points are set for all sites, repeat the process.
  • Click on OK.

Step 4: Transferring opening quantities of items to each site

QuickBooks Desktop prompted you to begin with a single temporary starting site, when you turned on Advanced Inventory. After which QuickBooks Desktop displays that your entire inventory is stored at a single location.

Now you may transfer your inventory from the starting site to their actual sites. You need current inventory counts for each site to do this step.

Follow the steps to enter a new transfer for each site:

  • Select Transfer Inventory from the Inventory menu.
  • Enter the date of the transfer in the Date field. This is supposed to be the date on which you began tracking multiple sites.
  • Enter the appropriate transfer number in the Reference No. field. For these transfers, we recommend “setup1,” “setup2,” and so on.
  • Select your temporary inventory site from the Transfer from drop-down.
  • Select the To drop-down and then click on the actual inventory site.
  • To transfer to the site, select the inventory items :

To choose individual items:

  • In the Item column, select the drop-down.
  • Choose an inventory item.
  • To choose multiple items:
  • Click on Find & Select Items.
  • Select Add Selected Items, after checking the items that you wish to transfer .
  • Enter the number to transfer for each item in the Qty to Transfer column.
  • (This is Optional) Enter the reason in the Memo field for this transfer such as “Transfer opening quantity to site.”
  • (This is Optional) If you need a printed copy of the transfer select Print.
  • Click on Save & New.
  • For each inventory site, repeat these steps.
  • Click on Save & Close when finished.
  • Pro-tip – You can save time by duplicating the inventory transfer if you want to transfer the same items to multiple sites:
  • Select Transfer Inventory from the Inventory menu.
  • Until you find the transfer you want to duplicate click on Previous.
  • Click on Edit and then select Duplicate Inventory Transfer.
  • As required, change the details of the transfer.
  • Click on Save & New. You can repeat these steps for each inventory site if necessary.
  • When finished click on Save & Close.

Step 5: (This step is optional) to your printed sales and purchase forms, adding a site column

  • On all forms (invoices, purchase orders, and so on) you see onscreen, a site column appears. However, when you print the form, this column doesn’t appear.
  • This may cause issues if:
  • You want to print the site on internal documents for e.g picker lists or work orders.
  • Your customer wants to know the site.
  • You can customize your form template to work around this so you can add or remove columns:
  • Open the sales/purchase form.
  • In the Formatting menu select Customize Data Layout.
  • Select the Columns tab in the Additional Customization window.
  • Put a check mark on the under the Print column for Inventory Site.
  • Click on OK.

Step 6: Adding a site column to memorized transactions which includes inventory

If you have memorized transactions that include inventory part items then this final step is necessary. If so, to enter the site information you should edit the memorized transactions.

To know more on how to turn on Advanced Inventory in QuickBooks desktop, call on our QuickBooks Support Number. You can also write to us at support@quickbooksupport.net . For more information visit – www.quickbooksupport.net.

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