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Managing Inventory in QuickBooks Desktop

QuickBooks 30-day free trial + 30% off for 12 months: https://quickbooks.intuit.com/partner... (30% discount offer to expire 9/30/2021) This video (part 1) is meant to cover the basics in Inventory for QuickBooks Desktop, if you want to take an in-depth course on this topic, join my Advanced QuickBooks Desktop Course for $500: https://hectorgarcia.teachable.com/p/... Topics contained in this video: 00:00:00 – Intro 00:02:33 – Avalara (sponsor) 00:03:53 – Learning objectives 00:04:22 – Table of contents 00:04:33 – Item types 00:05:03 – Create invoice (how QuickBooks inventory part and non inventory part affects your accounting) 00:05:33 – Create a new item (step by step) (non inventory part) how it works 00:08:15 – Create a bill (vendors, enter bills) (item tab) 00:09:54 – Item list 00:10:02 – Edit item 00:11:56 – Separation between revenue and cost of goods sold 00:12:29 – Balance sheet standard compared with profit and loss 00:13:06 – Item list, modify item (inventory part) (conversion) (converting non inventory part to inventory part) how it works 00:14:56 – Changes on profit and loss and balance sheet 00:15:51 – Quick poll (question) 00:17:19 – How to group inventory for valuation purposes (multiple inventory assets accounts) (item list) (create account type) (chart of accounts) (classify) (example) 00:19:04 – Organizing your item list 00:19:34 – Item list (group items) (sub items) (group sub items using custom fields) (set up custom fields) how it works (example) 00:22:17 – Customize columns and how it works 00:24:43 – Invoice (find and select items) 00:25:22 – Trick to insert item (searching item) (invoice) (shortcut) 00:27:05 – Inventory center and how it works (only available on Premier or Enterprise edition) 00:30:06 – Units of measure and how it works (single units of measure) (multiple units of measure) (create purchase order) (example) 00:38:16 – Quick tip (lb, kg, convert measure) (google) 00:40:17 – Manufacturing (Premier and Enterprise) (inventory assembly items, bill of materials, build assemblies, where used component replacement, raw materials/finish goods, create inventory assembly item, create invoice) how it works (step by step) (example) 00:50:34 – QuickBooks Enterprise component replacement and how it works (where used assemblies) 00:55:01 – Non posting transactions in Pro (estimates, purchase orders, estimate to invoice workflow, pending invoices) 00:55:16 – Non posting transactions in Premier and Enterprise (sales orders, sales order fulfillment worksheet, S.O to P.O workflow) 00:55:44 – Posting transactions (all editions) (decreasing inventory) (increasing inventory) 00:56:02 – Inventory adjustments 00:56:10 – Inventory reports 00:56:35 – What QuickBooks cannot do with inventory 00:57:38 – Inventory (adjust quantity/value on hand) (modify units report) how it works 00:58:35 – Profit and loss and balance sheet 00:59:12 – Inventory add-ons for QuickBooks Desktop 00:59:25 - links Slides: http://bit.ly/QBINV Other Inventory Videos: -Avg. Cost vs. FIFO In QuickBooks    • Average Cost vs. FIFO Cost with Quick...   -Tracking Landed Cost    • Landed Cost in QuickBooks Desktop Pro...   -Manage Sales Tax, Surtax, and Use Tax in QuickBooks    • Manage Sales Tax, Surtax, and Use Tax...   -QuickBooks Online vs. Desktop Inventory Pros and Cons    • Pros and Cons of QuickBooks Online vs...   -Enhanced Inventory Receiving Workflow    • NEVER RECOMMENDED: QuickBooks Enterpr...   -QuickBooks Enterprise Manufacturing Workflow    • QuickBooks Enterprise Advanced Invent...   -QBES Advanced Inventory and Advanced Pricing:    • QuickBooks Enterprise Advanced Invent...   -Dealing with Vendor Pre-Payments:    • Managing Pre-payments to Vendors in Q...   Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting (rates vary fro $195 to $545) for first consultation depending on length and consultant required. E-mail Hector your questions [email protected] Purchase QuickBooks DESKTOP: http://www.quickbooksprice.com