QuickBooks Online Prepaid Inventory Mark Smolen Method скачать в хорошем качестве

QuickBooks Online Prepaid Inventory Mark Smolen Method

In this learn QuickBooks Online Inventory training tutorial, you will learn how deal with prepaid inventory. Any time you purchase merchandise and pay more than just a few days in advance before receiving the goods. If you pay very early, the account that represents your pre-paid inventory should be separate from the normal inventory asset account. It is also a current asset. However, since NO accounting program has a feature that tracks specifically, pre-paid inventory, you must do the “work around” shown in this video in order to track the prepaid inventory details in Quickoosk Online. This involves making an account for prepaid inventory. To make this work, the prepaid account must be a “bank” type of account. This is because this ‘work around” will use the “checks window” or the “expenses window to transfer the inventory from prepaid to inventory asset upon receiving the goods. The quantity on hand of your products should NOT increase until the items are physically received and available for sale to the customer. Since the inventory asset account is matched with the “inventory valuation detail” report for quantities of each item of goods, the prepaid inventory account has no separate report that shows quantities and individual item values. You MUST use the Memo field of the account to record item details. This is the closest any accounting program can come to managing details of purchased merchandise before receiving the items. For refunds, use the deposit window exactly the way you used the checks window when recording prepaid inventory transactions. This very special method that I invented for my clients in the late 1990’s will work best. I hope it’s ok, therefore, to call it the Mark Smolen method of prepaid inventory. This QuickBooks YouTube Playlist will teach you every possible transaction type or issue that you could possibly have when managing merchandise inventory using QuickBooks Online. You will have total control over inventory quantities as well as your inventory work flow from purchases to warehouse storage to sales. All quantities will be tracked and all questions about non-inventory parts and 2 sided items will be answered. After watching this playlist, you will be able to guarantee that every aspect of your merchandise inventory records in QuickBooks Online will be correct to the last detail. You will master inventory reports and adjustments and always know what to do when receiving merchandise or selling the goods you trade. Other Related Videos 👇 See Every Topic In This QuickBooks Online Inventory Management Playlist    • QuickBooks Online Merchnadise Invento...   See This Topic In Quickbooks Desktop    • Purchase Deposits In QuickBooks Pre-p...   👉Subscribe for more videos: http://bit.ly/thequickbooksdude ➡Follow us on social media:   / certifiedquickbookstraining     / quickbooksforlandlords   Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website. ➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course? Contact Mark directly. https://marksmolen.com https://quickbooksforlandlords.net #quickbooksonlineprepaidinventory #quickbooksonlineadvancedpayments #quickbooksonlineitemreceipts