Hi, this is Jason from the QuickBooks team.
QuickBooks Desktop helps you manage purchasing
inventory with purchase orders, bills, and stock status reports.
First, you run reports to determine what you need to order.
Next, record a purchase order for inventory.
When your vendor ships the items,
you receive the items in QuickBooks with a bill.
When you're ready to pay the bill, you record the bill payment.
First, run the Inventory Stock Status by Item report.
Select Reports, Inventory Inventory, Stock Status by Item.
You'll see a list of your inventory items
and how many of each item you have on hand.
If any items show a low inventory, it's time to order more.
Select purchase orders to start the purchase process.
Purchase orders tell your vendors which items you want to order
and help you track the details of which orders you send to vendors.
They're also non-posting entries,
which means they don't affect your account
balances or inventory quantities.
First, enter the vendor you order from.
QuickBooks automatically enters
your company's address as the ship to address.
If you ship directly to your customer, enter
the customer's address instead.
Now select the items tab and enter the details of what you order.
First enter the item's name and how many you want to order.
If you order these items for a specific job,
select the customer or job for each line on the purchase order.
When you enter all the details, select print to print
the purchase order or select email to send the P.O. to your vendor.
Once the vendor receives your purchase order,
they fill the order and ship it to your address.
The next step is to receive the inventory.
If the vendor sends only your items but doesn't send
the bill yet, select Receive Inventory without Bill.
You can check the bill received box when the bill arrives.
Or if your vendor sends the items and the bill together,
select Receive Inventory with Bill.
Enter the vendors name and press tab on your keyboard.
QuickBooks asks if you want to receive
against the open purchase orders for the vendor. Select yes.
From the list of outstanding purchase orders,
select the purchase order to add to the bill.
You can even select more than one
if the vendor sends multiple orders together. Select OK.
QuickBooks copies the info from the purchase order to the bill.
If you receive a partial order, just adjust the quantities on the bill.
If the vendor charges you for shipping and handling.
You can enter the charges on additional lines.
Enter the bill number and select save and close.
This increases your inventory quantity in QuickBooks
and shows you now owe your vendor for the purchase.
Run the Inventory Stock Status by Item report again
to see the updated inventory quantities.
When you're ready to pay your inventory bills, select pay your bills.
Select the bills you'd like to pay,
QuickBooks will enter the bill total in the amount to pay field.
If you only pay a part of the bill
just into the amount you want to pay instead.
You could also apply any early
pay discounts or use any credits you may have with the vendor.
If you pay the bill with a credit card, select the credit card method
for all other types of payment,
including online payments with your debit card, select check.
Select Pay Selected Bills.
If you choose to assign check numbers, enter
the details and select OK.
You see a summary of the bills you just paid.
For more info on how to record and pay bills, check out the
video at the end of this one.
Now you're ready to receive and pay for inventory.