How do I create items for inventory?

Legacy KB ID: 426

Question

How do I create items for inventory?

Answer

Use inventory part items to represent materials or parts you buy, track as inventory, and then resell. Through inventory part items, you can keep track of how many items remain in stock after a sale, how many items you have on order, your cost of goods sold, and the value of your inventory. Note that QuickBooks does not track inventory through the manufacturing process. Important: Do not create separate inventory part items for sales and purchases. You must use the same inventory part item on both sales forms and purchase orders to keep the inventory accurate. To create inventory items: 1. From the QuickBooks Lists menu, choose Item List. 2. Click the Item button at the bottom of the window and choose New to open the New Item window. 3. From the Type drop-down list, select Inventory Part. If you don't see Inventory Part in the list of item types, inventory tracking is not turned on. To turn it on, do the following: e. From the QuickBooks Edit menu, choose Preferences. f. Use the scroll box on the left side of the Preferences window to find the Purchases & Vendors icon and click to select it. g. Click the Company Preferences tab and select the Inventory and purchase orders are active checkbox. h. Click OK. 4. In the New Item window, enter an item name or number in the Item Name/Number field. What you enter here appears on the drop-down list of items that is included on QuickBooks sales and purchase order forms. Enter a name or number that will help you distinguish this item from all the others on the list. 5. If this item is a subitem of an existing item, select the Subitem of checkbox and specify the parent item's name. 6. Enter the appropriate information in the Purchase Information fields. 7. Enter the appropriate information in the Sales Information fields. (The Sales Information fields contain information that you will show to customers.) 8. Enter information in the Inventory Information fields for easy reordering of stock. 9. (Optional) Click Custom Fields to fill in or define custom fields for this item. Click OK to record the data you entered in the Custom Fields window. 10. Click OK in the New Item window to record the item. 11. Repeat Steps 2 through 10 for each additional inventory item you want to create.

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