Learn QuickBooks Inventory Management

Master QuickBooks Inventory: A Comprehensive Training Course

Unlock the power of QuickBooks for efficient merchandise management with this in-depth training course designed for QuickBooks Desktop for Windows users. Become an expert in buying and selling inventory using QuickBooks, with clear, step-by-step video explanations for every topic.

This course covers everything you need to know about the QuickBooks inventory module, including:

• Setting Up Your Inventory: Learn how to activate the QuickBooks inventory module and understand its impact on your QuickBooks file. Discover how to add non-inventory parts to your items list and when to utilize non-inventory items effectively.
• Recording Sales & Purchases: Master recording both sales on account and for cash, as well as inventory purchases on account or for cash. Learn to utilize purchase order documents and reports to effectively track backorders in QuickBooks. We'll also explore sales orders and related reports.
• Managing Returns: Simplify merchandise returns – both customer returns and vendor returns – with clear, easy-to-follow procedures.
• Leveraging Key Features: Gain a special demonstration on using the “units of measure” feature and “price levels” feature to optimize your inventory management and tailor it to your specific buying and selling processes.
• Inventory Reporting & Troubleshooting: Learn how to utilize inventory reports to gain valuable insights and identify/resolve inventory mistakes. Discover how to adjust inventory for unusual situations.
• Prepaid Inventory: A special method is revealed for handling prepaid inventory transactions.
• Hands-On Practice: Engage in real hands-on practice with buying and selling transactions within QuickBooks.
• Inventory Accounting Concepts: Understand fundamental inventory accounting concepts, including the “Perpetual” inventory method in QuickBooks – explained in plain language, even without prior accounting knowledge.
• Cost of Goods Sold: Get an overview of other relevant accounting theory, such as how QuickBooks Desktop calculates the changing purchase cost of merchandise using the “weighted average” costing method. We'll also explore the “periodic” inventory method and how to make your cost of goods sold adjustment to determine your gross profit.

Each lecture includes follow-along files to facilitate step-by-step learning, making QuickBooks easy and enjoyable to master.

While this course focuses on QuickBooks Desktop for Windows, the principles apply to QuickBooks Online, QuickBooks for Macintosh, and QuickBooks Enterprise solutions.

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