Inventory Valuation in Quickbooks

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Subject Author Date Inventory Valuation in Quickbooks Derek 07-28-2005  RE: Inventory Valuation in Quickbooks Juli 08-03-2005  Re: Inventory Valuation in Quickbooks Glenn Adams [MVP - Retail... 08-03-2005  Re: Inventory Valuation in Quickbooks Derek 08-04-2005
Posted by Derek on July 28, 2005, 8:33 am Please log in for more thread options Can anyone tell me how to properly sync changes in inventory quantity with my Inventory Asset account in Quickbooks? RMS properly debits / credits per each transaction, but i'm uncertain how my initial overall inventory value figure is posted. I had hoped this would occur during the physical inventory process, but this doesn't seem to be the case. Thanks in advance! Posted by Juli on August 3, 2005, 4:04 pm Please log in for more thread options As far as I can tell, the physical inventory process does not integrate with QB. I would also love to know if there is some solution to this that I'm unaware of. "Derek" wrote: > Can anyone tell me how to properly sync changes in inventory quantity with my > Inventory Asset account in Quickbooks? RMS properly debits / credits per > each transaction, but i'm uncertain how my initial overall inventory value > figure is posted. I had hoped this would occur during the physical inventory > process, but this doesn't seem to be the case. > > Thanks in advance! Posted by Glenn Adams [MVP - Retail Mgmt on August 3, 2005, 7:47 pm Please log in for more thread options I don't believe that there's any way to automatically sync Phys. Inventory results to Quickbooks. As far as I know, the only solution would be to make manual adjustment entries in QB. However, when you calculate a Physical Inventory, it DOES display the overall value change being applied, making the value to be posted readily available. Sorry there's not a better answer... It may be possible to create an Add-In to RMS that would extend the accounting integration, but I'm not aware of any that do so. You might want to check http://www.digitalretailer.com for an extensive list of available add-ins from many sources. -- Glenn Adams Tiber Creek Consulting http://www.tibercreek.com glenn@tibercreek.com ---------------------------------------------- Please DO NOT respond to me directly but post all responses here in the newsgroup so that all can share the information > As far as I can tell, the physical inventory process does not integrate > with > QB. I would also love to know if there is some solution to this that I'm > unaware of. > > "Derek" wrote: > >> Can anyone tell me how to properly sync changes in inventory quantity >> with my >> Inventory Asset account in Quickbooks? RMS properly debits / credits per >> each transaction, but i'm uncertain how my initial overall inventory >> value >> figure is posted. I had hoped this would occur during the physical >> inventory >> process, but this doesn't seem to be the case. >> >> Thanks in advance! Posted by Derek on August 4, 2005, 6:32 am Please log in for more thread options Thanks Glenn, I received the same response from MS. This seems to be a bit of an oversight, as in my application being able to generate good financial statements from QuickBooks shouldn't depend on making manual G/L entries every time. While getting the correct numbers from Physical Inventory and/or item reports is easy enough, I'd love it if any change to inventory quantity (via physical or otherwise) would automatically be posted to the inventory asset accounts during batch processing... "Glenn Adams [MVP - Retail Mgmt]" wrote: > I don't believe that there's any way to automatically sync Phys. Inventory > results to Quickbooks. As far as I know, the only solution would be to make > manual adjustment entries in QB. However, when you calculate a Physical > Inventory, it DOES display the overall value change being applied, making > the value to be posted readily available. > > Sorry there's not a better answer... > > It may be possible to create an Add-In to RMS that would extend the > accounting integration, but I'm not aware of any that do so. You might want > to check http://www.digitalretailer.com for an extensive list of available > add-ins from many sources. > > > > -- > Glenn Adams > Tiber Creek Consulting > http://www.tibercreek.com > glenn@tibercreek.com > ---------------------------------------------- > Please DO NOT respond to me directly but post all responses here in the > newsgroup so that all can share the information > > > > > As far as I can tell, the physical inventory process does not integrate > > with > > QB. I would also love to know if there is some solution to this that I'm > > unaware of. > > > > "Derek" wrote: > > > >> Can anyone tell me how to properly sync changes in inventory quantity > >> with my > >> Inventory Asset account in Quickbooks? RMS properly debits / credits per > >> each transaction, but i'm uncertain how my initial overall inventory > >> value > >> figure is posted. I had hoped this would occur during the physical > >> inventory > >> process, but this doesn't seem to be the case. > >> > >> Thanks in advance! > > > Similar Threads Posted Inventory valuation report July 11, 2006, 4:29 pm Stock Valuation May 19, 2006, 6:57 am Physical Inventory and Quickbooks June 5, 2006, 12:06 pm Inventory Sync with Quickbooks June 12, 2007, 2:04 pm Importing Quickbooks Inventory to RMS for First Time December 15, 2006, 12:43 pm RMS - Great Plains stock valuation questions April 7, 2008, 1:48 pm Run a report to get a complete stock valuation for any past date September 18, 2007, 4:02 am 2B-Inventory October Giveaway - Mobile Inventory Management September 1, 2006, 1:58 pm 2B-Inventory Giveaway - Mobile / Handheld Inventory Management October 27, 2006, 2:06 pm Quickbooks and RMS June 29, 2005, 12:41 pm