entering manufactured items

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Subject Author Date entering manufactured items David David 01-16-2008  Re: entering manufactured items Laura 01-16-2008  Re: entering manufactured items Allan Martin 01-17-2008
Posted by David David on January 16, 2008, 3:37 pm Please log in for more thread options hello, i currently use quickbooks pro 2007, and until recently, we have been purchasing wholesale items, and reselling them. this has worked fine for us, however, we are now manufactures of these products now. question: how exactly do we setup the inventoried items now that we no longer purchase them, and how to we track associated expenses to these items? i suppose ideally, we would like to track costs of goods sold for each item produced. thanks in advance :) Dave. Posted by Laura on January 16, 2008, 5:54 pm Please log in for more thread options > hello, > > i currently use quickbooks pro 2007, and until recently, we have been > purchasing wholesale items, and reselling them. this has worked fine for > us, however, we are now manufactures of these products now. > > question: how exactly do we setup the inventoried items now that we no > longer purchase them, and how to we track associated expenses to these > items? i suppose ideally, we would like to track costs of goods sold for > each item produced. > > thanks in advance :) > > Dave. The simpliest model would have you booking your raw materials to COGS. Then periodically do a physical inventory and adjust your Inventory & COGS account for the change in Inventory. Posted by Allan Martin on January 17, 2008, 7:53 am Please log in for more thread options >> hello, >> >> i currently use quickbooks pro 2007, and until recently, we have been >> purchasing wholesale items, and reselling them. this has worked fine for >> us, however, we are now manufactures of these products now. >> >> question: how exactly do we setup the inventoried items now that we no >> longer purchase them, and how to we track associated expenses to these >> items? i suppose ideally, we would like to track costs of goods sold for >> each item produced. >> >> thanks in advance :) >> >> Dave. > > The simpliest model would have you booking your raw materials to COGS. > Then periodically do a physical inventory and adjust your Inventory & COGS > account for the change in Inventory. No the simpliest model is to upgrade to QB Premium so the OP can perform assemblies. > Similar Threads Posted Entering just a VAT invoice August 26, 2006, 1:41 pm Entering Depreciation February 15, 2008, 3:54 pm entering a loss of income November 24, 2007, 9:08 pm Entering a nonprofit donation January 12, 2008, 11:23 am Entering a vendor refund May 28, 2008, 9:09 pm Entering Payables Question June 3, 2009, 1:33 pm Re: Entering in Fixed Asset? Accounting Books? June 26, 2006, 11:13 pm entering discounts AND DISCOUNTED TOTALS on invoices June 5, 2008, 8:52 am UNderstanding receiving and entering bill for inventory February 4, 2009, 6:46 pm Items Vs Expenses Tab August 19, 2006, 2:08 am