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Subject Author Date
entering manufactured items David David 01-16-2008
Posted by David David on January 16, 2008, 3:37 pm
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 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
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> 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
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>> 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.



>


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