Brief Introduction
Learn Every Possible Merchandise Inventory Situation In QuickBooksDescription
This QuickBooks training course will give you everything you need to know about using the inventory module in QuickBooks Accounting desktop versions for windows. You will be an absolute expert in everything that relates to buying and selling merchandise when using QuickBooks. These videos will give you the clearest possible explanation for every topic covered.
You will learn in QuickBooks, how to add “non-inventory” parts to the items list and when to use non-inventory parts. It teaches how to activate the QuickBooks inventory module and what inventory activation does to the QuickBooks file. Every possible inventory transaction is covered in this course. This QuickBooks tutorial shows how to record sales both "on account" and for cash as well as purchases of inventory "on account" or for cash. It shows how to use the purchase order documents as well as purchase order reports to track back orders in QuickBooks. Sales orders and related reports are also discussed and demonstrated.
Merchandise returns are transactions that many people have trouble understanding. This course will make procedures for customer returns as well as returns to vendors perfectly clear and simple. You will receive a special demonstration on how to use the ‘units of measure” feature as well as the “price levels” feature so you can maximize the use of your inventory module and manage everything exactly how you choose to buy and sell your merchandise.
You will learn how to use inventory reports and how to find and fix inventory mistakes. At the end of the course, you will learn how to adjust inventory for unusual situations. You will also be shown a SPECIAL METHOD created by me to handle PREPAID INVENTORY transactions. The class gives real hands on practice with buying and selling transactions in QuickBooks.
This QuickBooks instructional series even teaches some basic accounting inventory concepts; specifically, the "Perpetual" inventory method of inventory valuation in QuickBooks. It will be understandable in common sense terms without accounting knowledge. You will also get an overview of other accounting theory that relates to inventory such as how QuickBooks Desktop will calculate changing purchase cost of merchandise using the “weighted average” costing method. You will also get the best explanation and demonstration of the other method of inventory coting, the “periodic” inventory method. These demonstrations will give you the ability to use the periodic inventory method and help you make your cost of goods sold adjustment to find your gross profit.
There are 'follow along files” for each lecture so you can follow step by step. This makes learning QuickBooks Easy and fun.
The course is made with QuickBooks desktop for windows. However, the ideas apply to QuickBooks online as well as QuickBooks for Macintosh and Enterprise solutions.
I'm right here for you if you have any questions or need support. I hope you learn well and enjoy the course!
-Mark
Requirements
- Requirements
- Elementary school level math skills
- Basic computer skills
- Basic understanding of buying and selling
Knowledge
- Perform Any Task Related To Managing Inventory / Merchandise Records
- Record Any Inventory Related Transacion
- Interpret Inventory Reports For Optumization
- Find And Fix Mistakes Related To Inventory
- Use Different Inventory Item Types In The Right Situation
- Find The Accounts In The Chart Of Accounts That Change When Inventory Changes
- Adjust Inventory For Unusual Situations
- Track Inventory Quantity After Each Purchase, Sale Or Return
- Make Item Receipts And Enter Related Bills
- Record Purchase And Sales Returns
- Use Unit Of Measure Feature Of Inventory
- Use The Price Levels feature
- Understand How Quickbooks Desktop Calculates Cost Of Goods Sold
- Understand The Weighted Average Costing Method
- Record Purchase And Sales Returns Of Inventory
- Record Advanced Payments And Prepaid Inventory
- Use The Periodic Inventory System With Quickbooks
- Make Inventory Monthly Adjustments
- Calculate Monthly Cost Of Goods And Gross Profit Periodic Adjustment
- Record And Track Prepaid Inventory
Mark Smolen
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