Brief Introduction
Learn Every Possible Thing That You Could Ever Need When Managing Inventory In QuickBooks OnlineDescription
This QuickBooks instructional course will give you everything you need to know about using the inventory section in QuickBooks Online Plus Version, Accountant's edition or QBO Advanced. These are the only subscriptions that track inventory quantity. You will be a great expert in everything that relates to buying and selling or generally managing merchandise when using QuickBooks Online. These videos will give you the best possible explanation for every topic covered.
You will learn about the list of products and services in QuickBooks online. This will enable you to add “non-inventory” parts to the items list and when to use non-inventory parts. It shows how to activate the QuickBooks inventory module for tracking quantities on hand for your merchandise. Every conceivable inventory transaction is covered in this course. This QuickBooks tutorial shows how to record sales both for credit with invoices and for cash as well as purchases of inventory "for credit with vendor bills" or for cash. It will show how to use the purchase order feature and purchase order reports to track the back orders in QuickBooks Online.
Inventory returns are transactions that many people have trouble understanding. This course will make procedures for customer returns as well as returns to your vendors in a clear and simple way.
You will see how to use inventory reports and how to find and fix inventory related mistakes. You will learn how to adjust inventory for uncommon situations. You will also learn my expert method, created by me, to handle PREPAID INVENTORY transactions.
This QuickBooks Online training course also teaches some basic accounting inventory concepts; All accounting programs use the "Perpetual" inventory method of inventory costing. It will be clear in common sense terms without any accounting knowledge. You will also receive an overview of other accounting theory that relates to inventory. You will leanr things like how QuickBooks Online will calculate the changing purchase cost of merchandise using the “first in , first out” (F.I.F.O.) costing method. You will also learn, in the best possible way, the other method of inventory costing, the “periodic” inventory method. So, if you need to, use the periodic inventory method and help you make your cost of goods sold adjustment to find your gross profit.
The course has been made with QuickBooks Online Plus Version. However, the ideas apply to QuickBooks online accountant and Advanced.
I'm always available if you have any questions or concerns. I hope you learn well and enjoy the course!
-Mark
Requirements
- Requirements
- Basic Quickbooks Online Transactions Knowledge Or Experience
- Elementary school level math skills
- Basic computer skills
Knowledge
- Every possible transaction and situation that could arise when managing inventory in quickbooks online
- How to garantee that your inventory records are always correct
- 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
- Record Purchase And Sales Returns
- Understand How Quickbooks Online Calculates Cost Of Goods Sold
- Understand The "First-In_First_Out" (F.I.F.O.) Costing Method
- 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
Mark Smolen
4.6 Raiting
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