Is there a different way to record inventory in and out, instead of using purchase orders or invoices, or writing a check? Can the numbers be adjusted manually monthly, and then will QB post a journal entry?
Hi Michelle! Thank you for this vid. I am just starting on this Quickbooks journey and I have a question. My manager wants to have 2 comparative report, a monthly and quarterly. Is it possible to actually record monthly inventory and sales transactions without affecting the balance sheet that the Accountant will generate quarterly using Quickbooks Online?
The only way to record transactions without affecting the Balance Sheet would be to record Inventory purchases and sales in a non-Balance Sheet account. This would not be a recommended way to do things.
Thank you for your videos!
Is there a different way to record inventory in and out, instead of using purchase orders or invoices, or writing a check? Can the numbers be adjusted manually monthly, and then will QB post a journal entry?
Hi Michelle! Thank you for this vid. I am just starting on this Quickbooks journey and I have a question. My manager wants to have 2 comparative report, a monthly and quarterly. Is it possible to actually record monthly inventory and sales transactions without affecting the balance sheet that the Accountant will generate quarterly using Quickbooks Online?
The only way to record transactions without affecting the Balance Sheet would be to record Inventory purchases and sales in a non-Balance Sheet account. This would not be a recommended way to do things.