THANK YOU!!! I'm yelling because finally I get an answer. I have been searching QBO help and search sections for at least 30-minutes. You answered my questions and helped me get my inventory list uploaded. YES!!! ☺☺☺
Thanks Hector, this was helpful. I exported the products list & did an inventory count. Now I am trying to upload it & all to the column "Names" (name,sku,type,sales description...etc) looks red & seem to be blocking the import. This is the same list that I exported & I only have updated the G/L's & counts. Is it warning me that the part is already there & its trying to duplicate it? Brian
Thank you! Excellent recap for me since I had not done this in a while. If I leave out adding nothing to the Inventory Asset, Quantity on Hand and Re-Order columns before I import to QB, will it still work? I do not want to track their products as inventory since they truly do not carry inventory of any of these products. The purpose of adding the products is to include them on a Sales Receipt as all their products are made to order at the time a customer places an order.
Hi Hector - i just imported the stocks/services in my QB online.. And it was great.. Thank you.. The problem was - when i just create a reports - suddenly there was an Inventory Shrinkage.. Why like that? Can you advise? And there was a double entry in Inventory Adjustment? Do you think where do i got wrong? Thank you
You need to check to see if there are inventory adjustments created. Its not “shrinkage” per se.. its just that it picked that account as the adjustment
Another question; why there werea double entry on the stocks item - when imported the list if items.. i just make the double entry inactive but still it reflects on the Trial Balance the amount.. Thanks
This is ONLY for a retail type of company. Correct? There is no concept of assemblies in QBO for say a manufacturing firm. Are there any third-party QBO partners who you recommend that provide ERP or more advanced inventory capabilities?
Hector, I am having trouble with an items import. The name column states I have already used the name. I think it is because of the sub categories. I have 972 items so it would be a big chore to edit them all. Any suggestions? I have checked as ther is no space between the name and colon.
Please can you explain why you are using the COGS account in the journal entry? I understand why you are getting rid of opening balance equity but not sure why COGS.
Thanks but I am still confused because you are reducing cogs and then when you actually sell all inventory it will create a net zero? Would Owners equity be better?
Just to be clear you have a positive opening balance equity for inventory. Therefore you debit obe and credit COGS? I thought inventory adjustments are against an inventory asset and cogs.
Hi Hector, Thanks for the amazing content. I notice that the QuickBooks Online Inventory Import Excel File does not have a "Brands" nor an "EAN" (barcode) field. I am planning on importing approximately 100 brands into QB and I really need these fields. Can I create them somehow or is there a workaround? Kind rgds Tim
Thats right.. QB is not good for that type of stuff. The closest thing would be Category for brand and SKU for Bardcode. But either way, there is no barcode functionality inside QB online
@@HectorGarciaCPA Also, I notice that the inventory import file doesn't have the Category or Preferred Supplier columns. Does this mean I have to first import my items and then manually fill out this information on each item one by one? This is not very time efficient... Is there any way to add the Category and Preferred Supplier columns into the import file?
Hi Hector, If I am using POS system for sale, and entering inventory items both in POS and QuickBooks, when we sale items, the inventory in POS system will go down how about the inventory in quick book? how do we update the inventory information in quick book?
I have currently 300 products in my inventory.. n I need to update more 100 products can I use this method or it will delete my current inventory or it will just update new inventory with existing inventory
Hi, i am not sure whats the concern with having the amount in the opening equity balance. i guess it will stay there forever vs Clients open balance will go down when they pay?
Hi! Thanks for the video! Question - once you have product uploaded with its inventory, how do you upload updates on the product already in QBOA? It is not working for us. The inventory upload works for first time set up of a product, but when you have more of the same product coming in, we are told that has to be entered manually and cannot be uploaded. Is this true?
if i want to import 100 new product in an on going inventory will it delete my current inventory or it will just update new inventory when i use the import function of quick book online.
Hello, another question: Can i import excel file for example - there were blank data in SKU, and re-order point? can i still import it without error? thanks
Hi, Sir Hector. I am a bit confused. I imported my inventory items with beginning balances in it. However, when I look at the report, it says that the inventory beginning balance is 0. May I ask what could be the problem? Could chart of accounts affect it? Since I also imported my chart of accounts. Thanks! Have a great day.
Is there a way to import into QB with the product have a preferred vendor? So if there is a column in excel of preferred vendor will it transfer to QB?
Buenos dias, tengo una pregunta, la compania en que trabajo ya tiene algunas productos en inventario pero se quiere agrehar otros pero que el inventario sea 0 se puede hacer eso ?
THANK YOU!!! I'm yelling because finally I get an answer. I have been searching QBO help and search sections for at least 30-minutes. You answered my questions and helped me get my inventory list uploaded. YES!!! ☺☺☺
Awesome
How to create excel file for Non-Inventory or import Non-Inventory.?
Please show.
Thanks Hector, this was helpful. I exported the products list & did an inventory count. Now I am trying to upload it & all to the column "Names" (name,sku,type,sales description...etc) looks red & seem to be blocking the import. This is the same list that I exported & I only have updated the G/L's & counts. Is it warning me that the part is already there & its trying to duplicate it? Brian
You cannot “upload” items that already exists
Thank you! Excellent recap for me since I had not done this in a while. If I leave out adding nothing to the Inventory Asset, Quantity on Hand and Re-Order columns before I import to QB, will it still work? I do not want to track their products as inventory since they truly do not carry inventory of any of these products. The purpose of adding the products is to include them on a Sales Receipt as all their products are made to order at the time a customer places an order.
It will work… just enter zero for QTY
@@HectorGarciaCPA Thank you! Appreciate your confirmation. 😊
I love all your videos. You are a genius! I've learned so many tricks from you!
Awesomeness
Hi Hector - i just imported the stocks/services in my QB online.. And it was great.. Thank you.. The problem was - when i just create a reports - suddenly there was an Inventory Shrinkage.. Why like that? Can you advise? And there was a double entry in Inventory Adjustment? Do you think where do i got wrong? Thank you
You need to check to see if there are inventory adjustments created. Its not “shrinkage” per se.. its just that it picked that account as the adjustment
Another question; why there werea double entry on the stocks item - when imported the list if items.. i just make the double entry inactive but still it reflects on the Trial Balance the amount.. Thanks
This is ONLY for a retail type of company. Correct? There is no concept of assemblies in QBO for say a manufacturing firm. Are there any third-party QBO partners who you recommend that provide ERP or more advanced inventory capabilities?
Correct.
If you want manufacturing, you should use QuickBooks Enterprise or add on an app to QBO, like: SOS Inventory or Locate Inventory
Hi Hector. Are you aware of any way to import bundles and bundle components into QBO?
I am not :(
Any experience using quickbooks for nonprofit donations?
Hector, I am having trouble with an items import. The name column states I have already used the name. I think it is because of the sub categories. I have 972 items so it would be a big chore to edit them all. Any suggestions? I have checked as ther is no space between the name and colon.
Please can you explain why you are using the COGS account in the journal entry? I understand why you are getting rid of opening balance equity but not sure why COGS.
Its because all adjustments to inventory are COGS, is an accounting rule
Thanks but I am still confused because you are reducing cogs and then when you actually sell all inventory it will create a net zero? Would Owners equity be better?
@@RickyS-ns4il equity is never better….
Just to be clear you have a positive opening balance equity for inventory. Therefore you debit obe and credit COGS? I thought inventory adjustments are against an inventory asset and cogs.
Hi Hector,
Thanks for the amazing content.
I notice that the QuickBooks Online Inventory Import Excel File does not have a "Brands" nor an "EAN" (barcode) field.
I am planning on importing approximately 100 brands into QB and I really need these fields.
Can I create them somehow or is there a workaround?
Kind rgds
Tim
Thats right.. QB is not good for that type of stuff.
The closest thing would be Category for brand and SKU for Bardcode.
But either way, there is no barcode functionality inside QB online
@@HectorGarciaCPA Thanks for your reply. I will use your suggested method to workaround this issue.
@@HectorGarciaCPA Also, I notice that the inventory import file doesn't have the Category or Preferred Supplier columns.
Does this mean I have to first import my items and then manually fill out this information on each item one by one? This is not very time efficient...
Is there any way to add the Category and Preferred Supplier columns into the import file?
Hi Hector, If I am using POS system for sale, and entering inventory items both in POS and QuickBooks, when we sale items, the inventory in POS system will go down how about the inventory in quick book? how do we update the inventory information in quick book?
Just need to do a journal entry to adjust for inventory asset and COGS in a daily or weekly basis.
I have currently 300 products in my inventory.. n I need to update more 100 products can I use this method or it will delete my current inventory or it will just update new inventory with existing inventory
You need a 3rd party app to do an update
Is there a easier way to do this manually and individually?
Hi, i am not sure whats the concern with having the amount in the opening equity balance. i guess it will stay there forever vs Clients open balance will go down when they pay?
Open bal equity is not an accounting concept, is a QuickBooks fiction. Thats the concern
@@HectorGarciaCPA I agree but I can't credit it towards COGS (like you did in this vid) untill I actually sold them.
@@jaysam4411 thats true. You might need to adjust against retained earnings
Hi! Thanks for the video! Question - once you have product uploaded with its inventory, how do you upload updates on the product already in QBOA? It is not working for us. The inventory upload works for first time set up of a product, but when you have more of the same product coming in, we are told that has to be entered manually and cannot be uploaded. Is this true?
You can upload once…. Any other uploads would be to replace description, cost, and price. Quantities can not he uploaded once the items exisit
if i want to import 100 new product in an on going inventory will it delete my current inventory or it will just update new inventory when i use the import function of quick book online.
If they are the same name, it wont import… only new items
Hello, another question: Can i import excel file for example - there were blank data in SKU, and re-order point? can i still import it without error? thanks
I dont know if all thse datapoints are available
@@HectorGarciaCPA What do you mean? i cannot import stocks/inventory if it not complete? Thanks
@@pacificaccounting8535 i think reorder points cant be imported
Hi, Sir Hector. I am a bit confused. I imported my inventory items with beginning balances in it. However, when I look at the report, it says that the inventory beginning balance is 0. May I ask what could be the problem? Could chart of accounts affect it? Since I also imported my chart of accounts. Thanks! Have a great day.
Maybe they were imported with the cost at zero
@@HectorGarciaCPA I changed the as of date from 1/1/22 to 12/31/21 and the balance reflected. Hehe
Is there a way to import into QB with the product have a preferred vendor? So if there is a column in excel of preferred vendor will it transfer to QB?
Yes
Can you track inventory QBO with multi-currency at different locations
No
@@HectorGarciaCPA Can you do PO's in multi currency and the QBO converts inventory to dollars?
@@jennaferthorpe1869 yes, thats possible
really helpful for newbies.
Buenos dias, tengo una pregunta, la compania en que trabajo ya tiene algunas productos en inventario pero se quiere agrehar otros pero que el inventario sea 0 se puede hacer eso ?
Si.. puedes agregar artículos de inventario nuevo. Pero en cero, no hay problema
hi, if i have inactive the inventory code and would like to re-activate it, what should i do?
Change the filter to show the inactive then edit it to mark it active
Como puedo importar el Producto si tiene un preferente vendo el la hoja de importacion no lo permite cual seria la forma gracias
No se puede importar con las herramientas internas
how can i transfer stock between stores in quick books on
line
No
Y seria bueno que fuera en español, gracias por toda su ayuda, Dios lo Bendiga y a su equipo tambien.
Este video no lo hay en español
How do I import and include locations
Cant, there is no “locations” for inventory