Our QuickBooks accounting, including the inventory count, as well as the A/P liability and the inventory value on-hand, change from 30 being posted into inventory on Feb. 10, to 30 being posted on Feb. 20.Īs far as QuickBooks is concerned, we had no widgets in stock until Feb. 20. QuickBooks responds to the change in the transaction date. So the actual due date of the Bill does not match up based upon the 30-day terms. Now the Accounts Payable clerk changes the Bill Date to match the Vendor’s Billing Date of Feb. 20, so that the terms and Due Date match. The problem is the document is dated as of the receiving date on Feb. 10. She now selects the Item receipt, which now "checks the little box" and the Item Receipt becomes the Vendor Bill. ![]() When she starts to enter the Vendor Bill, QuickBooks shows there is an Item Receipt open for which the Bill has not been posted. The Vendor’s Bill is dated Feb. 22 and has terms of Net 30, so the bill is due by March 24. On Feb. 25, the Accounts Payable clerk receives the Vendor Bill for the 30 widgets I ordered on Jan. 20, and received on Feb. 10. I now, as of Feb. 10, have 30 widgets in stock and available for sale. On Feb. 12, a customer calls and asks me to ship 20 widgets to them overnight, so I pull 20 widgets off the shelf and enter an Invoice to the customer for those 20 widgets dated Feb. 12.Īt the end of the day, on Feb. 12, I now have only 10 widgets in stock and available. On Feb. 10, the 30 widgets arrive. I receive them into QuickBooks using an Item Receipt as of the same date. My Item Receipt matches my purchase order in terms of price and quantity. I order 30 widgets (an inventory type item) on a Purchase Order on Jan. 20, 2017. The expected arrival date is Feb. 10. Purchase Order -> Item Receipt -> Vendor Billīut look at the the upper right side of both the Enter Vendor Bill window and the Create Item Receipts window for the small checkbox marked "Bill Received." When that checkbox is checked, this QuickBooks form is a "Bill." When the checkbox is unchecked, it's an "Item receipt" form. Using the standard receiving process for inventory in QuickBooks, the workflow is: As far as I'm concerned, the purpose of this feature is to isolate the receiving process from the Accounts Payable process as much as possible. Standard Receiving in QuickBooks EnterpriseĮnhanced Inventory Receiving is available only in QuickBooks Enterprise Solutions. When you order items using a QuickBooks Enterprise Purchase Order, you need to receive those items with or without a Vendor Bill. Receiving posts the value of the items to the General Ledger and, in the case of Inventory, the items are posted to Inventory Assets and the quantities increment both the Quantity on Hand and Quantity Available.
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