In this article, we will be helping you to track the products built by using the inventory parts. This can easily be done in the QuickBooks Desktop Premier, Enterprise, or Accountant versions.
Now, you don’t have manually track your products and you can focus on manufacturing products that your customers love. QuickBooks comes with every important feature that require for you to manage your products.
QuickBooks Desktop allows you to combine inventory parts to build and track finished goods. While building your products, QuickBooks automatically update your stock of components. You can also track all your pending builds, check shortages, and more. We will be helping you out in doing so. You can also contact the QuickBooks Customer Service Phone Number +1888-396-0208 toll-free.
Steps To Track Products You Manufacture
Step 1: Turn on inventory tracking
If you haven’t enabled inventory tracking, you can turn it on by following the given below steps:
- From the main menu of QuickBooks, go to Edit > Preferences.
- Choose Items & Inventory option and then go to Company Preferences
- Click on Inventory and purchase orders are active.
- Click on Warn if not enough inventory to sell and then select the type of warning you want to see. Tip: For QuickBooks Enterprise users, choose Don’t allow negative inventory quantities. This helps you keep your books accurate.
- If you are using unit of measure to track products, click on Enable from the Unit of Measure section. You can know more about how unit of measure works in QuickBooks.
- Click on OK once you’re done.
Step 2: Set up your product’s components
Once your settings are in order, set up all the parts you use to build your product.
- Set your products as an inventory part if you track a component’s quantity.
- Set your products as a non-inventory part if you use a component that you are not tracking.
- Set your products as other charge items if you include other charges or fees for each build.
Tip: You should be avoiding setting up an item twice. Go through your item list to check whether a component you want already exist or not.
Step 3: Add your product’s bill of materials
Create a list that contains all the components you use to manufacture a single product. This is called the bill of your materials in QuickBooks Desktop. It allows you to track the inventory parts assembled by you and sold by you.
Tip: You need to create a group item for those products that you are buying or selling together bit not tracking as a single item. For example, a basket of fruit, cheese, or wine.
Step 4: Build your product
Once you are done with setting up all the parts and add them to your bill of materials, you are all set to build your products.
Step 5: Keep track of what you sell
When you realized that you are all set to start selling your product, you can keep track of each sale in two different ways.
- Create an invoice if your customer will pay you later.
- Create a sales receipt if they paid on the spot.
Tip: You, may have to create sales orders for tracking backorders if you don’t have enough products build yet. Once enough products are ready to sell to a customer, enable the sales order into an invoice.
Step 6: Check your stock and pending builds
QuickBooks sends you a reminder when you need to start building more products. However, you can run reports at any point of time if you require a quick overview of your inventory status.
You can find the reports from the Reports menu and then select Inventory.
Step 7: Reorder components from vendors
If you want more components, then you can directly order in QuickBooks whatever you need. Then, you can track whatever the component you have successfully received and what’s still on order. While doing this, quantity on hand of each component will get increased automatically as per the number of items you received.
Reach Us For Support
The provided steps should be helpful for you in tracking the products you manufacture in QuickBooks Desktop. However, if you are facing any kind of issue during the process or you are not sure about performing the steps manually, you can contact us at our toll-free QuickBooks Support Phone Number +1888-396-0208 to get technical assistance.