If you want the QuickBooks File from this screen cast so you can see exactly how this was done you can download it in my School of Answers for $4.97.

This is a Portable Company File which can be opened in QuickBooks Pro or Premier 2012 for PC. This is also a great way to help me out for all of the time I put into these free screen casts! Thanks!!

Let’s say that you sell inventory and that as part of that process you might accept old inventory as a Trade-In. How to account for this in QuickBooks? The real question is, how to I do the following:

  • Give the customer credit for having paid value in the form of a Trade-In
  • Get that traded in item into inventory with a quantity and cost when I haven’t and never will receive a bill for it?

This week’s screen cast will answer these questions and probably a few others so please watch and then post your comments and questions below.