Nerd's Knowledge Store

When you are finished with this video you will have a whole new (or any) understanding of how inventory works in QuickBooks!

3 hours on Managing and Tracking Your Inventory with QuickBooks

Learn how to use your inventory information to maximize your profits, return on investments, and return on assets!

Bonus section at the end gives you some powerful instruction on MS Excel on cleaning up and manipulating exported inventory data

Here is what you are going to learn

• Find out the 3 main goals you must achieve when it comes to managing and tracking your inventory in QuickBooks.
• Item setup: Best practices in planning and naming for styles, colors, and sizes and  how to control the impact on the financial statements.
• See behind the scenes – how an invoice transaction posts on the Balance Sheet and Profit and Loss.
• Which reports I rely on when working with my clients and insights into how I analyze these reports to look for ways to increase profits and returns.
• How to run the Inventory Valuation Summary and export it to Excel.
• How to record a simple macro in MS Excel to help clean up the export quickly and prepare it for the 2012 Inventory Tracking template.
• How to use the 2012 inventory tracking template to gather your physical inventory counts.
• How to prepare your inventory tracking template for super fast inventory adjustment posting in QuickBooks.