QuickBooks Inventory With Some Assembly Required

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Managing and Tracking Your Inventory With QuickBooks

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In life and in business sometimes there is some assembly required and QuickBooks has a great way to keep track of that. First you have to create the component inventories. So in this video we are going to have a bit of fun building an airplane by purchasing the wings, the cabin, the cockpit and landing gear in order to assemble this plane. This should help illustrate what it looks like in QuickBooks when we need to build assembly items or in other words we create a finished product out of several parts.

First we have to create the component inventories

This means we have to set up the items as inventory parts. These are the things we will use in building the finished product.

Then we have to buy the inventory items

Once we have the components set up we can buy them. This means we will enter a bill, a check, or a credit card charge and using the items tab at the bottom we will add these components to inventory in our QuickBooks item list.

Now we can create our inventory assembly items

Once we have all of the inventory parts in stock QuickBooks lets us build the assembly items, but first we have to create the assembly items to be built. So in our item list we will create a new item and the item type will be called “Assembly Item.” Once we choose this option we can start adding the components needed and indicated the quantities needed to create the item. The video demonstrates this.

Finally when the inventory assembly items are created in QuickBooks we can build them. This all looks just like it does in the real world. First we have to buy the parts, then we have to have the plans for how to build them (create the assembly item) and then we can build them. We have to build the item before we can sell it.

Once we create the inventory assembly items – the finished goods we can sell them properly in QuickBooks!

Enjoy the video!