Handling Inventory Assembly Items In Quickbooks
More than once our QuickBooks advisors from Presti and Naegele have run into clients
or potential clients who had no idea that the accounting business software QuickBooks could do light manufacturing and handle assembly items. There are some quirks to the way assemblies work in QuickBooks bookkeeping programs, but below is a pretty good start as to understanding how to do them.
After you create (define) an inventory assembly item, the way you add assembly items to inventory is by building them. When you perform an assembly build, the assemblys components are deducted from inventory and the quantity of assembly items is increased accordingly. To do this task:
1. Go to the Vendors menu, click Inventory Activities, and then click Build Assemblies.
2. Click the Assembly Item drop-down arrow and click the assembly item you want to build. How do you interpret the information shown for an inventory assembly item?
When you select an inventory assembly item, you see information that can help you decide how many of this assembly to build. In the Assembly Item section at the top of the window, QuickBooks shows you how many of this assembly are already in inventory (Quantity on Hand), how many are already promised on sales orders, and how many have been reserved for other assemblies that have not yet been completed. The build point (the minimum quantity you want kept in inventory) is also shown. If you use Advanced Inventory, you see this information across all your sites. You can track multiple inventory sites with the Advanced Inventory add-on which is only available in QuickBooks Enterprise Solutions (additional fees may apply). Learn more at www.qbes.com/inventory.
Note that depending on your current inventory preferences settings, you may or may not see the Quantity on Sales Order, Quantity Reserved for Other Assemblies, and Quantity Available information in your QuickBooks accounting business software. The table in the middle of the Build Assemblies window lists the components (Bill of Materials) needed to build this assembly item. For each component, the quantity on hand and the quantity needed for the current build quantity are also shown. The quantity needed automatically updates as you enter different quantities to build. If you use Advanced Inventory, you can select components from multiple sites. Directly below the table is the maximum quantity of this assembly item that you can build, given the current quantities of the components on hand.
3. (If you use Advanced Inventory) Click the Finished Assembly Inventory Site drop-down arrow and select the site where you will store the assembly after it is built. You can track multiple inventory sites with the Advanced Inventory add-on which is only available in QuickBooks Enterprise Solutions (additional fees may apply). Learn more at www.qbes.com/inventory.
4. (If you use Advanced Inventory) Click the Site drop-down arrow and select the site where each component comes from.
5. Enter a quantity in the Quantity to Build field and press Tab to update the Qty Needed column in the components table. Note that if you enter a quantity greater than the quantity indicated by Maximum number you can build from the quantity on hand, you will be prompted to mark the build as pending. After marking the build as pending, youll need to wait until there is enough inventory on hand before marking the build as final.
6. (Optional) Change the build date only if you need to. What should you know before changing the build date?
The ability to complete a build is directly dependent on the quantities of component items available in inventory on the date of the build. Changing the build date could have any of the following effects:
* Any or all quantity information displayed in the Build Assemblies window could change.
* Your ability to complete the build could change.
* The status of other completed builds could change to pending.
7. (Optional) Enter a memo about this build. Where does the memo appear? you might ask.
The memo appears in the Pending Builds report, in the inventory item QuickReport, and in any report you add the memo field to and that contains an inventory assembly build transaction (such as the Inventory Valuation Detail report).
8. Do one of the following:
* Click Build & Close to finalize this build. or
* Click Build & New to finalize this build and start a new one.
by: Presti Naegele
The Best Pmp Certification Books To Follow Get More Professional With Quickbooks Hosting Books - Our Real Guide The Best Engineering Books Manufacturing In Quickbooks - Assembly Items Cardiology Books Knowledge At The Speed Of Your Heart Beat! Ignou Books A Guarantee Of Success In Ignou Buy Ebooks Choosing Top Quality Ebooks How To Convert Downloaded Ebooks From Computer To Nook Tablets Currently Have Courses To Sell? Producing: State Of The Art, Sellbooks.com Neeraj Books A Mantra Of Success For Ignou Students. Duplicate/triplicate Ncr Forms, Invoice Books Printing Brisbane Expense Tracking In Quickbooks