QuickBooks Inventory

Learn every possible merchandise inventory situation in QuickBooks
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  • Lectures 14
  • Length 2 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2016 English

Course Description

This course will give you everything you need to know about using the inventory module in QuickBooks Accounting desktop versions.

This course shows how to add “non inventory” parts to the items list and when to use non inventory parts. It teaches how to activate inventory and what inventory activation does to the QuickBooks file.

Every possible inventory transaction is covered in this course. You will learn how to use inventory reports and how to find and fix inventory mistakes.

At the end of the course, you will learn how to adjust inventory for unusual situations. You will also be shown a SPECIAL METHOD  created by me to handle PREPAID INVENTORY transactions

The class gives real hands on practice with buying and selling transactions in QuickBooks.

What are the requirements?

  • basic quickbooks skills
  • basic computer skills
  • basic understanding of buying and selling

What am I going to get from this course?

  • Perform any task related to managing inventory / merchandise records
  • record any inventory related transacion
  • use inventory reports
  • find and fix mistakes related to inventory
  • use different inventory item types in the right sirtution
  • find the accounts in the chart of accounts that change when inventory changes
  • adjust inventory for unusual situations

Who is the target audience?

  • anyone who needs to manage inventory in their company
  • anyone studyng for the certified quickbooks user exam

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Here is everything you need to master iventory in quickbooks
Welcome to QuickBooks Inventory

This lecture will show you what "non inventory" items typse are. It will show how and when they should be used. You will learn what effect these items have on the results of your quickbooks repors


You will clearly se the difference between the file before you activate inventory and the file after you activate inventory.

You will be able to do it yourself in quickbooks and understand what it means


Inventory items must be added to the items list the same way that the service items were. You will see the specific things you need to do this and understand what effect it will have on the transactions and the reports


You will learn how to record merchandise purchases where you pay immediatly upon receiving the merchandise. You will understand what accounts in the chart of accounts change when you purchase mechandise nad pay immediatly. You will be introduced to the most importand inventory report


You will see the results of your quickbooks records change when you record a sale of merchandise. THis video civers cash and "on acount" merchandise sales


Buying inventory "on account" will require that you enter the vendors bill. You will see how it is a little different than entering a bill for a service


If you recive merchandise before the bill for that merchandise, the documnet you enter is called an item reciot. It will match with the bill whe the bill comes later


This practice set will help you remember and help you understand the inventory transactions that you learned. After recording the transctions, you must compare your results to the results in the video. If you have any difference, you have to use what you learned to find and fix your mistakes


Purchase orders are documents tht do NOT represent transactions. You will learn how to record them and what effect they have when you order and when you receive the ordered merchandise


Sales orders are documents tht do NOT represent transactions. You will learn how to record them and what effect they have when you order and when you receive the ordered merchandise


sometimes the quantity or value of innventory changes for an unusual reason. You will learn how to record this issue and understand the effect of this in the quickbooks records


I made this video so that you would have knowledge of every possible inventory situation!!

This is a special method that I, Mark Smolen, created many years ago and it works perfectly!!

If your company pays "IN ADVANCE" for inventory that you mark up and re sell to a customer, this video is perfect for you. Enjoy!!


Use this technique if you are using the "pay from prepaid" method by Mark Smolen, for managing your inventory AND YOU ABSOLUTELY NEED TO SEE THE RUNNING BALANCE OF THE VENDOR; the balance at any particular moment in time.  

11 questions

This test will check your understanding and memory of the most important ideas in this course

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Instructor Biography

Professor Mark Smolen, Professor of Computerized Accounting

I have 2 decades of experience teaching Computerized Accounting. I have taught QuickBooks at A.S.A college in Manhattan New York. I have made my lessons available to job training schools for adult education and have helped place hundreds of students in good paying jobs using QuickBooks and other software that they learned in my class. I am a permanently licensed teacher by the New York State Education Department. I am also a Certified QuickBooks Pro adviser. I have made these videos by determining what my clients needed and how effective they were in real life situations. I enjoy helping students turn frustration in to a feeling of comfort and satisfaction with QuickBooks

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