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QuickBooks 2013 For Dummies by Stephen L. Nelson, MBA, CPA

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When You Buy Stuff

As you unload items from a truck, receive them in the mail, or buy them from a street peddler, you have to record the items so that QuickBooks can track your inventory. How you record the items and pay for them depends on whether you pay cash on the barrelhead, receive a bill along with the items, or receive the items without a bill (in which case, you pay for the items later).

And you may have filled out a purchase order (PO) for the items that you’re receiving. If that’s the case, receiving the items gets a little easier. If you receive items for which you already filled out a PO, see the section, “How Purchase Orders Work,” later in this chapter. I strongly recommend filling out a PO when you order items that you’re going to receive and pay for later.

Recording items that you pay for upfront

Okay, you just bought three porcelain chickens in the bazaar at Marrakech, and now you want to add them to your inventory and record the purchase. How do you record inventory you paid for over the counter? By using the Write Checks window, of course — the same way you record any other bills you pay for upfront. Just make sure that you fill out the Items column as I describe in Chapter 6.

Recording items that don’t come with a bill

What happens if the items come before the invoice? Lucky you — you have the stuff, and you don’t have to pay for it yet. However, you do have to record the inventory you just received so that you know you have it on hand. You can’t do that in ...

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