Posted by thnotary_NY on 12/8/05 2:16pm
Msg #81199

QuickBooks anyone?

Is there anyone using this that can tell me about the Inventory section.? I'm looking to track my packages of copy paper so I'll know when to re-stock. I was thinking maybe I could avoid getting involved with this COGS thing. I'll be starting it next year.

Reply by Charles_Ca on 12/8/05 2:34pm
Msg #81209

Yes I use QuickBooks' Professional Services edition and I use the job costing functions to track my job costs. I have never used their inventory programs since I have no inventory in my businesses. However you should be able to use the job costing program to keep track of all of your costs.

Reply by thnotary_NY on 12/8/05 2:58pm
Msg #81216

Thank you Charles, I've got the Pro ed also. When I saw the inventory part, I said great, so I entered some packs of paper left over from last year and discovered that I now had an A/P for the paper, I assumed because I didn't account for the payment in the begining. Anyway, to make long short, I voided the whole thing and thought I'd see if anyone else had found a way aroung. What I I'm wondering now is if I expense and show payment, carry the paper as inventory, what will happen to the COGS thing.? Of course there will not be any but I'm just wondering. I'm looking more for the tracking than anything else. It's not like this is my return, know what I mean.? I just like the idea of being notified when the supply gets low..

Reply by Charles_Ca on 12/8/05 3:13pm
Msg #81219

The trouble with the inventory part is that it invokes a bunch of other items, as you've discovered. You have to receive the inventory items and pay for them and then if you take them out of inventory you need to account for the sale and the taxes paid which is where the cost of goods sold comes in. I believe, although when I had inventory in another business I had a bookkeeper, that the best way to get around the system is with credit memos, you insert a credit memo as payment for an invoice and on the credit memo you put what you did with the item. That gives you a paper trail and shows what came in and what went out. The job cost portion does that without all of the extra paperwork. QuickBooks has an excellent forum as well a really great support. Check on their forum to make sure because I am hardly a QB power user. Good Luck!

Reply by thnotary_NY on 12/8/05 3:59pm
Msg #81233

Thanks again, I did find the forum. Any time I buy something I always look for the forum. Over all, what or how have you found QB to be in general. Have you found it to fit in as far as Notary work goes.? I've got a sister-law in So Sanfran., wherebouts are you.?

Reply by Charles_Ca on 12/8/05 5:21pm
Msg #81253

I am on the Mendocino Coast in the Redwoods, worlds apart from anywhere else in the world and deep in the heart of the Emerald Triangle I have owned several bookkeeping programs over the years starting with a DOS version of Peach Tree. I liked Peach Tree the best but I had no use for a program set up to do 300 companies. I moved to QuickBooks because it integrates with TurboTax many years ago and recently upgraded to QuickBooks Pro. I actually like the original QuickBooks. I have a basic aversion to programs that pretend to know everything I need. I guess maybe I'm a throwback but I like to be in control. Programs that automatically set up my accounts, load stuff I have no need of and in general go off on their own scare me. I am always afraid that I will lose control of what is going on. I think I just identified myself as a control freak

Reply by thnotary_NY on 12/8/05 7:25pm
Msg #81277

Don't worry, I'll never tell.