Kington, UK -- (SBWIRE) -- 06/02/2021 -- Negative inventory in QuickBooks is caused when sales transactions are entered before the corresponding purchase transactions are entered.
This scenario can be avoided by only recording the sale of inventory items after they have been purchased and entered into QuickBooks.When creating a new inventory item, the quantity on hand and value can be entered to establish the average cost. If there are no units on hand, a purchase would have to be entered before entering the sale.
Non-posting estimates and sales orders can be used to track sales with no inventory. The customer order can be entered as an estimate or sales order. The inventory item would then be purchased entered into QuickBooks and then the estimate would then be converted to an invoice.
Pending invoices can be used to enter sales with no inventory. The customer order would have to be entered as an invoice and then marked as pending. The inventory items would then need to be purchased and entered into QuickBooks. Finally, the invoice date would have to be adjusted to the date on which the goods are shipped to the customer.
Setting preferences can also provide fair warning to potential problems. A check box Under Edit > Preferences > Items & Inventory > Company Preferences would be marked "Warn if not enough inventory to sell." Keeping this box checked will alert when invoicing a customer for more units than are available to sell.
E-Tech's exclusive Negative Quantity on Hand Repair service offers an exclusive service to repair data file and remove all instances of negative quantity on hand.
More service specifications for E-Tech's QuickBooks Negative Inventory Service can be seen at https://quickbooksrecovery.co.uk/quickbooks-file-data-services/quickbooks-negative-inventory-repair/.
About E-Tech
E-Tech is the leading service provider of QuickBooks File Repair, Data Recovery, QuickBooks Conversion and QuickBooks SDK programming in the UK and Ireland. In their 20 years plus of experience with Intuit QuickBooks, they have assisted over 1000 satisfied customers with their requirements. E-Tech UK covers US, UK, Canadian, Australian versions which include Reckon Accounts, and New Zealand versions of QuickBooks through PC and Mac platforms.
For media inquiries regarding E-Tech, individuals are encouraged to contact Media Relations Director, Melanie Ann via email at Melanie@e-tech.ca.
To learn more about the company, visit: https://quickbooksrecovery.co.uk/.
Media Contact
Melanie Ann
E-Tech
61 Bridge St.
Kington HR5 3DJ
Melanie@e-tech.ca
www.quickbooksrecovery.co.uk