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QuickBooks Items and Inventory: Company Preferences Part 1

Items and Inventory 

The Items and Inventory section of the preferences section is an important part of QuickBooks. However, it is only important if you are dealing with a company that sells items. Service companies do not need to work much with this screen unless they are looking to turn options off in QuickBooks. Here is a rundown of the options in the Company Preferences section. We will continue this description in further part 2, and we will be detailing the Advanced Settings on this page in a later post.

  • Inventory and Purchase Orders are Active
    • Check this box if you use it in your business. It will give you access to the items and inventory features in QuickBooks. If you do not check this box, then most of the rest of the Items and Inventory screen will be grayed out.
  • Warn about Duplicate Purchase Order Numbers
    • Checking this box will cause a warning message to display if you try to enter a purchase order with an order number that is already in your QuickBooks company file.
  • When Calculating the Quantity Available for my inventory, deduct:
    • Quantity Reserved for Pending Builds
      • This option will take away any inventory that is needed for filling a pending build order. A pending build order is an order that could not be filled due to a lack of inventory. So if you have a pending build order, checking this option will automatically deduct it needed to fill the order.
    • Quantity of Sales Orders
      • Checking this box will make it so that uninvoiced items on sales forms will not show in the Available screen.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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