Six QuickBooks Reports to Track Inventory

Six QuickBooks Reports to Track Inventory


The Inventory Valuation Summary report shows the current value of your inventory. Each inventory item shows the description, unit price, quantity on hand, average cost, asset value, percent of total inventory value, sales price, retail value, and percent of total retail value. You can adjust the report for any period in time.

The Inventory Valuation Detail report breaks down each transaction that affects the total value of your inventory. The sales decrease the quantity on hand and value of the current inventory. Purchases increase the quantity on hand and the inventory value.

The Inventory Stock Status by Item report shows each item with a description, preferred vendor, reorder point, quantity on hand, quantity orders, expected receipt date, and average sales per week. The average sales per week is calculated on the specified date range. This report is a great tool for inventory management. Find out how much you have and how much you are anticipating. Then, you can make purchase decisions based on how much more you need.

The Inventory Stock Status by Vendor report breaks down the same information as the previous report by Vendor. Track what items you need to order from each Vendor and how much you have in your inventory from a particular vendor.

The Physical Inventory Worksheet lists each item, description, preferred vendor, and quantity on hand. You can print this report to enter the physical inventory count in the last column. Check your actual inventory to what the books show. It is important to audit your own company to maintain accurate records.

The Pending Builds report lists all build transactions marked as pending with the date, reference number, item, quantity and memo. A pending build is a building transaction that has yet to be completed. This is a particularly valuable report for a manufacturing company. This can assist in cost accounting practices.

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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