A.5.1 Negative Inventory
- 35 steps
Start in the Sample company.
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To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.
Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.
Now let's get started with the exercise.
Recreating the Problem
How could you end up with a negative amount of inventory? Let's take a look.
We'll start by recreating the problem.
To quickly see the number of items currently on hand for each inventory product, visit the Products and services list.
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Click the Gear icon.
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Click "Products and services".
We can use the filter to view only the inventory products.
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Click the "Filter" icon.
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In the Type field, select "Inventory".
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Click "Apply".
Here you can see how many of each product are currently on hand. Note that there are only two rock fountains.
To replenish his stock, Craig buys 3 more rock fountains, but let's see what happens if he records the purchase incorrectly.
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Click "+ New".
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Click "Expense".
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In the Payee field, select "Tim Philip Masonry".
Notice that when you select Tim Philip Masonry, a purchase order pops up in the drawer. We're going to ignore that for now, but keep it open.
The correct way to purchase inventory products is to use the Item details grid. But let's see what happens if Craig uses the Category grid instead.
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In the Category column, on the first row, select "Fountain and Garden Lighting".
