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How to Track On-Hand Quantities of Returned Non-Inventory Items in QuickBooks
Published 07/23/2011 | 
We are online furniture retailer. I have a couple of questions about how to enter inventory in Quickbook. I’m using Quickbook 2009. We usually don’t keep any inventory,but sometimes our customer return items to our warehouse. And we are planning to sell them on warehouse sale. But how can I enter these type of inventory ? I guess quickbook doesn’t assume this situation. For now, I used Non Inventory furniture account for sale and refund to our customer. Please advise.
The cleanest way to do this is to just sell the non-inventory part again. If you want to see how many you have on-hand, you can create an inventory part and do an inventory adjustment to add your on-hand quantities into inventory. If you also want to add your cost, make sure to use whatever COGS account you used when you purchased it as the adjustment account so it’ll reduce COGS by the same amount added to your Inventory asset account.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, Inc. and has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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Hi Ruth,
We are using Quick books Enterprise 11.0, We have to track office use items which are being used for office/Kitchen i.e. Stationary, Floor cleaner liquid, hand wash liquid and Kitchen items i.e. tea bags, coffee, etc, so that only those items are expensed out which are being used and the remaining should be shown as an asset on the balance sheet as we purchase these item in bulk quantities.
To track inventory in quick books it requires COGS,Income, Assets accounts, kindly advise us a way that these items are kept track of and managed in a proper way. We will highly appreciate your support in this regards.
Regards,
Ghulam Abbas.
Hi Ghulam,
The income and COGS accounts don’t matter since you won’t be using it on an invoice or sales receipt so enter whatever you like. The asset account will be your office inventory account.
As you use your office inventory, you can either do an inventory adjustment using your office expense account as the Adjustment Account or create a $0 check/bill with the items you used on the Items tab with a negative amount and your office expense account on the Expense tab with a positive amount.