Adjust Inventory Balance in QB

Modified on Tue, 02 May 2023 at 06:07 AM

TABLE OF CONTENTS

BOM — Sales Receipts
Inventory Bills
Run the Inventory Stock Status by Item report

We sync Bill of Materials and Inventory Bills from FCX to Quickbooks to establish or adjust inventory balance in QB.

BOM — Sales Receipts

Bill of Material is pushed to QB once when it moves to the Kitted stage.

We always use a specific material item “FCX Inventory” to sync it as item in Sales Receipts and Inventory Bills. This static item name is set up in the QB sync settings.

In the table below, we show how BOM fields match with Sales Receipt.

From FCX	To QB
BOM Name	Memo
Customer Job (from BP)	Customer Job
Kitted Date	Transaction Date
Table
FCX Inventory (item name set up in sync settings) BOM Name Total $ * 100 (from BOM: Kitted QTY material item COGS)* - - Sales Tax Code	Item Description QTY Rate = 0 Amount = 0 Non

To open Sales Receipts go to Customers → Customer Center → Transactions → Sales Receipts.

Inventory Bills

Inventory Bills are Bills related to Inventory Transaction Journal. To sync Inventory Bills to QB, we turn on the QB sync configuration setting — Use Inventory Item for Bills.

Inventory Bills are synced like regular Bills: when a Bill moves to the “Approved” Stage → sync to QB, when it is paid/void in QB → sync back to FCX as Paid/Cancelled.

Inventory Bills do not imply financial distribution. Use correct invoice category without VIM PO allocation and FD creation.

From FCX	To QB
Invoice Number (first 20 characters)	Ref No
Vendor	Vendor
Memo	Memo
Invoice Date	Date
Invoice Payment Terms	Terms
Table — Item Expenses
FCX Inventory (item name set up in sync settings) Notes Amount * 100 (it means 0.01 cent per item) Amount	Item Description QTY Amount

Run the Inventory Stock Status by Item report in QB

Reports → Inventory Stock Status by Item → select FCX Inventory to view the balance.