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QuickBooks 2008: items being posted to Stock Asset account, despite not being associated with that account

QuickBooks 2008: items being posted to Stock...

 A client has recently started using Items in QuickBooks 2008, but when she books a cheque for a purchase of some of these Items, QB automatically posts them to the Stock Asset account. I have looked at the Item List, which shows that some of these items are linked to the Sales account and one does not appear on the Item List at all. No Item in the list is linked to the Stock Asset account.

Can anyone tell me how these items are ending up in the Stock Asset account, and how I can stop it happening? She does not want to record them as stock because she buys them for specific sales orders and they go straight out again.


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15th Jul 2010 20:17

QuickBooks Items
Can you please provide a little more information about the Item in question? What is its "Type" - is it a "Stock Part" or "Stock Assembly", for example?

When purchasing in QuickBooks, it isn't necessary to use Items. If she simply wishes to record the purchase in a CoGS account, then on the Bill, she can simply enter the appropriate CoGS nominal account on the Expenses tab of the Bill (as opposed to using the Items tab). The main reason to use Items for purchasing is for monitoring stock. In most other cases, I wouldn't use Items for purchases.

Sales, on the other hand, do require an Item to be sold, as one can't create a line on a Sales Invoice with only a nominal code. If not monitoring stock, the sales item can be set as a Service type (or possibly Non Stock Part, if required).

Per QB Help:
In QuickBooks, a non-stock part is one of the types of line items you can use when you are filling out a sales or purchase form. You use non-stock part items to track merchandise that:
You purchase but do not resell.
You sell but do not purchase.
You purchase and resell but do not stock in stock or track as stock.

Non-stock parts are items that you purchase (usually on behalf of a specific customer) and then immediately sell or install, or items that you sell without ever buying. For non-stock parts, QuickBooks will only track how much you have spent or taken in. Some people use non-stock parts even for items that they stock because they prefer a simpler approach—even though it gives them less information.

I hope this helps.

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By chatman
15th Jul 2010 22:00

Thanks Charlie

They are all down as Non-stock Part, except the one which I mentioned was not listed at all.  I think you are right in that the best solution is to stop using Items for purchases.

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