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Have you ever thought of using QuickBooks as your main financial tool? Even if you already decided to choose QuickBooks, QB Online or Desktop? Which one is more ideal for your business? QuickBooks Online vs QuickBooks Desktop QuickBooks Online and QuickBooks Desktop are small business accounting software that differs in features and data accessibility. QB Desktop is ideal for businesses selling products, and QB Online is more suitable for service-based businesses that do not

What is negative inventory? Negative inventory is a condition that inventory count shows that there are less than zero item in stock. This is a common temporary inventory condition that occurs because inventory is closely tracked using computer systems, different accounting methods, etc. mistakes in the process can actually cause a negative inventory balance. You may also like: What cause negative inventory - How can it affect your business? What does it mean to have negativ

Because inventory is closely tracked using computer systems, different accounting methods, etc. mistakes in the process can actually cause a negative inventory balance. Here are several head-aching issues causing the balance on records to go into the red. You may also like: What Cause negative Inventory - How it Affect Your Business? How to Prevent Negative Inventory using Quickbook? Timing First, as new inventory is ordered, the shipment of the inventory may be recorded comp

It goes without saying that accurate and timely physical inventories are one of the most important responsibilities in assuring making business more profitable. An inaccurate inventory can make the difference between the profit and loss. For example, if a corporation overstates its inventory, it will exaggerate gross profits and net income as well as current assets, total assets, retained earnings, stockholders' equity, and all of the related financial ratios for the current

Inventory control and usage may become actually complex, so depending on the needs of the company, other more sophisticated inventory programs need to be utilized. The beauty of QuickBooks (QB) Enterprise is that items are tied to the financial accounts, freeing the end-user from the knots of accounting. QB inventory costing: - Works on an “Average cost” basis - NOT LIFO (last-in-first-out costs) or - FIFO (first in‐first out) In QB, Inventory is a special type of Item – used