Intuit Quickbooks Pro 6.0 Accounts and Inventory Michael Furdyk
In QuickBooks, you have several types of accounts. The main types of accounts are Bank accounts, which are actual accounts at your bank where you keep your cash. Expense accounts, which you create to seperate different types of expenses (for example: food, utilities, bank fees). Income accounts, which you use to classify any income you may receive (for example: interest, online sales, telephone sales). If you have a credit card, you will want to create a credit card account to track purchases made on the card and payments made towards the card balance. If you need to invoice and receive payment from clients, you will create an Accounts Receivable account to track what you've been paid, what you're owed, and who hasn't paid. If you receive invoices from Vendors and need to track payments, you can create an Accounts Payable account to track what you're invoiced, and what you pay.
If your business purchases items ready for resale, keeps them in inventory, and then sells them, QuickBooks' inventory feature can track the current number of items in stock and the value of your inventory after every purchase and sale. You can even configure QuickBooks to remind you to purchase more inventory if you become low in stock and do not have enough in stock to sell. QuickBooks comes complete with a number of Inventory reports, including inventory stock status by item, inventory stock status by vendor, inventory valuation summary, physical inventory worksheet, and item listing.
