QuickBooks Inventory Valuation Weighted Average Costing Method
1.8 هزار بار بازدید -
4 سال پیش
-
Have a change in unit
Have a change in unit cost of your inventory items as you purchase them? How do you know your inventory value? You can take the weighted average cost of your inventory items to use for your inventory valuation. But what is weighted average anyway? It is the inventory valuation method that QuickBooks desktop applies to your goods on hand in order to value your inventory asset. It’s a method we use to do inventory valuation, so we know the purchase cost of all merchandise items that are currently on hand; even if purchase costs have changes while we were buying and selling inventory.
When the purchase cost of your merchandise changes, you buy the same inventory item at a different purchase cost. You then have some identical items in your inventory with different purchase costs. How does QuickBooks know which cost to assign the goods on the day of the sale if they all of that 1 item that you sold have different purchase costs? What does quick book use to calculate the cost of goods sold for that sale? The answer is: QuickBooks uses the “weighted average” costing method. This means that when an item is sold, QuickBooks does a calculation based on both the purchase cost and the quantity on hand of the goods being sold. You will see how this works by watching this video.
This training tutorial will start you on learning ideas about units of measure by showing examples of “single units of measure”. These are things like: “boxes”, “cans” or any denomination that you sell your merchandise or purchase your goods in. When you activate unit of measure in the preferences window, it will enable inventory reports to show a column that tells the unit of measure in any detail merchandise QuickBooks reports that you use to track the change in quantity of your goods.
👇 Learn QuickBooks Inventory Management Full Playlist: Every Topic……..
How To Activate The Inventory Feature...
Here The QuickBooks Online Full Inventory Course, all the same topics in QuickBooks online……….
This whole playlist is the full QuickBooks Desktop Inventory feature playlist course. It’s all about managing goods and keeping inventory records; generally, how to use the inventory module in the desktop version. Following this playlist in the same order as the list here, will show you how to set up inventory and how to track inventory quantity after each purchase or sale of merchandise inventory. You will use inventory reports in QuickBooks. Every possible transaction or issue that involves merchandise inventory and managing and counting goods in QuickBooks desktop will eb shown in this video series.
You will learn how to find and fix inventory mistakes. At the end of the course, you will learn how to adjust inventory for unusual situations. You will also be shown a SPECIAL METHOD created by me to handle PREPAID INVENTORY transactions. The class gives real hands-on practice with buying and selling transactions in QuickBooks.
This QuickBooks instructional series even teaches some basic accounting inventory concepts; specifically, the "Perpetual" inventory method of inventory valuation in QuickBooks. It will be understandable in common sense terms without accounting knowledge.
You can Learn QuickBooks Free and get live help for every possible QuickBooks topic here at the main channel page: worldwidequickbooks
✅ You can download "follow along files" for this video at:
https://marksmolen.com/index.php/yout...
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
Learn QuickBooks Bank Reconciliation
1 - What Is Bank Reconciliation - Qui...
Learn QuickBooks Desktop Bank Feeds Importing
QuickBooks Transferring Data Bank Tra...
➡Follow us on social media: Facebook: certifiedquickbookstraining
Facebook: QuickbooksForLandlords
Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website.
➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course?
Contact Mark directly.
https://marksmolen.com
https://quickbooksforlandlords.net
#QuickBooksinventory #Quickbooksweightedaverage #Quickbookscostingmethod
When the purchase cost of your merchandise changes, you buy the same inventory item at a different purchase cost. You then have some identical items in your inventory with different purchase costs. How does QuickBooks know which cost to assign the goods on the day of the sale if they all of that 1 item that you sold have different purchase costs? What does quick book use to calculate the cost of goods sold for that sale? The answer is: QuickBooks uses the “weighted average” costing method. This means that when an item is sold, QuickBooks does a calculation based on both the purchase cost and the quantity on hand of the goods being sold. You will see how this works by watching this video.
This training tutorial will start you on learning ideas about units of measure by showing examples of “single units of measure”. These are things like: “boxes”, “cans” or any denomination that you sell your merchandise or purchase your goods in. When you activate unit of measure in the preferences window, it will enable inventory reports to show a column that tells the unit of measure in any detail merchandise QuickBooks reports that you use to track the change in quantity of your goods.
👇 Learn QuickBooks Inventory Management Full Playlist: Every Topic……..
How To Activate The Inventory Feature...
Here The QuickBooks Online Full Inventory Course, all the same topics in QuickBooks online……….
This whole playlist is the full QuickBooks Desktop Inventory feature playlist course. It’s all about managing goods and keeping inventory records; generally, how to use the inventory module in the desktop version. Following this playlist in the same order as the list here, will show you how to set up inventory and how to track inventory quantity after each purchase or sale of merchandise inventory. You will use inventory reports in QuickBooks. Every possible transaction or issue that involves merchandise inventory and managing and counting goods in QuickBooks desktop will eb shown in this video series.
You will learn how to find and fix inventory mistakes. At the end of the course, you will learn how to adjust inventory for unusual situations. You will also be shown a SPECIAL METHOD created by me to handle PREPAID INVENTORY transactions. The class gives real hands-on practice with buying and selling transactions in QuickBooks.
This QuickBooks instructional series even teaches some basic accounting inventory concepts; specifically, the "Perpetual" inventory method of inventory valuation in QuickBooks. It will be understandable in common sense terms without accounting knowledge.
You can Learn QuickBooks Free and get live help for every possible QuickBooks topic here at the main channel page: worldwidequickbooks
✅ You can download "follow along files" for this video at:
https://marksmolen.com/index.php/yout...
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
Learn QuickBooks Bank Reconciliation
1 - What Is Bank Reconciliation - Qui...
Learn QuickBooks Desktop Bank Feeds Importing
QuickBooks Transferring Data Bank Tra...
➡Follow us on social media: Facebook: certifiedquickbookstraining
Facebook: QuickbooksForLandlords
Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website.
➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course?
Contact Mark directly.
https://marksmolen.com
https://quickbooksforlandlords.net
#QuickBooksinventory #Quickbooksweightedaverage #Quickbookscostingmethod
4 سال پیش
در تاریخ 1399/04/24 منتشر شده
است.
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