QB inventory

Inventory Cleanup: A New Package

In my last blog, I introduced our new packages. The next few blogs will outline the actual services within each. I know many companies that won’t touch inventory; it’s too messy, so they prefer to work with consultants and service providers to do their books. Not Fourlane. I started my career in manufacturing, so inventory doesn’t scare me.

Why would you need a QuickBooks inventory cleanup? If you are carrying one balance on your inventory and QuickBooks thinks you have a different value on your inventory, it’s time to do an inventory clean up.

Here’s the process we follow:

  1. Verify and rebuild your live QuickBooks file. This ensures we’re working with clean data.
  2. Run Balance sheet and Inventory Valuation Summary, as well as the No Item report.
  3. If your No Item report is not at 0, we will do a journal entry for it.
  4. We will then remove the negative and inactive inventory.
  5. Next, we’ll re-compare reports to determine if there still are issues.
  6. We will provide you with reports showing that the two reports now match and what (if any) adjustments were made.
  7. Next, we will backup the file and return it to you.
  8. Finally, we will communicate all findings and errors corrected in writing and schedule a follow-up call to review.

Pricing for the inventory clean up varies based on the number of items in your file. If you want to tackle inventory clean up yourself, we did a blog and a webinar on this topic last spring.

Leave a Comment

Your email address will not be published. Required fields are marked *