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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 an 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 recompare 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.

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About Marjorie Adams

Our head QuickBooks trainer and guru, Marjorie Adams, is Founder and CEO of Fourlane, Inc., an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner. Fourlane’s team of experts offers several QuickBooks oriented services including consulting, training, programming, integration, and more. Over the years, Fourlane has helped over 10,000 customers across many different industries with their QuickBooks accounting software. Marjorie Adams is considered one of the top QuickBooks trainers in the country. She was listed on CPA Practice Advisor’s 40 Under 40 in 2014 & 2015, and has been recognized as Intuitive Accountant’s 2015 QuickBooks Desktop ProAdvisor of the Year. Marjorie sits on Intuit’s VIP Program, is a frequent contributor to Inuit Accountants News Central, and has developed Intuit’s QuickBooks Enterprise Certification training. She has also been published in The Wall Street Journal, Forbes, BusinessWeek, American Express Open, the Huffington Post, and Inc. Magazine.

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