QuickBooks Inventory – Using Units of Measure – Part 17

Posted by on May 11, 2011 in Inventory Module | 0 comments

This last installment to the Inventory section, Using Units of Measure, will be divided up into seven sub parts. So, this will incorporate Parts 17 through 23.

Once again I must remind you, that unless you are using QuickBooks Premier or Enterprise Solutions editions, you will not be able to utilize these inventory features. With that, I will press forward.

Units of Measure (U/M) can show you what quantities, prices, rates and costs are based on. You will need to set up these units of measure and assign them to Service, Inventory Part, Non-inventory part, Inventory Assembly, and Group items.

The first thing that you must do is to decided which Unit of Measure (U/M) you will be using. Here is an example of the guidelines.

Single U/M Per Item: Select this mode only if you buy, stock, and sell each item using the same unit of measure. For example, you should select Single U/M Per Item if you buy an item by the gallon, keep track of it in inventory by the gallon, and sell it by the gallon. Another example would be a service business which tracks by one U/M, which would be by the hour.

If you have even one item that you buy, stock, or sell in more than one unit of measure, you must select Multiple U/M Per Item.

Multiple U/M Per Item: Select this mode if you buy, stock, or sell any item in more than one unit of measure. For example, you should select Multiple U/M Per Item if you buy an inventory item by the litre and sell it by the millilitre, or usingthe example in single U/M, the service business that now bills by the hour and by the day.

You could also have a product that you purchase from the vendor by the skid load, which has a certain number of boxes to a skid and inside those boxes, the product is sold by the dozen.

Next up – Enable the Unit of Measure.

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