If you have a negative inventory, you’ve either sold more than you have, or you’ve neglected to update your inventory database. Perhaps the biggest is that it makes your financial information inaccurate. There are a lot of disadvantages when your QuickBooks account displays negative inventory. They also might neglect or forget about manually updating your system as new inventory comes in, which is an experience we had with a customer recently. One of your employees could overlook a negative sign when inputting inventory numbers, or make an incorrect calculation in your system. In this case, you’d input a negative number into your inventory.Īnother more common possibility is human error. As a result, you may choose to sell more of your product than what’s logged into your inventory. There are a few ways that your business might have negative inventory quantities - some intentional, some unintentional.įor example, demand for your product might exceed your current supply. Keep reading to learn more about negative inventory, and more importantly, how to fix negative on hand inventory. If kept unchecked, negative inventory can have a devastating impact on your business. Negative QuickBooks Online inventory certainly isn’t a new issue, but it is a persistent one. This is because, for one, there are plenty of opportunities for human error.Īnother issue is that QuickBooks is designed specifically for accounting purposes, so depending on how complicated your inventory system is, you risk jumbling up valuable information.īut QuickBooks Online inventory tracking has one glaring problem: negative inventory. Setting up inventory in QuickBooks Online is more complicated than it needs to be.ĭoes QuickBooks keep track of inventory? Yes, but there are limitations and pitfalls that you need to be aware of when using QuickBooks for inventory purposes.Įven if you know how to set up items in QuickBooks, you must be meticulous when tracking inventory.
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