Inventory Tracking with Stacy Kildal and QuickBooks Online

For any business that carries product inventory, the Inventory Tracking feature lets you manage and track orders with confidence. Know at any time which items are in inventory, how much of them you've sold & how much you have on hand. Rest easy knowing that all your financial statements are accurate because the Inventory data is automatically updated behind-the-scenes. Because QuickBooks Online uses standard inventory cost accounting rules, your inventory purchases are not treated as expenses, but are instead accurately reflected as Cost of Goods Sold (COGS). Stay IRS–compliant when purchasing & selling items. To determine the cost of items, QuickBooks Online uses the first in first out (FIFO) method, which is compliant with generally accepted accounting principles (GAAP) and accepted by the IRS. Stacy Kildal, CEO of Kildal Services is our expert for this exciting event. This session will cover: • How to set up an inventory • Purchase an inventory • Adjust on hand quantities.