Entering Inv detail from MAS90 to Quick BOoks

 There are two ways to do this: one you can make a bill for the items from a vendor and include the original price of the items that you paid or you can enter the amount manually for every item and change the cost.

When you make the original items for your inventory parts be sure that you leave the section that says "cost" at 0 and only include a number in the "sales" section or your revenue will not carry over. When you purchase the item for the first time a little pop up will ask you if you want to update the value and click yes. Enter all of the items in the bill and select close. If you pull up your inventory item, the cost will be updated. When you purchase another item from vendor, the average cost will be calculated based on the purchase price and the amount currently in inventory. 

The best way is to do an inventory adjustment. After you have your items set up click on the inventory adjustment window and select the value adjustment box, enter the current quantity on hand and total value from your inventory valuation report. For the adjustment account choose "Owner's Equity", ignore the warning that will pop up and quickbooks will automatically calculate the average charge of the item.

Here are a few tips for you to keep in mind when you set this up on QuickBooks. Start by entering the balances from your Balance Sheet (minus A/R, A/P, Inventory, Sales Tax Liabilities). Second enter the balances from your P&L minus revenue and use retained earnings as your credit offset. The only accounts that you CANNOT do a journal entry to enter beginning balances for are Accounts Payable, Accounts Receivable, Sales Tax Liability, Payroll Liabilities (if you use QuickBooks Payroll) and Inventory. For A/R find the open customer invoices, make an other charge item called "opening balance" and link that up to your retained earnings (or income/sales if you want to be specific). Use this item for every open invoice that you have. With Open A/P use the same item "opening balance" just be careful not to post the expense twice. Subtract the amount of revenue from the open invoices from the total revenue (Open-Total) and use this amount to credit Sales/Income and debit retained earnings. If you run your P&L you should see that everything should be there. Next thing you are going to do is do an adjustment for sales tax owed. (the hard part) You have to set up all of your taxable and non-taxble items as well as sales tax amounts. Click on the icon that says "pay sales tax" and select the sales tax liability account as the adjustment account and enter the amount that is due for every agency as well as when they are due. Finally you have to reconcile your payroll liabilities and expenses through various journal entries.

I do installs/troubleshooting for a living and the first time is always a pain because if you don't have all of the information nothing is going to show up on your reports properly and 9 times out of 10 the retained earnings doesn't balance. There is a big learning curve with QuickBooks. Dont be afraid to ask questions and good luck.