Can I use the Quickbooks POS to track Inventory only and NOT send inventory adjustments to the Financial File?

   We have a small company and track cost of goods sold via paying for invoices (purchase orders) for inventory items.  When these items are ordered, they hit the 'Purchases' accounts which is our COGS account. 


   I would like the journal entries that Debit COGS and Credit Inventory asset from the POS to cease being pushed to our financial copy.  I'd like the POS to track inventory internally, then we would make a monthly AJE to adjust inventory value (versus all of these AJEs being pushed to our financial file).  This JE creates another issue- it causes our COGS to be inaccurately inflated as COGS is already accounted for when we purchase the inventory (before it is sold).  



Please advise, any information would be helpful!

Answer

3 people found this helpful

If you change your account mapping in POS (File > Preferences > Company > Accounts) so the Asset account for your inventory items is Cost of Goods Sold instead of Inventory, the journal entries will no longer be created.

You probably also have a lot of item receipts that need to be deleted.

If you don't want to track inventory, you should probably use non-inventory items instead.

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Ruth Perryman , Intuit Premier Reseller

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