There can be instances when you get the inventory without any bills attached to it. In such a situation, you are supposed to add the bill against the inventory. By doing so, you can easily record the corresponding pay for that particular item receipt. However, not everyone knows how to create an item receipt in QuickBooks. So, if you are looking for such a guide, we are here to enlighten you thoroughly.
In this guide, you will learn about Item Receipts in QuickBooks, and how to create item receipt in QuickBooks Online and Desktop versions. In addition, you will teach you to enter bills if the item receipt is already recorded.
Before you dive into creating an item receipt, we want to draw your attention to what Item Receipt is. Item Receipt is basically a document that helps in recording the arrival time with goods, items, and the quantities that were ordered using the purchase order.
An item receipt is generally created when a company gets a shipment of the ordered items that arrives from a vendor but no bill is attached. By creating and adding (Item Receipt) the document, you can quickly add the items to the inventory. As you do so, the items will be available to manufacture sales, activities, and other inventory activities.
This should be noted if you do not use an item’s receipts then the transactions of inventory will only occur after the bill is successfully posted. In simple words, if the company receives a shipment of an inventory but does not add the bill then you have to create the item receipt in QuickBooks.
To create item receipt in QuickBooks, you need to add the relevant bills against the inventory. As you do so, the payable amount can be recorded easily for the item receipt. To get started with the procedure of creating an item receipt, you just have to visit the homepage and click on the Enter Bills against Inventory option from the Homepage. As you view the Select Item Receipt window, choose the vendor, and select the correct date for your bill. Later, you can select your item receipt, and save the details.
Note: This should be noted that creating the bills against an inventory is a part of the A/P workflow in QuickBooks Desktop. Thus, we suggest you review the vendor-related transactions and the list of workflows.
To know how to create an item receipt in QuickBooks, follow the step by step guide:
Once you are done performing these steps, continue paying the bill. This is how you can prepare the item receipt against an inventory and pay the entered bill.
Those who have already recorded the item receipt can follow these instructions to create item receipt in QuickBooks Desktop:
This is the whole procedure of creating and entering the bills against the inventory. Make sure you add every detail carefully in each field. You can also enter the bills when the item receipt is recorded already in your QuickBooks account.
Users need to create the item receipt when they have to enter the bill against an inventory for which they have not received any bill. As soon as you add the bill, you can pay for the items you have purchased. In this guide, we have shown how to create an item receipt in QuickBooks. We hope you find the guide useful.
To know how to record credit card payments in QuickBooks, you can read this detailed guide.