Inventory management is a crucial aspect of any business, and QuickBooks software provides powerful tools to help you streamline this process. In this article, we will explore the ins and outs of managing inventory in QuickBooks, covering key features and strategies that can help you maintain accurate records, optimize stock levels, and improve your overall business efficiency.
Most businesses of different types have built their trust in QuickBooks Accounting Software to manage their business accounts. Out of many, one significant function of QuickBooks is Inventory Tracking. If you have set up your data in the correct format, you can easily add new inventory items to your QuickBooks. The process of importing and updating inventory can be achieved by successfully completing two different procedures, they are; enabling inventory tracking and importing the list of inventory with the updated quantities.
How to Import and Update Inventory in QuickBooks
Below are the steps that show you how to import data in QuickBooks. Follow each instruction carefully so that you are successful in importing and updating your QuickBooks inventory.
Step 1: Create an Excel Spreadsheet
- Create an Excel spreadsheet. This should include the inventory items in columns that you like to import along with header titles that match the column headers in the inventory list within your QuickBooks.
Step 2: Update Company File
Open your QuickBooks and then go to the company file that you want to update.
Step 3: Add Your Data to QuickBooks
- View the Program Menu and then click on File.
- Now, click on Utilities, then select Excel Files.
- A dialogue box will appear to you, click on Add Your Data to QuickBooks option.
Step 4: Select the Advance Import
- Next step, select the Advance Import and then click on Browse in order to locate the file, which you aim to import to your computer.
- You may select from Excel and CSV files.
Step 5: Select the Particular Sheet that you want to Import
- Select the filename by double-clicking on it and then select Open.
- If you see that the spreadsheets are Excel file which has a number of different sheets, then drop down the Excel workbook
- Select the particular sheet that you want to import.
- See that you don’t select those files that contain header rows.
Step 6: Choose a Mapping
- From the drop-down menu beside Choose a Mapping, click on Add New.
- A Mappings Window will be displayed to you.
Step 7: Select the Appropriate Quicken Header Title
- Select the name of the header titles in the spreadsheet in order to view a drop-down menu
- Select the appropriate Quicken Header Title
Step 8: Verify and see the Imported Item
- After you have completed mapping the header titles, click on Save.
- Also, press on Preview to verify and see the imported item.
- If it is incorrect, click on Cancel and re-map the columns again.
Step 9: Completed Mapping or Re-mapping
- If you have completed mapping or re-mapping click on OK and then select Import.
- A dialogue appears to you and presents the summary of your records.
- To end, select Save.
- The created inventory list will be seen on the screen with the new items.
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