Author Topic: Pushing PurchaseCost on invoice line items  (Read 1233 times)

johnlewisdesign

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Pushing PurchaseCost on invoice line items
« on: November 19, 2014, 09:41:59 AM »
Hi guys

Is there a way to push PurchaseCost at invoice line item level? I have pushed the PurchaseCost for all stock via an ItemInventoryMod but the report is still showing mainly zeros in the cost column. I can't see anything in the OSR. If not, is there something in the QB settings I've missed? It's driving me nuts.

Thanks!

John


Geoffrey Gerhard

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Re: Pushing PurchaseCost on invoice line items
« Reply #1 on: November 19, 2014, 01:03:03 PM »
Short answer: no.

QB will relieve the assigned Inventory Asset account for ItemInventory InvoiceLines. Pushing the PurchaseCost via ItemInventoryMod has no impact on the InventoryItem Inventory Asset value, it only affects the value shown the next time a user creates a PO (and maybe a Bill) that includes that Item.

If there is no average cost for an ItemInventory InvoiceLine as of the Invoice's TxnDate, the corresponding Inventory Asset account remains unchanged and is not reflected in that Invoice's CostOfGoodsSold value. The only way to change the ItemInventory cost is to make an InventoryAdjustment. The ValueAdjustment node is currently not working in newer versions of the qbxml (those > 10) standard, which means manual adjustments via QB's UI.

I've had clients track and identify the Inventory Asset value of an Invoice on the FMP side and push that value to QB as a General Journal entry, but doing it that way is relatively complex.

HTH!

Geoffrey Gerhard
Creative Solutions Incorporated
14000 Creekside Drive
Matthews, NC  28105
704) 814-6852

johnlewisdesign

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Re: Pushing PurchaseCost on invoice line items
« Reply #2 on: November 20, 2014, 02:47:18 AM »
Ermmm

So how do I get the margin and how do I get the cost to show on a report?

Costs stored on the invoice at Inventory Level:

CostSellMarginQB thinks it cost
52.85121.5068.650.00
151.01351.00199.990.00

This is for a brand new invoice with costs present. Granted, no PO was ever raised in QB but so what. There's still a cost and sell on the items. How to report on all those costs right now - the total of all costs in the system on a report at this point in time?

Inventory tracking is turned on in QuickBooks and has been for >2 years. The costs are a relatively new addition for the most part - but the sales history is not as there's thousands of invoices tracking stock. 

If I change a tax value I can retrofit it to old invoices - QB asks me if I want to - how do I do it with PurchaseCost? Send years of fake POs? There has to be another way to show a cost on a report of invoice report, it's showing on the item list. They manufacture their items not buy them in. They use the Manufacturing and Wholesale Edition. The clue's in the name. Materials are bought in China by a separate company and assembled in US. How to track with no POs?

This is a bit of a nightmare..

(Thanks btw Geoffrey it is appreciated!)
« Last Edit: November 20, 2014, 03:04:45 AM by johnlewisdesign »

Geoffrey Gerhard

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Re: Pushing PurchaseCost on invoice line items
« Reply #3 on: November 20, 2014, 11:38:23 AM »
Buying an Inventory Item updates the average cost. An InventoryAdjustment can update the average cost when done within the QB UI. Building an Assembly Item updates the average cost of that assembly based on the current Qty on Hand and the cost of all raw materials used in the build.

It sounds like your company/client is doing none of these things.

There are some potentially complex accounting questions that your description of the operation raises. From your description, it may be that the only value added to the Inventory would be the costs of assembly. Does your client/company pay the Chinese company for the materials? What type of Items are being sold? How is their cost entering QB? How is the Quantity of Items being incremented?

Geoffrey Gerhard
Creative Solutions Incorporated
14000 Creekside Drive
Matthews, NC  28105
704) 814-6852