Recording the Receipt of Items with QuickBooks 2011 - dummies

Recording the Receipt of Items with QuickBooks 2011

By Stephen L. Nelson

When you receive items from a vendor, you can record the receipt in QuickBooks. You typically do this when you want to record the receipt of an item even before you receive a bill for the item. For example, in any business with inventory, you want to know exactly how much inventory you have in your warehouse or on your store floor. You don’t want to wait to adjust your inventory records for these purchases in QuickBooks until you receive the invoice from the vendor. In this scenario, you record when you receive items.

To record item receipts, follow these steps:

  1. Choose Vendors→Receive Items.

    QuickBooks displays the Create Item Receipts window.


  2. Select the vendor from whom you’re receiving items from the Vendor drop-down list.

  3. Select any purchase orders (POs) that you’re receiving items on.

    If open purchase orders exist for the vendor, QuickBooks displays a Message box. The Message box asks whether you want to receive items against one of the open purchase orders.

  4. Confirm the receipt date.

  5. Use the Total box to identify the total value of the order received, if available.

    QuickBooks calculates this total for you by adding up the individual item costs, so you can wait until later.

  6. (Optional) Use a reference number.

    You can use the Ref. No. field to provide a reference number. For example, you may want to reference the vendor’s order number.

  7. (Optional) Provide a memo description.

  8. Describe the items received.

    Use the Items tab to identify the items that you’ve received.

  9. Describe any related expenses.

  10. Click either the Save & Close or Save & New button to save the receipt item.

    If you click the Save & Close button, QuickBooks saves your item receipt information and closes the Create Item Receipts window. If you click the Save & New button, QuickBooks saves the item receipt information and redisplays a fresh, clean, cleared version of the Create Item Receipts window. You can then use the window to describe the receipts of some other set of items.