Private Label ScenarioQuickBooks Lesson from Desktop Pro PC
I was recently asked about how to account for Private Label Inventory in a warehouse waiting to replenish stock at Amazon. It reminded me of a lesson from the 2017 QB Pro PC course. In the new 2020 course, I left out the lesson because it is specific to Private Label and the majority of my students do RA, OA or wholesale. Keeping the cost of the course down and to focus on the most requested items, I opted to not update it. Pooh on me! Sorry for the outburst. 🙂 I decided to pull it out for those who do PL and need a little info on the subject.
It is just one 10-minute video on the accounting steps from deposit to receipt of product and then to inputting Inventory Items for tracking inside QB. If you do not track your Private Label items indiviually, you can stop with the Inventory Asset posting. I’ll share more on that in the lesson.