Episode 14: Invoices and Items (continued)

March 14, 2010 By 2 Comments

I continue the discussion about using QuickBooks items on invoices, bills and checks.  I use a brand new company file with no other transactions to demonstrate the accounting that goes on behind the scenes when using different items.  The discussion veers into inventory territory for a while, but that is all related to items anyway.

Do you have a specific item related question?  Let me know in the comments section for this episode!

This post was written by Michael Debyah.

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Comments

  1. Steve says:
    August 23, 2011 at 2:21 PM

    At 15:20 you said Quickbooks always does an average cost. No way to do FIFO or LIFO?

  2. Mike says:
    August 23, 2011 at 3:11 PM

    Hi Steve – Yes, that is correct. QuickBooks only does average cost for inventory. There is no way to do FIFO or LIFO. I think there are some third-party tools if you need to do that, but I have no experience with them.

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