How to Import Inventory Into QuickBooks

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When you have inventory records in the QuickBooks maintained, it helps in keeping a track of the sales and availability of the products at a particular point in time. While you shift completely to QB Online, you have to import the inventory data safely and accurately to your new software platform, right?

To ensure the inventory is properly imported in QuickBooks, you have to follow different steps, falling into two different categories, one of which is to ensure the Inventory Tracking option is enabled. The option when turned on will make the import and update process for the inventory easier using an Excel sheet.

Steps of Import Inventory into QuickBooks

Total Time: 30 minutes

Prepare a Spreadsheet

πŸ’  Go to Insert option in the menu bar
πŸ’  Click on Worksheet
πŸ’  Enter Inventory in column A of the excel sheet
πŸ’  Make sure to add this for each item on the spreadsheet
πŸ’  Make column B, enter the item’s name
πŸ’  In column C, add a description for the item
πŸ’  For column D, E, and F, have Sales Income, Cost of Goods Sold, and Inventory Asset as your field names respectively
πŸ’  In column G, enter the quantity or column in which the inventory items are available
πŸ’  Add the cost of each item in column H. Use standard format – 0.00 and not use the dollar sign.
πŸ’  In the Column I, enter the sales price
πŸ’  For column J, add the number of units to be left in stock before being notified to order additional items.
πŸ’  Column K should be left blank. This will be for the total value of the inventory on the basis of its cost per unit. This will be done automatically when you are using QuickBooks
πŸ’  Column L will contain the date when the inventory presently in stock would affect your accounts. The format should be DD/MM/YYYY
πŸ’  In column M, add manufacturer part number. It’s optional
πŸ’  Put all the details under specific columns for each item that you deal with it.

Also Read: How to Produce Physical Inventory in QuickBooks

Import Inventory in QuickBooks and Update

πŸ’  Go to the File menu
πŸ’  Click Utilities
πŸ’  Choose Import
πŸ’  Choose Excel Files
πŸ’  Go for Advanced Import
πŸ’  Click on Browse to locate the Excel sheet you want to import
πŸ’  Choose to Open
πŸ’  Choose the worksheet containing the required data
πŸ’  Uncheck the This Data File Has Header Rows box
πŸ’  From the drop-down, click on Choose Mapping
πŸ’  Choose Add New
πŸ’  Enter Inventory Report under Mapping Name column
πŸ’  Choose Import Type
πŸ’  Select Item
πŸ’  Choose to Save

Review the items properly and once reviewed, import them

Final Words

In such a scenario, you are free to call our representatives on QuickBooks support phone number  and they will guide you through the process.

Don’t forget that we are available to assist you 24/7. Call us anytime and get guidance.

Phone

+1347-967-4079