Quickbooks Inventory Assembly:
Creating and Building
Quickbooks Inventory Assembly is available on Premier and Enterprise edition only. You use assembly items to assemble a new inventory item using any combination of inventory items, including other assembly items.
In creating the Quickbooks inventory assembly item, you can also include the costs associated with building this assembly item by adding non-inventory part items, service items and other charge items.
There are two steps in creating assembly items:
- Create assembly item. This is the actual creation of the assembly item. This is where you can define the bill of materials for this assembly.
- Build assembly item. If you need to increase the quantity on hand of your assembly item, you will have to build the assembly.
Create Assembly Item
Here are the steps on creating an inventory assembly item:
- Go to Home Page then click Items & Services.
- Click the Item button then click New.
- The New Item window appears. Fill out the information and click OK to create the item. Click here to know more about setting up Quickbooks Inventory Assembly item.
General information when setting up inventory assembly item.
- Select Inventory Assembly from the Type drop-down list.
- Enter the name of this assembly item in the Item Name/Number field.
(Optional) Subitem of - Check the Subitem of box and select from the drop-down list another item if you want this item to be a child of another item. Select this if you want to create a hierarchy of items.
(Optional) I purchase this assembly item from a vendor - place a check mark on this box if you buy this assembly item from a vendor. By checking this box, you can enter the purchase description separate from the sales description. Also, you will be able to enter the Manufacturer's Part number.
- (Optional) Select the unit of measure that you want to use for this assembly item. Click the link if you want to know more about the unit of measure.
- Enter the cost, COGS account, description, sales price and the income account for this assembly item.
(Optional) Cost - this is the total cost of this assembly item. This can be the total of the bill materials plus any markup you want this item to have. When you enter a cost on this field, this will autopopulate in the cost column in any transaction forms (i.e. bills).
COGS Account - enter the COGS account you want to use for this item.
(Optional) Description - enter the description that you want to be shown as default on a transaction form.
(Optional) Sales Price - the amount that you enter here will be the default amount that will auto populate on a sales form (i.e. invoices).
Income Account - select the income account where you want this to be tracked.
- Select the items from the drop-down list that make up this assembly item.
- In the Inventory Information section you enter the Asset Account, Reorder Point, On Hand, Total Value and the As of.
Asset Account - this is the account where you can track the current value of your inventory.
(Optional) Reorder Point - enter the number of quantity at which you need to reorder. You can set up Quickbooks to remind you when the quantity reaches the number that you enter on this field.
On Hand - enter the number of available quantity you have for this item. Otherwise, enter 0.
Total Value - this is the cost multiplied by the on hand you enter for this item. Quickbooks automatically computes for this field.
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Build Assembly Item
You perform the assembly build if you need to increase the quantity on hand of your assembly items. The assembly's components are deducted from the inventory if they are inventory part.
To build an assembly item, you go to Vendors menu > Inventory Activities > click Build Assemblies.
General information in building assemblies:
- Select the Assembly item that you want to build from the drop-down list. You will see the details of available quantity and the build point for this assembly item.
- The table in the figure below shows the components or parts of the assembly item. This table also shows how many quantities are needed to build the assembly item.
At the bottom of this figure you will see the maximum number of quantity you can build. In the Quantity to Build box, you enter the quantity you want to build for this assembly item.
- In the figure below, enter the date, build ref. no. and memo for this assembly build.
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