You received the following urgent email from Lewis Gallen this week. Dear QBO Advisor: Help! I...

 

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You received the following urgent email from Lewis Gallen this week. Dear QBO Advisor: Help! I am invoicing my customers for inventory items and QBO is not decreasing my inventory and increasing my COGS as it should. When I bill my customers for the inventory materials, it DOES NOT affect the COGS or the Inventory accounts. It only affects my Income account. Please advise ASAP! Discussion: Respond to Lewis Gallen's email providing an example of what should happen to account balances when inventory items are properly set up and suggestions on what may have caused his issues. A thorough and substantive response would include all of the following: 1. An example of the impact to accounts when a sale of inventory is recorded. 2. At least one suggestion of what error may have occurred in Lewis's inventory setup to cause the issues. You received the following urgent email from Lewis Gallen this week. Dear QBO Advisor: Help! I am invoicing my customers for inventory items and QBO is not decreasing my inventory and increasing my COGS as it should. When I bill my customers for the inventory materials, it DOES NOT affect the COGS or the Inventory accounts. It only affects my Income account. Please advise ASAP! Discussion: Respond to Lewis Gallen's email providing an example of what should happen to account balances when inventory items are properly set up and suggestions on what may have caused his issues. A thorough and substantive response would include all of the following: 1. An example of the impact to accounts when a sale of inventory is recorded. 2. At least one suggestion of what error may have occurred in Lewis's inventory setup to cause the issues.

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