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Inventory - QuickBooks Desktop

By Amelia Dwyer

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Inventory and products should be tracked in Revel however the cost of any inventory will be transferred to the integrated QuickBooks Desktop Company.

When inventory is manually changed in Revel, costs will also be sent to QBDT as Journal Entries and Bills (see further for which one). Waste, Used, Return, and Initial Sync when changed in Revel will create Journal Entries in QBDT. The quantity on hand will not be altered in QBDT (please track this in Revel and if necessary, manually alter in QBDT) but the cost of goods will. 

On the Revel URL, go to the Inventory tab and tick Show all Actions. There are five options per product, Receive, Damage, Transfer, Actual, Reset Cost and Reset.



Legend of Terms -

Receive - Select this to add new stock to the existing inventory. Add the quantity, choose the unit, input the cost/unit for this received, and any remarks.

Damage/Waste - Damage/waste any items that are no longer in inventory but were not sold. Input the quantity, the unit type, whether to adjust cost or not, and remarks. Entering a remark is required.

Transfer - Move inventory from one establishment to another.

Actual - This is the stocktaking function. This will override whatever inventory is available to how many it is set here. Adjust cost will adjust the cost per unit to reflect the new actual amount. The total amount it is worth will not change but the cost per unit will change.

Reset Cost - Change the cost per unit here.

Reset - This will completely reset whatever values for cost, inventory, actual, etc back to 0. This will remove all historical data for this item inventory.

If inventory is Received in Revel using the Receive action, a Bill will be created in QBDT and will appear as from POS Default Vendor. The system cannot connect a Vendor to the Bill in QBDT without a PO being made in Revel. This is because, when inventory is received using the receive action, no vendor is being attached in Revel, therefore it cannot attach one in QBDT either.

Please see this guide for further information on Purchase Orders and QBDT;

https://support.revelsystems.com/hc/en-us/articles/205582489-Purchase-Orders-QuickBooks-Desktop

The Damage/Waste feature in Revel will create a Journal Entry for wastage in QBDT.


Transfer in and out will also create Journal Entries in QBDT.



The Actual feature in Revel shows as Adjustments in QBDT in Journal Entries.


Reset Cost in Revel also shows as a Journal Entry as Reset Cost.

Reset action also reflects as Reset in QBDT as a Journal Entry.

Inventory for Sales made via QBPOS reflects as a Journal Entry in QBDT.

Refunds in Revel also push over as a Journal Entry to QBDT.


Each inventory action will come over as a separate Journal Entry daily to QBDT from Revel however you can also see a summary of these journal entries by date range.


For more information on Inventory and Inventory Actions in Revel please see;

https://support.revelsystems.com/hc/en-us/sections/201066115-Inventory-Manual



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