 QuickBooks Online 2022. Record receipt of inventory with bill linked to PO or purchase order. Get ready because it's go time with QuickBooks Online 2022. Here we are in our Get Great Guitars practice file. We set up with a 30 day free trial holding down control, scrolling up a bit to get to that 1 to 5% currently in the home page otherwise no one has to get things done page. Business view as compared to the accounting view if you wanted to change to the accounting view it's something you can do. By going to the cog up top and then switching to the accounting view down below we will be toggling back and forth between the two views as we go either here or by going on over to the sample company which is currently in the accounting view. Going back on over let's open up some tabs up top right clicking on the tab to do so duplicating the tab back to the tab to the left right clicking again duplicating again we want to put our reports in these tabs by the way that's why we're doing this right clicking again duplicating it again. I don't want you to feel like I'm just giving you busy work here digging the hole to fill it back in just for the fun of it we're going to go on over to our sample company file just to note that in the accounting view reports are located on the left hand side if we go back to the business view we're in the second tab the reports are located in the business overview and then in the reports closing up the hamburger going to be opening up one of the faves that being the balance sheet the financial statement report the big balance sheet going up top to change that range we're going to go from 010122 to 123122 run it and then go to the tab to the right and go back to the business overview we're in the reports section closing up the hamburger going down to the profit the loss the P to the L otherwise no one has the income statement changing the range from up top going to 010122 to 123122 run it going to the tab to the right one more time we're going to business overview we're in the reports again closing the hamburger I'm going to open a profit and loss again instead of the trial balance so we can take a look at the year to date as well as the current month of February that we're putting data input into going up top to change that range to just the month of February it's going to go from 020122 to 0202 let's do it 1231 1231 222 although there's no data that has been input after February let's run it okay back to the first tab you'll recall back prior in our epic story about get great guitars we had created an invoice for a new vendor named Fender and we had had a request from a customer called new music stuff that wanted a particular guitar from vendor which is a vendor we had not done business with so we set up a new vendor and we made a purchase order requesting the inventory the purchase order not recording anything on the financial statement because that doesn't have any we didn't pay anything and we didn't get the inventory we just made an order we ordered them to give us the stuff it's more like a request kind of but it's got a strong language it's a purchase order any case now we're going to say that we received it so we can track it we could track it by going into the vendor area and which is in the get paid or paid section in the business view if we were in the accounting view it would be in the expenses section and we then could go into the pay area down below and we can take a look at that new vendor that we set up named Fender going into it and there is our purchase order so that's the one works we're imagining now we got a box with these guitars these 20 square guitars and it has a bill from vendor the new vendor that we want to enter into the system we can also find this item and track it if we so choose by hitting the hamburger again and looking at the transaction at detail which is in the bookkeeping area they took it out of the vendor center if you were in the accounting view it would be in the expenses area kind of like the vendor center here but in the business view now it's under the bookkeeping area and the transactions up top and then closing the hamburger it's in the expenses area and then we can filter by our purchase orders just looking for the open purchase orders and we only have the one from Fender so that's another way that we can look up that particular purchase order now we could pay it we did it last time we paid it with with a check so in other words if I open the hamburger and I hit the plus button we basically are imagining we got basically a bill that's on the guitars that we receive the 20 guitars that a box of guitars we got in our warehouse the bill might even say invoice on it why because when Fender the vendor gave us the bill to them to their accounting system if they're using QuickBooks it would be called an invoice but to us we use the terminology of bill so you can use these names interchangeably in language when you're communicating with someone but in the software it means something specific last time we took that bill imagining we have a paper bill and we just entered it as a check or an expense form in the system paying for it as we got the bill instead of increasing the accounts payable this time we're going to put it in the system with a bill so we got the paper bill which is different than the form bill but we're going to take the paper bill and enter the form bill which means we're not going to decrease the check in account right now but rather we're going to be increasing the payable the accounts payable that's what the bill means that's what the bill form means at least going into the bill form and we're going to put this into the new vendor which was once again if you don't remember Fender Fender that's the new vendor and then QuickBooks I'm paraphrasing here but QuickBooks is like we've got this purchase order that you made do you want to add that do you want to like make this bill from the purchase order and we say yeah we do let's add it over thanks QuickBooks that's really helpful and then we've got the link up top so it says one link to the purchase order so we can see where the link is going which is super snaz and then I'm going to say this happens on the 22nd so we I just couldn't resist putting as many twos in there as we could so now we're looking 22222022 February 22nd 2000 double dues due date 324 and then we're going to scroll down and look at the items I don't need the category I'm going to squish that up or shrink it or minimize it is that the term I believe this is going to be the Squire guitar 20 of them now at this point here's the amount and then we also tagged on that we want the the customer of new music stuff now once again we've got this billable thing I'm going to check it off and play with it again which will link it when I turn around and sell it to to the customer so note that of course vendor or the new vendor fender doesn't care about the customer either on the purchase order or on the bill but and the bill isn't going to vendor it's going to be an internal document but the purchase order went to vendor but the point is the customer has nothing to do with the vendor the customer this is to track in our system so that we know that we're going to turn around now and create the invoice so in our scenario this new music stuff store requested these 20s choir guitars from a new vendor fender which we then made a purchase order for to get them specifically for this customer we have now received them therefore we're going to turn around shortly and hopefully invoice this new customer for the guitars that we have received we could do this with this linked bill item but you have to be careful because on the online version it kind of pulls it over as we saw in the past with the cost amount instead of basically picking up the sales amount sometimes and so you want to be careful with that but we'll play with it again. So what's this going to do? It's going to be a bill. The bill means it's going to increase the accounts payable so it's going to increase the accounts payable and the sub ledger for the vendor of all finding and the other side is going to go to the inventory account for the 1360 and the sub ledger for the accounts payable go into the sub ledger for fender as well as the sub ledger for the guitars for the skyer guitars let's save it let's close it let's check it out so save and close go into our reports to do the checking outing and we're going to go up top to the balance sheet let's run it again run it and then scrolling in zooming in and we'll go into the A wait a sec that's not right we're going into the AP the accounts payable the liability we owe fender the vendor for the 20 guitars they sent us remember we owe fender the vendor remember so it's down here the bill that's the one that is the one okay let's go back up top back on over to the balance sheet scrolling in again and then we're going to go and now the inventory is also impacted so let's go into the inventory to look at it drilling down with the zoom in feature and then we can see down here that inventory is also then here with a bill increasing it with a bill as opposed to last time when we increase the inventory if you recall with the check form so a little bit of different little bit of changing things up on the second month of operations here let's also open the sub ledgers related to the accounts payable and to inventory going to go to the tab to the right to do that right clicking on it duplicating it let's do another duplication well it's going duplicate again for the two sub ledges and then give it some time so an old computer so don't don't pressure it it still it still does its job just give it a little time that's all it needs if it needs a break just give it a break then closing the hamburger scrolling down we're going down to who you owe section and we want the vendor balance detail let's go to the vendor balance detail the summary report here and I got to change the date range because I'm currently working in the future that's how I do work I'm so ahead of schedule I work in the future custom time this happens let's make it at 1231 to 2 and run it and so there we have it the 3360 so we've got our one bill for the new vendor fender going back to the balance sheet and looking to double check double check there it is right there looks ties out let's do the same for the inventory account breaking it out with the sub ledger report going back to the reports on the left-hand side closing the hamburger typing in up top in inventory inventory summary inventory valuation summary that is let's work change the date to the future that's where I work I'm future oriented running the report so now we've got the quantity we have a negative amount here which is strange that shouldn't happen but that's okay it's a practice problem 9626 9626 back to the balance sheet we should then see that on the big balance sheet as well 9626 indeed we do let's go back to the first tab now if we were tracking this in like our bookkeeping area over here we might then go to like the the vendor center which is in the get pay pay area which if you were in the accounting view you'll recall is in the expenses area and we might say let's go into my new vendor Mr. Fender and we'll see that we have the purchase order and then the bill purchase order and then the bill happening here and of course we owe now Fender that 3003 60 we can also check that stuff out by going to the handbook up top and then we could go into the the activity by going to the bookkeeping area which if you were in this accounting tab which simply be in the same area in the expenses area and the expenses area and here but here it's in the transactions up top in the bookkeeping closing up the handbook II and then we're gonna go and hit the drop down and we've got the open let's go to all the all of the purchase orders let's look at all the purchase orders there they all are in all their glory and then if we would say I just want to see the open purchase orders guess what there are none because we received the stuff from the last one which was Fender if I wanted to look up if I want to look up the bill form that we made we can take a look at all bills perhaps if we so choose and I do choose that's what I'm choosing right now we can look at all the bills or I can just take a look at the open bills let's take a look at the ones that we have not yet paid thus far at this point there is that in future presentations we're going to pay that bill at some point most likely so we're gonna have to pay it unless we go bankrupt or something but I think we'll pay it we're gonna go to pay bill here and then that's another area we can sort of course the bills okay closing this out let's just make our trial balance so we can see where we're standing on those two firm legs debit left leg credit right leg going to the hamburger to do so and into the reports closing the hand buggy and then typing in trial balance because that's the easiest way to find the trustee TB it seems to me going up top and doing the ranging of the changing 010122 1231 222 run here's our two legs that we're standing on right now standing firm here we go debit side credit side and if your numbers match out to these numbers and you're following along nice good if not then try changing the date range sometimes it's a date issue range issue and we'll be doing a transaction detail report at the end of the practice problem which is a good report to diagnose any differences that are detected