 Here we are in our QuickBooks online test company file using the accountant view as opposed to the business view you can toggle between the two views by going to the cog up top and switching the view down below duplicating some tabs to put reports in like we do every time right click on the tab up top to duplicate it well duplicate again right clicking and duplicate once again back to the middle tab reports on the left opening up one of the favorites which of course is the balance sheet report as it's thinking tab into the right reports on the left closing up well let's hold on a second profit and loss then close up the hand boogie then we'll change that range from 0401 2 3 to 05 3123 that's the time frame we're working with this time there's our profit and loss of thus far tab into the middle closing the hand boogie scrolling up and ranging to the changing the same range as before 0401 2 3 to 05 3123 and run it back to the tab to the left noting that we're doing an e-commerce situation selling inventory but not on ground in a store but rather online in the cloud with the help and use of third-party software such as a Shopify or an amazon for example we're breaking out the sale side and the inventory tracking side tracking our inventory on a periodic type system with the help and use of an excel sheet that's going to be doing it in a weighted average method we started last time doing this and if you weren't following along then you'd probably want to see that one first because we're continuing with month number two of this exciting saga of of the inventory so now we're going to go back in here now last time we entered this in but i didn't make it into a formal table so now i'm going to do month number two but let's make this into like a formal table now so i'm going to select this whole thing i want to make sure it picks up everything in here i'm just going to make it into a table which has its pros and cons for adding new data i feel a little bit more secure when it's actually in a table format that it's not messing things up but sometimes it copies formulas in a way that you don't really like as well so there's pros and cons but we're going to select the whole thing and go to the home tab or not the home tab i'm in the home tab i'm going to the insert tab tables and i'm just going to make it into a table and so it's all selected that looks good uh my header has it has a header good and now it made it really wide because it it uh it extended all of the headers so now i'm going to reformat all of my headers to be basically the length uh that i want them to be so we'll redo all of the headers which yes is a little tedious but it's okay it's okay we're going to just make this nice and tight boom bring that in a bit this one needs to be in a bit i should probably make this exact to the other one from the other area but there we go now notice it also on the table headers when i made it into a table it it put a little number by each of the headers so it's distinguishing each of the headers because i had repeat header names now you might want to go in into each of these header fields and change these numbers to be like uh product two like all of these i might put all of these to correspond with a number two for product number two and what that could do is it could help us if we were ever trying to create a fancy pivot table or something to distinguish our headers here so change all these to product number two pour a hamplow and so let's do that and then let's make this skinny and this skinny and then this one i might change all the headers so like product number three i'll just put a three next to all the repeat headers so that if i was to make a pivot table that i wanted to do something fancy with then i could know which headers go where number three and there we go double click number three almost done mui saruka number three and this one number three and let's bring these in a bit as well all right so there is our table okay so now we we did the first month of uh of april of our operations and now we're going to continue on the second month and we're just going to to buy stuff as we need it so we're following along with our Shopify or our online store and we're looking at the units and seeing if we have the units that we need to to meet the need and we're saying that that we're getting short on some of the units so we're going to make a purchase in may so we're going to make the purchase and just record them on a cashed based system so let's say on five one and notice as i add five one it added another cell to my table and it pulled down most of the cells that i want to pull down automatically didn't pull this one down but notice that it's getting more automatic that's the point so this is going to be product number one which is going to populate kind of automatically once i start to populate it let's say that we're going to buy six more of these ones so now this is populating automatically because it's this plus this which is just six now and then we're going to buy them for the cost and i'm going to say that we buy them for 23 units each $23 each now if i bought this and i paid $138 plus the sales tax generally it's going to be included in the cost usually then i could say 138 divided by six would be 23 per unit right i might have to do that kind of the other way and then i'm going to copy this down just so i can have my formula and it's not doing anything because this isn't a sales formula this is the purchase side so this is the total cost and here's our total ending balance there was nothing in it before so that's where we stand at this point and then on product number two we're not buying any product number two or product number three at this time so let's just make sure that everything copies down like they should on these other ones so all the columns copy down so everything's copying down that needs to except for this one we copy that down and then same thing over here so let's just copy this one down and there we have it now the totals look good because now the the total is totaling up these ending balances and then the change is going to be this minus this which also so so that's going to be the purchase that we're going to make which also ties out to this number so let's record the purchase in uh quickbooks now and once we do the purchase then our ending inventory will change by that be up to 2948 so we're currently at 2810 so if i go back on over here and say quickbooks reports we're at 2810 we're going to make a purchase which we would see come through the bank feeds if we're on a cashed base system i'm just going to represent that with an expense form and we're going to say that that we're paying let's just use vendor number one again that's who we buy stuff from and this is going to be on five one and inventors the other side and we just purchased then how much was it again do you remember how much it was i forgot i'll tell you that 138 138 thank you 138 okay so this is going to increase inventory other side going to decrease the checking account let's save it close it check it out and go to our balance sheet running the balance sheet we should have a decrease to the checking account and let's see this on a side by side by the way hitting the drop down month by month side by side and we can see kind of our inventory at the end of april and then we made a change in the inventory purchasing it here and then uh the other sides on the checking account no impact on the p&l let's go to the p&l and let's check that one out in a month by month side by side as well so nothing on the uh this one should this is the sales i'm on the cost side so nothing's on the cost the goods sold for may thus far okay so let's go back on over here and the ending balance by the way is that two nine