Inventory > Purchase an Inventory Item
To record the purchase of an inventory item:
- From the Tasks menu, select Purchases/Receive Inventory. The Purchases/Receive Inventory window is displayed.
- Enter the purchase information including vendor you're purchasing from, quantity, and item purchased.
- Click Save.
When you save purchases for inventory items:
- The amount of the item in stock is updated (both stock items and assemblies).
- The inventory value is updated.
- For stock items, the inventory account is debited to offset the credit to Accounts Payable.
The cost is computed at the time the sale of the item is recorded using the costing method you chose when you set up the inventory item.