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Chapter 15. Keeping Track of Your Invent... > Raw Materials, Work in Progress, and...

Raw Materials, Work in Progress, and Finished Goods

If your company is a manufacturing company producing products from raw materials or parts and supplies, you will find that QuickBooks falls short of being capable of providing you with the inventory accounting that you need. You can keep track of individual raw material items with the QuickBooks inventory feature, but no provision is made for transferring these items to a Work in Progress or Finished Goods status.

The only way to properly account for manufactured goods in QuickBooks is to record raw materials or parts as inventory items at acquisition. Then, when the end product has been manufactured, create a sale to yourself of all the individual parts, and create a purchase of the finished product item into a new inventory account.


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