When you make a purchase by check or credit card, you enter an expense to keep track of what you purchased. When you enter the expense, you can indicate whether the expense is for items you track as inventory.
If you are purchasing items you track as inventory that you previously purchased at a higher or lower cost, WorkingPoint adjusts the average cost of the item as needed.
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Note: If you start tracking inventory on an existing item BEFORE that item has been sold (appears on future invoices), WorkingPoint tells you how many have already been sold. You must enter a quantity that is equal to or greater than the quantity already sold to begin tracking inventory. WorkingPoint will also recalculate the quantity available and the average cost of the item for transactions on or after the addition of inventory. More |
To add inventory through a purchase you made:
Do one of the following:
Go to the bank account you are making the payment from and click Record Transaction, then click Payment or Purchase.
From Home, click Record Expense, then click one of the payment options.
Fill in the payment information. Show me how
To add inventory, check the "This purchase contains items to add to inventory" checkbox.
Choose the item you are adding
inventory to, or click 
to add a new item on the fly.
In the Qty field, enter the quantity of this item you are purchasing.
In the Cost Per Unit field, enter the cost to you for each unit.
This is the amount it cost you to purchase the item per unit.
Press Tab and WorkingPoint calculates the total for that item.
Click Add Line if you need to add additional inventory for items purchased.
If you are purchasing services or other expenses, like shipping, with this purchase, in the Bookkeeping Account field, choose the account to assign to the items you purchased.
The account you choose helps you categorize what you are spending your money on.
(Optional) Enter a description of the item you purchased.
Descriptions might be useful to remind you what you spent your money for.
Enter the amount you spent.
Click Add Line if you need to assign part of the purchase amount to another account.
Click Save.
