Keeping Track of Orders in Progress with Suppliers
Ask the Accountant…
Question: What report will tell me what orders are in progress with suppliers?
Answer: Open purchase orders in QB Premier are orders that have been submitted to suppliers and are in production. Once you receive the invoice from the supplier, you adjust the purchase order to match the supplier invoice exactly, and then enter a bill against the purchase order. Entering a bill puts that into accounts payable and closes the purchase order.
Because of this, a list of open purchase orders will tell you which orders are still being produced and which supplier invoices you have not yet received. This could be a signal to you that it’s time to check with the supplier if the order should have been complete by then.
To get a report of open purchase orders, go to:
Reports > Purchases > Open Purchase Orders.
Please email your questions to Harriet at Ask The Accountant.
QuickBooks Premier and Enterprise can be modified to better serve ad specialty distributors. Harriet Gatter is a QuickBooks ProAdvisor, a former accounting professor and a former ad specialty distributor. She advises ad specialty distributors to use QuickBooks Premier and Enterprise, often in conjunction with other industry-specific software, to manage the complexities of the ad specialty business, with the results being time saved, errors eliminated and an overall accurate accounting of your business. Contact her at email@example.com.