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#1
08-10-2012, 05:25 PM
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Profit Margin Report Does Not Include Items From Inventory
Hi, this is my first year using QuickBooks Pro Edition. I pulled a report to show me how much profit is made for each job BUT... i noticed when reviewing the report (coz the margin seems to be off) that it didn't include the items from inventory....rather it only records invoices paid against the job.
 Is there a way to include the inventory items?? Thanks! Kaye 
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#2
08-12-2012, 04:23 PM
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If an item is in Inventory I don't think it participates in the Company P/L.
It is an asset and awaits thru COG to be part of P/L.
__________________
Colorado Springs and Waitsburg, Washington QB Pro 2012 used for two farms and personal
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#3
08-13-2012, 11:02 AM
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Thanks cojhl2!
How do I make corrections then to make the Profit Margin accurate? I hope there is a way and an easy one. Crossing pinkeys!! 
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#4
08-13-2012, 12:19 PM
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Kaye
When you created an invoice for the job, did you not include parts taken from inventory as line items on the invoice? What we have here is an accounting/bookkeeping question and not just QB.
__________________
Colorado Springs and Waitsburg, Washington QB Pro 2012 used for two farms and personal
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#5
08-13-2012, 01:14 PM
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All parts/items are included as line items on the invoice that’s why I’m a bit confused.
And inventory items/parts have COG and sale price. I might have missed something so I’ll keep exploring. 
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#6
08-13-2012, 01:46 PM
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Hi Kaye,
yes I can understand your confusion.. There msut be something amiss in the item definition. Hopefully someone else more adept re Inventory will jump on this thread and help!!
__________________
Colorado Springs and Waitsburg, Washington QB Pro 2012 used for two farms and personal
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#8
08-14-2012, 03:27 PM
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Thanks cojhl2! I've started going through my inventory items and making sure that they all have COG and sale price attached. Hopefully this will resolve the issue but it's tidious at the moment as I have to go through all of them!! Oh well....life in the fast lane. Lol!
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#9
08-14-2012, 03:31 PM
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Hi Deidre56!
We setup QB to accrual so the reports should be in accrual unless I miss something. I will revisit the report again. Thanks! Kaye
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#10
08-14-2012, 03:32 PM
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Thank you all for being patient and for giving me some ideas.
Is it much appreciated!!
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