Dx5+QBO: Finished Product Actions

Inventory (finished product) tracking requires Quickbooks Online Plus; Simple Start and Essentials subscription will not allow for the linking of finished products to your Quickbooks account. Even without inventory tracking, all account-level transactions will update, keeping everything accurate.

If inventory tracking is included in your QBO subscription, all finished products should be pushed or linked to QBO products during setup.

 1.     Add New Finished Product

• DISTILL x 5:

• A new product and/or size will be created with a starting quantity of 0 units and a starting total inventory value of $0.00.

• Quickbooks
• For each size created in Dx5, an equivalent product will be pushed to Quickbooks.

2.     Add Size: See Add New Finished Product

3.     Transfer Inventory

• DISTILL x 5:

  • Product moves to new warehouse and/or tax status as determined by user. No change in total inventory value or average unit cost is recorded.

• Quickbooks: No action 

4.     Adjust Quantity

• Action: Addition
  • Reason: Received
    • DISTILL x 5
      
      • Inventory quantity is revised to reflect the addition of product.
      • Average unit costs adjust to account for additional product at the specified cost per unit.
    • Quickbooks
      • The quantity of the applicable finished product increases to accommodate the additional units with a value of $0.00 per unit.
      • The total value of Inventory:Bottled Spirit increases to account for the total received value.
      • COGS:Bottled Spirit COGS remains unchanged.
  • Reason: Inventory Overages
    • DISTILL x 5
      
      • Inventory quantity is revised to reflect the addition of product
      • Average unit costs adjust to accommodate additional product, though total inventory value does not change.
    • Quickbooks
      • The quantity of the applicable finished product increases to accommodate the additional units with a value of $0.00 per unit. No changes are made to the value of Inventory:Bottled Spirit.

• Action: Depletion
• Reason: Withdrawn Free/Without Payment of Tax, For Exportation
  • DISTILL x 5
    
    • Inventory quantity is revised to reflect the depletion of product
    • The average unit cost remains stable
  • Quickbooks
    • Inventory quantity for the affected finished product is adjusted to reflect the depletion of product
    • The total value of inventory depleted moves from Inventory:Bottled Spirit to COGS:Bottled Spirit COGS.
    • An invoice is created for the specified customer and the defined sale price.
• Reason: Dumped for Further Processing
  • DISTILL x 5
    
    • Inventory quantity is revised to reflect the depletion of product
    • The average unit cost remains stable
    • The batch receiving the dumped product will inherit a batch cost equal to the total cost of the dumped units, including the initial packaging cost.
  • Quickbooks
    • Inventory quantity is revised to reflect the depletion of product.
    • The total batch cost of the dumped spirit is moved from Inventory:Bottled Spirit inventory to Inventory:WIP.
• Reason: Withdrawn for R&D, Destroyed, and Recorded Losses
  • DISTILL x 5
    
    • Inventory quantity is revised to reflect the depletion of product
    • The average unit cost remains stable
  • Quickbooks
    • Inventory quantity is revised to reflect the depletion of product.
    • The value of the inventory depleted is moved from Inventory:Bottled Spirit inventory to COGS:Bottled Spirit COGS.
• Reason: Inventory Shortages
  • DISTILL x 5
    
    • Inventory quantity is revised to reflect the depletion of product
    • The average unit costs adjust to accommodate fewer units, though total inventory value does not change. 
  • Quickbooks
    • Inventory quantity is revised to reflect the depletion of product.
    • There is no change to total Inventory:Bottled Spirit account.

FULFILLMENT ACTIONS

1.     Add New Order (Includes Promos/Comps and Donations)

• DISTILL x 5:
• An order is created in anticipation of inventory depletion to a specified customer.
• Documents for Sales Order, Invoice, and Pull Sheet are immediately available
• Quickbooks: No action

2.     Change Order Status

• Packed
• DISTILL x 5: No action
• Quickbooks: No action
• Shipped
• DISTILL x 5
  • The shipped inventory is removed from the quantity on hand
  • The Total Inventory Value is decreased by the appropriate amount (Quantity Shipped • Average Unit Cost)
  • There is no change to the Average Unit Cost
• Quickbooks
  • The value of the shipped inventory (Quantity Shipped • Average Unit Cost) is credited to the Inventory:Bottled Spirit account and debited to the COGS:Bottled Spirit COGS account.
  • For Essentials + Plus Only: An invoice is created for the specified customer reflecting the Dx5-specified Wholesale Cost for the item shipped. This invoice may be edited in QuickBooks before submission to the customer or receipt of payment.
  • For Plus Only: The number of bottles in inventory for each of the shipped finished products is decreased by the number of units sold.
• Cancelled
• DISTILL x 5
  • From New/Packed: The order is removed from Pending. No inventory action.
  • From Shipped: All shipped inventory is returned at the current average unit cost and added to both Quantity on Hand and Total Inventory Value.
• Quickbooks
  • From New/Packed: No action
  • From Shipped: No action. Please manually adjust accounts to compensate for this reversal.
• New (From Cancelled)
• DISTILL x 5: The order is returned to Pending for further action. No inventory transactions occur.
• Quickbooks: No action