|
I would think that you would process a bill for the 50% deposit. You're physical counts will be off but wouldn't this be considered "inventory in transit"? You would have to have some way of tracking invoice payments where the inventory has not been received but paid for (as in this case). Basically, physical count + inventory in transit = total inventory.
Another option would be to create a deposit account that groups with inventory. When the inventory is received, you would have to post an entry to transfer from deposits to real inventory.
I used to work for a large retailer and nothing would post to inventory until it was received & processed. However, we had a sophisticated inventory software to handle this. I'm guessing that if you are using quickbooks, this company is somewhat small and unfortunately, you may have to handle some processes manually.
|