[cashflyer]

The may be an overly complicated solution for your situation, but I handle mine using the directions included with QB.


To do this task:

Create a purchase order for the items.

Create another current asset account.
Name the account "Prepaid inventory" or a similar name.

Enter charges for the items by:
Writing a check
or
Entering a credit card charge

When QuickBooks indicates that you have an open purchase order for the vendor, do not select the purchase order.

On the Expenses tab of the check or credit card charge, click the Account field. Choose the other current asset account that you created.

Save the check or credit card transaction.


To receive the items
Find the check or credit card charge for the transaction.

On the Expenses tab, select the line that contains your other current asset account.

Go to the Edit menu and click Delete Line.

Click the Items tab.

Click Select PO.

Click the purchase order that contains the items you paid for and then click OK.

If necessary, record additional expenses (such as shipping) on a new credit card charge or check.

Don't add additional expenses to the existing credit card charge or check.

Save the transaction.

Any additional amount owed can now be paid as usual. (Pay Bills)