We purchase items from an overseas vendor. Once the items are on the ship heading our way, the vendor sends an invoice, and we pay 25% as a deposit on the goods. However, we have yet to receive the goods. They are showing up in my inventory valuation and in my inventory on hand, but they are not fully ours, nor have they been physically received. Any way to get around this so my inventory count and valuation will be accurate?

QB Issue Resolution:

in QBO if you enter a bill ,that stocks the item,  QBO does not have the same feature set as desktop, which allows for that.

 

Pay the deposit and use accounts payable as the expense (reason) for the payment, that sets a vendor credit which you can apply when the items get in and you enter the bill.

Resolution for Issue 'We purchase items from an overseas vendor. Once the items are on the ship heading our way, the vendor sends an invoice, and we pay 25% as a deposit on the goods. However, we have yet to receive the goods. They are showing up in my inventory valuation and in my inventory on hand, but they are not fully ours, nor have they been physically received. Any way to get around this so my inventory count and valuation will be accurate?' available: Yes (Solved).
Source: Intuit Community forum.

We purchase items from an overseas vendor. Once the items are on the ship heading our way, the vendor sends an invoice, and we pay 25% as a deposit on the goods. However, we have yet to receive the goods. They are showing up in my inventory valuation and in my inventory on hand, but they are not fully ours, nor have they been physically received. Any way to get around this so my inventory count and valuation will be accurate?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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