Inventory Adjustments option from the Tasks menu.ry from the Maintain menu. Sage 50 displays the Maintain Inventory Items window. On the General tab, select the Beginning Balances button.

Converting Inventory Items from QuickBooks

How Do I...

If you have inventory parts set up in QuickBooks, they will be converted to the Sage 50 format. You can set up stock, non-stock, assembly, labor, service, and description only items in Sage 50. Each inventory item is assigned an item ID, which is derived from the QuickBooks item name/number. If you want to change the ID, click Change ID in the Maintain Inventory Items window.

Note: Inventory item types of Subtotal will not be converted.

ClosedService and Labor Items

Sage 50 will convert "Service" items to "service" items. While "Other Charge" items from QuickBooks will be converted as "non-stock" inventory items in Sage 50. Sage 50 also includes "Service" and "Labor" as inventory item classes.

ClosedStock Items

When Sage 50 converts non-stock items, it will use the same general ledger account in the GL Salary/Wages Account field as it does for the Cost of Sales Account. In this way, invoices that include non-stock items will have no impact on the general ledger account balances.

ClosedItem Tax Types

Although Sage 50 will convert Item Tax Types for existing inventory items, the default names for these tax types will not be converted or set up. You must do this manually. How do I set up Item tax types?

ClosedInventory General Ledger Accounts

Sage 50 requires that you set up three default G/L accounts for each inventory item. These include a default sales account, inventory account, and cost of sales account. QuickBooks allows for subaccounts. If a parent account and subaccount are selected (PARENT:SUBACCOUNT) as a QuickBooks default, the subaccount is used as Sage 50's G/L account default.

ClosedCosting Methods

Sage 50 has three different types of cost methods for inventory:

Average Cost

LIFO (last in, first out)

FIFO (first in, first out)

QuickBooks uses only one costing method: Weighted Average. All QuickBooks inventory parts are converted to Sage 50 as stock items using the costing method selected during the conversion process.

Note: You cannot change a costing method once a stock item is converted and set up in Sage 50. If you want to change costing methods, you must set up a new inventory item. Generally, all inventory items need to use the same costing method. Check with your accountant.

ClosedQuantity on Hand Beginning Balances

The current number of an inventory part item on hand in QuickBooks is converted to Sage 50 as the stock item's beginning balance. The Sage 50 beginning balance for inventory items includes the quantity, unit cost, and total cost of the inventory. You only use this when you first enter beginning balances. However, if you enter an incorrect unit cost for a beginning balance, this is the only place where you can change it. Do not use the Beginning Balances window to make adjustments to inventory for spoilage or theft; use the Inventory Adjustments option from the Tasks menu.

After the conversion is complete, you may want to update inventory item information.

For detailed information about what and how inventory items are converted, see the following topic:

The following fields cannot be converted or are not available in QuickBooks and can be optionally set up in Sage 50:

How do I set up an inventory item?

What do you want to do next?

Published: March 21, 2017
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