This is a one hour overview of using inventory in QuickBooks Point of Sale.  Here is the link:

https://intuit.webex.com/intuit/lsr.php?AT=pb&SP=EC&rID=40352247&rKey=11ebe32dcb5596db

Enjoy

While POS is a great program, it really shines as a complete system when used with QuickBooks Financial Accounting Software (QBF).  Here is how the 2 talk to each other.  BTW, this assumes you are using summary posting, which is what we recommend.  Detail posting just clutters up  your item list and creates more work depositing funds.  The following assumes a standard set up.

Each time you send data over to QBF, it will update any vendor information you have changed in either program.  Additionally, if you are set to synch customers, it will update any changes between the two.

POS will create a single sales receipt for the total of the day’s cash and credit card sales.  It will also create a sales receipt for each check received.  The net cash that POS registered will be sent to an account called cash in drawer.  Even if you show a shortage in your Z-out drawer count, you still need to adjust QBF’s cash in drawer account.

Additionally, POS will create a journal entry increasing the cost of goods account and decreasing inventory.  This is why it is so important to receive merchandise correctly.  Speaking of that, any completed receiving vouchers will be sent over to POS as entire an Item receipt or a bill depending on preference settings.

POS working hand in hand with QBF is a thing of beauty, but as my wife tells me, I need to get out more.