Understanding DataNinja's QuickBooks Entries

Inventory Transactions Tied with Posting Entries

Receipt of Purchased Inventory from Vendors
Debt Inventory Item Asset Account
Credit Accounts Payable

Production
Debit Labor Account
Debit Produced Inventory Item Asset Account
Credit Inventory Shrinkage

Shipment of Sold Inventory to Customers
Debit Accounts Receivable
Credit Inventory Item Asset Account

Isolated Inventory Transactions

Adjust Qty Down
Debit Inventory Shrinkage
Credit Inventory Item Asset Account

Adjustment Qty Up
Debit Inventory Item Asset Account
Credit Inventory Shrinkage

Cycle Count Qty Down
Debit Inventory Shrinkage
Credit Inventory Item Asset Account

Cycle Count Qty Up
Debit Inventory Item Asset Account
Credit Inventory Shrinkage

Scrap
Debit Inventory Shrinkage
Credit Inventory Item Asset Account

Consumption
Debit Inventory Shrinkage
Credit Inventory Item Asset Account

Quick Receive
Debit Inventory Item Asset Account
Credit Inventory Shrinkage

Quick Ship
Debit Inventory Shrinkage
Credit Inventory Item Asset Account