What is the purpose of entering bills against inventory in QuickBooks?

 It allows you to receive your inventory items into QuickBooks desktop or Online or any other accounting program prior to selling it.

This is so you don’t end up with negative inventory (selling inventory items you don’t have) which can screw up your Cost of Goods Sold account and your profit and loss.

It is presumed that you plan to pay for it later. I presume that you are using accrual accounting.

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