How to take an accurate inventory when you have open invoices via Square?

[Hillandale]

At our business, we allow particular businesses and customers to be invoiced. We write an invoice using Square and the customer takes that product with them. However, square does not take out inventory until that invoice is payed. We take an inventory monthly. How are we supposed to take an accurate inventory and make adjustments when we have several open invoices? When those customers pay that invoice after we take inventory, that product is going to be taken out twice. 

How do other businesses that offer Net 30 Invoices take an accurate inventory when those invoices are still open?

[TheRealChipA]

Hi @Hillandale.  You just missed a setting that does this.  Square allows you to track inventory both ways, depending on your needs.  The screen shot below is from this Square Help Document on inventory tracking.  It tells you how to set up to account for committed inventory.

Regards,

[Hillandale]

Yes that makes sense in the terms of sales. However, I am talking about taking inventory. We take inventory quarterly, since square does not deduct inventory until that item is payed for, then it will be taken out twice. If I were to take an inventory right now, the computer is going to show more than what is actually on the shelve due to those items being on an open invoice. If I adjust the inventory in the system to what is actually on the shelf, then square is going to automatically deduct that product again when the customer pays invoice even though I already deducted it from taking a physical inventory count. 

[MayaP]

Hey there @Hillandale at this time there is no option to take inventory monthly or on unopen invoices. 

I would submit a feature request on our Ideate Board. I do understand for your business needs the current inventory setup with retail won't work at all. Our team is happy to get a better understanding of why something like this is needed and they will look at these requests in ideate. I do want to be very clear though, a submission to Ideate does not guarantee the feature will be implemented. As updates become available we will make sure to let you know on the submission thread. 

I appreciate your input! 🙂