cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Everything you need to know about connecting your bank and credit cards in QuickBooks Online

Reply to Message

View discussion in a popup

Replying to:
RaymondJayO
Moderator

Reply to Message

Hello there, @suzanne9

 

Thanks for confirming you're using the Plus version. I'm here to share some insights about managing your inventory. 

 

Once you enter the cost in either inventory or cost of sales, there's no difference to your accounting figures. It will automatically reflect on the stock asset, income and expense account you've selected during the setup. Please see the screenshot below to serve as your visual guide. 

 

 

You can read through this article if you want to learn more about the impacts of stock tracking on your Balance Sheet and Profit & Loss reports. For additional links about inventory in the program, here's a great article you can refer to: Stock Links and Resources

 

The information and resources above will help you get the grips with QuickBooks, @suzanne9

 

You can always update this thread if you have other concerns. I'll be around to help. 

Need to get in touch?

Contact us