Thanks for coming back, benstan.
Are you referring to adding an item under an expense account? If so, we can add a new product or service item posted to an expense account to track the sale.
But first, let's enable the Inventory tracking feature in QuickBooks Online (QBO). Just refer to this article for the steps and details: Set up and track your inventory in QuickBooks Online. Then, go to Step 1: Turn on the inventory tracking section.
Then, follow the instruction below on how to add a new item:
- Go to the Gear icon.
- Choose Product and Services.
- Tap New.
- Select Non-inventory or Service.
- Add a name. If you track SKUs, enter an SKU for the product.
- From the Category ▼ dropdown, select the category the item category.
- Choose the I sell this product/service to my customer's checkbox. If you don't sell the item, you can leave it unchecked.
- In the Sales information section, enter a description. This is what your customers will see on their sales form.
- Enter an amount in the Sales price/rate field. Note: If you charge a variable rate for services, you can leave the Sales price/rate data field blank. Add the price when you fill out the invoice or sales receipt.
- Tap the Income account ▼ dropdown and the Expense account you want to use to track the sale.
- Press Save and Close.
For more details about this one, check out this article: Add product and service items to QuickBooks Online.
To learn more about how to properly use items in your account, refer to this link: https://www.firmofthefuture.com/content/quickbooks-expense-or-items-tab-quickbooks-accounting-tips/.
Visit our Expenses Helpful Articles for more insights about managing your expenses.
I'm just one reply if you need a hand with managing your Chart of Accounts or ay QBO related. I'll be here to help. Take care always.
