Hi there, @Lisa H8.
I'm here to help you with your inventory concern.
QuickBooks Online (QBO) tracks inventory using the first-in, first-out (FIFO) concept. You'll want modify the item cost so that the correct rate will be applied to the next bill.
Here's how:
- Go to Settings ⚙ and select Products and Services.
- Highlight the item, then select Edit from the Action column.
- Choose Starting Value.
- Select Got it.
- Enter the item's correct quantity and cost.
- Click Save and Close.
You can check out sample scenarios in this article: What is FIFO and how is it used for inventory cost accounting?
With regards to your second question, combining inventory item to build is only available in QuickBooks Desktop. In the meantime, you can utilize the inventory bundle in QuickBooks Online.
For your additional reference, please visit this article: QuickBooks Online: inventory bundles.
All you need to know about tracking your inventories in QBO can be found in this article:
I'd also recommend you consult an accountant for additional guidance in making these changes to ensure the accuracy of your accounts.
You can also run reports to see your sales and inventory status in QBO.
Get back to me if you need help with managing item costs in QBO. I'll be around to answer them for you. Enjoy the rest of the day!
