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Let me share some information about the Cost and Sales Price works in QuickBooks Online (QBO).
Once you enter the amount in the Sales price/rate and Cost field, it will be the fixed value that will flow in the Item details when creating a bill. The one that will automatically be updated will be the qty on hand value. See the screenshots for your reference:
Alternatively, we can manually enter the amount on the Sales price/rate and Cost fields. Just in case you need to set pricing rules for specific products and services, check out this article for more details: Set price rules in QuickBooks Online.
For reference, you can also look into these articles on how to manage inventory:
- Set up and track your inventory in QuickBooks Online
- Adjust inventory quantity on hand in QuickBooks Online
I want to make sure I've got you covered. You can click the Reply button below for follow-up questions and clarifications about managing your bill transactions. I'll be in touch.