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August 26, 2026
Question

Çan I record product cost under simple starter plan?

  • August 26, 2026
  • 1 reply
  • 0 views
How to record product cost

1 reply

QuickBooks Team
August 26, 2026

If you want to record what each product costs you, you can do this in QuickBooks Online (QBO) Simple Start.

 

Just add or edit your items and enter the cost there. Here's how:

 

  1. Go to Settings, then Products and Services.
  2. Create a New product/service and choose Non-inventory or Service
  3. Add the product Name and fill in the necessary details.
  4. Under the Purchasing menu, tick the I purchase this product/service from a vendor checkbox.
  5. Enter the Purchase cost amount and pick the Expense account.
  6. Select Save and close.

 

Once done, the cost is now recorded on the item and will show on purchase forms like bills and purchase orders.

 

However, if you want to automatically track how many products you have in stock or calculate your cost of goods sold, you may need to upgrade your account. Check out this resource to learn more about this feature: Set up and track your stock in QBO.

 

Let me know if you have further questions.