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:
Go to Settings, then Products and Services.
Create a New product/service and choose Non-inventory or Service
Add the product Name and fill in the necessary details.
Under the Purchasing menu, tick the I purchase this product/service from a vendor checkbox.
Enter the Purchasecost amount and pick the Expense account.
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.
Need QuickBooks guidance?
Log in to access expert advice and community support instantly.