Yes, you can record what each product costs you in QuickBooks Online (QBO) Simple Start by adding it when you set up a new item or by editing an existing one.
This process lets you track how much you spend on a product or service your business offers. Here's how:
Go to All apps, select Sales & Get Paid, then Products & services.
Create or find the existing item and pick Edit from the Action column.
Select the I purchase this service from a supplier option.
Add a Purchase description and the Purchase cost.
Choose the account you use to track the cost of things you sell from the Expense account dropdown.
If you need to track tax on your purchases, select an appropriate tax from the Purchase tax dropdown.
Pick your Preferred supplier, then Save when done.
If you need advanced stock management, consider upgrading your subscription, as automated inventory tracking and calculations are built into QuickBooks Plus and Advanced plans.
Let me know if you have any questions.
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