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Hello CJS92,
You can use the inventory tracking feature in QuickBooks Online Plus version to track your inventory and the inventory value. You can also record the purchased inventory items using the expense or bill feature, and the quantity will be added to your products and services list.
How to enter expense or bills:
Doing this process QuickBooks Online increases your quantity on hand for the specific inventory item.
You can check these articles for more information:
Furthermore, if you need to capture the GST only for customs transaction. Please check this link on how to record GST only payment made to customs.
Reach out to us if you have more questions. The Community is around to help you.
Thanks for your reply. I do need to capture the GST only for customs plus other GST free duty item on the invoice.
I need to allocate these costs to each inventory item. How would I do this?
Hi CJS92,
QuickBooks Online has a simple inventory tracking feature. Once you've added the inventory items, you can create an invoice, add it and enter an amount in two lines. Let me show you how to record .
For more information, you can check on this article: 100% GST - Importing goods.
I'd also recommend consulting your accountant to make sure you're recording your transactions accordingly.
Let me know if you have any other questions and I'd be glad to help.
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