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Intuit
16 helpful votes

Set up and track your stock

Learn how to track your stock in QuickBooks Online Plus.

QuickBooks Online has everything you need to manage your stock. Track what's on hand, get alerts when it’s time to restock, and see insights on what you buy and sell. We’ll help you set it all up and get going.

If you don’t have Plus, upgrade your QuickBooks plan once you're ready to start tracking your stock.

Step 1: Turn on stock tracking

If you haven’t yet, turn on these settings so you can add your stock.

  1. Go to Settings ⚙ and select Account and Settings.
  2. Select Sales.
  3. Select Edit ✎ in the Products and services section.
  4. Turn on Show Product/Service column on sales forms.
  5. Turn on both Track quantity and price/rate and Track stock quantity on hand.
  6. Select Save and then Done.

QuickBooks always considers the first items you purchase as the first items you sell. Accountants call this method “first in, first out” or FIFO.

Not all accounting software uses FIFO. QuickBooks Desktop Pro and Premier, and other accounting software use average costing instead.

Step 2: Add your stock products

Now that your settings are in order, you can add your stock items.

Add things you buy or sell but don’t track as stock

Not everything you buy or sell is part of your stock. Here are other things you might also need to set up in QuickBooks:

  • Add any services you provide to customers. For example: landscaping or bookkeeping services.
  • Add non-stock items. These are things you buy or sell but don’t (or can’t) track as stock. For example: nuts and bolts used in installation.
  • Create a bundle for any collection of products or services that you sell together. For example: a gift basket of fruit, cheese, or wine. Adding these products in a bundle saves you from having to select them one by one in invoices or receipts.

Step 3: Keep track of what sells

Once you set up all your stock products, you track them when they sell. There are two ways to track what you sell:

QuickBooks then decreases what’s on hand by the amount on the invoice or sales receipt.

Check what’s on hand and what’s on order as you work

Check what’s on hand and what’s still on order as you work on an invoice, sales receipt, or another type of transaction. Just hover your pointer over the quantity you entered for an item to see more info.

If you set a low stock alert, QuickBooks will also let you know when something's running low.

Note: To check all your products’ quantity on hand, go to Sales then Products and Services. Or run reports to check what's in stock at any time.

Step 4: Restock your stock

QuickBooks tells you when it’s time to restock. You can order stock right in QuickBooks. Then, track what you receive from suppliers and what’s still on order. When you do, the quantity on hand automatically increases by the number of items you receive.

Learn how to reorder anything that’s running low or out of stock.

Step 5: Use reports to check the status of your stock

Access reports to instantly see your best sellers, what’s on hand, cost of goods, and more.

Learn how to use reports to see stock status and performance.

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