If you use stock tracking in QuickBooks Online you may be confused when looking at your Sales by Product/Service Detail report. Rather than listing the sales of the items as they appear on your invoices, the report shows the same item several times. This is because QuickBooks Online is tracking the movement of that item through the appropriate accounts, such as Cost of Sales and the Stock Asset account.
If you're not concerned with seeing this level of detail and would like to just see the items listed as they appear on your invoices, follow these steps to customise the report.
In either the Sales by Product/Service Detail report:
- Select Customise.
- In the Customise Sales by Product/Service Detail window, select Lists.
- From the Distribution Account dropdown arrow, select All Income Accounts.
- Select Run Report. The report will now only show one entry for the sale of your stock item as it does on your invoice.
For more information on how stock tracking works in QuickBooks Online, you may find the following article helpful:
Buying and Selling Stock and Adjusting Quantity on Hand, see Buying and Selling Stock and Adjusting Quantity on Hand.
If you need to see your quantity on hand for a certain date:
- Go to Reports (Take me there), then select Balance Sheet.
- Select the link for the Total for Stock Asset (or whatever account you are using for the stock item).
- On the report that comes up, select Customise.
- Select Change Columns.
- Scroll down the available columns list, select Qty, then Add.
- Select OK.
- Above the Change Columns button, select the Group By drop-down menu and choose Product/Service.
- Select Run Report.
If you need a report that totals your stock valuation:
- Go to Reports (Take me there).
- Search for Stock Valuation Summary.
- Select to run the report.