i don't have any tangible assets showing on my reports how do i add them please. i have £120,000 of stock which i would like to add.

We can utilise the inventory tracking feature in QuickBooks Online (QBO) Plus and Advanced, @danny51.

First, ensure that inventory tracking is enabled in your QBO settings for accurate stock management.

Here's how:

1. Go to the Gear icon and select Account and settings.
2. Choose the Sales tab.
3. In the Products and services section, click the Pencil icon.
4. Enable the option for Track stock quantity on hand.
5. Select Save, then Done.
   
   

Once inventory tracking is on, you can add (the £120,000 worth of ) your stock as an inventory item following these steps:

1. Go to the Gear icon and select Products & services.
2. Click New to add a product or service.
3. Select Stock as the product type.
4. Fill in the required details, including a Name for the stock.
5. For the Initial quantity on hand, enter the stock you have.
6. For the Stock asset account, select Stock Asset. QuickBooks uses this account to track the value of your stock.
7. Enter the Cost per item.
   
   

QuickBooks will automatically calculate the total stock value (£120,000) and create the necessary journal entry to show this asset on your Balance Sheet (B/L) report.

Follow these steps to run the report:

1. Navigate to Reports from the left-hand menu.
2. Search for or select the Balance Sheet report.
3. Adjust the Report period to your desired date (for modern view) or click Run report (for classic view only).
   
   

For any additional questions or concerns, just select the Reply button.