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ar-twilma
Level 2

How can I corrct inventor cost in P%L report? They are not showing for some items and I have tried several fixes, appreciate any help?

Have tried correcting the initial cost. Have checked the date to begin tracking. I use QB online
Solved
Best answer February 17, 2022

Best Answers
Adrian_A
Moderator

How can I corrct inventor cost in P%L report? They are not showing for some items and I have tried several fixes, appreciate any help?

Hi 

 

I'll be going through the steps on how to get the cost to show up on your P&L Report and here's how:

 

  1. Go to the Sales tab.
  2. Choose the Product and Services option.
  3. . Once here, find the item in the list that you will need to correct and choose the blue Edit button located on the right side of the screen.
  4. Now on the Edit screen, scroll until you find the area containing the Starting Value hyperlink and click. 
  5. Finally, here you'll see a box labeled as "Initial Cost". Enter the cost of the product here and Save and Close.

 

Afterward, let's also make sure that Costs are put in every Product and Service and Initial Cost is put in too. When completing these steps, go back to your Profit and Loss Report and your Cost of Sales will show on your report.

 

If you have any more questions, please don't hesitate to reach back out. I'm always a comment away!

 

View solution in original post

ar-twilma
Level 2

How can I corrct inventor cost in P%L report? They are not showing for some items and I have tried several fixes, appreciate any help?

Yes Adrian_A: hat is the way to fix the problem. It's what I did right away but it didn't work. Reached out to QB and worked with them on phone. Deleted the item from the invoice and saved it. Replaced the item and saved it again. This worked. Probably would not have worked it I had not done the first step. Maybe FIFO considered it a second sale ?? It worked and I'm very happy to be done with it! Thanks Guys!

View solution in original post

2 Comments 2
Adrian_A
Moderator

How can I corrct inventor cost in P%L report? They are not showing for some items and I have tried several fixes, appreciate any help?

Hi 

 

I'll be going through the steps on how to get the cost to show up on your P&L Report and here's how:

 

  1. Go to the Sales tab.
  2. Choose the Product and Services option.
  3. . Once here, find the item in the list that you will need to correct and choose the blue Edit button located on the right side of the screen.
  4. Now on the Edit screen, scroll until you find the area containing the Starting Value hyperlink and click. 
  5. Finally, here you'll see a box labeled as "Initial Cost". Enter the cost of the product here and Save and Close.

 

Afterward, let's also make sure that Costs are put in every Product and Service and Initial Cost is put in too. When completing these steps, go back to your Profit and Loss Report and your Cost of Sales will show on your report.

 

If you have any more questions, please don't hesitate to reach back out. I'm always a comment away!

 

ar-twilma
Level 2

How can I corrct inventor cost in P%L report? They are not showing for some items and I have tried several fixes, appreciate any help?

Yes Adrian_A: hat is the way to fix the problem. It's what I did right away but it didn't work. Reached out to QB and worked with them on phone. Deleted the item from the invoice and saved it. Replaced the item and saved it again. This worked. Probably would not have worked it I had not done the first step. Maybe FIFO considered it a second sale ?? It worked and I'm very happy to be done with it! Thanks Guys!

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