Hello, @rukhan.
I'm here to share some insight about how to record inventory items in QuickBooks Desktop.
Yes, it's necessary to use the same items for the product ordered and for the product sold. Also, QuickBooks automatically adds two accounts to your company file's Chart of Accounts when you create your first inventory item in your Inventory List.
Furthermore, the expense of purchasing inventory is recorded in the Inventory Asset account. When an item is sold, QuickBooks automatically transfers the product's cost from the Inventory Asset account to the Cost of Goods Sold account.
In addition, check out this article on how QuickBooks handles inventory assets, average cost, and cost of goods sold is necessary for effective inventory tracking (COGS). You'll learn how to calculate the average cost and identify the reports that will aid in inventory management: Understand inventory assets and cost of goods sold the track.
Moreover, if you need to change quantity or overall value of your products in QuickBooks Desktop, please see this article: Adjust your inventory quantity or value in QuickBooks Desktop.
Please let me know how things work out. Please let me know if you encounter the issue so we can try different procedures to enable you to add inventory items. Enjoy your day!
