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mayhem605
Level 2

Price paid vs price sold

I have a automotive business where I sell the same parts for many cars. Is there a way for me to input a item number for each product to keep track of what I pay for a item and the markup price? I want to be able to make a invoice with the item number and markup price but see on my QuickBooks how much I’m paying for parts. I hope this makes sense. Thank you 

5 Comments 5
Ryan_M
Moderator

Price paid vs price sold

I'll take care of this query for you, @mayhem605.

 

You can use the class tracking feature in QuickBooks Online (QBO) for this matter. Please take note that this feature is exclusive to the Plus and Advanced versions. 

 

When you're ready to proceed, here's how to enable this feature:

 

  1. Go to the Gear icon, then select Account and settings.
  2. Move to the Advanced tab.
  3. Click the Categories section, then turn on Track classes.
  4. Hit Save, then Done.

 

At this point, you can use classes to track your sales and expense transactions. Refer to this article for additional information: Track your transactions by class

 

Tag me in a comment below if you have other questions in mind about classes in QBO. I'll be sure to get back to you. Enjoy the rest of the day!

mayhem605
Level 2

Price paid vs price sold

Yes that’s what I’m looking for but it will not let me fill in the cost section. It’s on the chart but will not let me edit it. It will let me fill in the sales price though. 

GlinetteC
Moderator

Price paid vs price sold

Thanks for getting back to us, mayhem605.

 

Let me help you with the editing cost concern. 

 

If you're updating it from the product/service page, you'll have to make sure that the I purchase this product/service from a vendor box is mark checked. This way, it'll give you the option to update the cost of the item.

 

 

If you're unable to see the option, it might be that you're using QuickBooks Simple Start or Essential version. This functionality is only available to QuickBooks Online Plus and Advanced versions.

 

If you want to learn more "How do I" steps, you can always visit our Help Articles page.

 

Keep me posted if you need anything else @mayhem605. I'll be sure to help assist you more.

mayhem605
Level 2

Price paid vs price sold

That was it. Thank you so much for the help. I did a upgrade. 

mayhem605
Level 2

Price paid vs price sold

That was it. Needed to upgrade. Thank you so much. 

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