Does QB Online Plus not track landed cost?

Thanks for checking in with us, 99duckey.

For now, tracking landed costs in QuickBooks Online is unavailable. As a workaround, you can create an expense clearing account. Here's how:
 

1. On your QuickBooks Online dashboard, click Accounting in the left panel.
2. Choose Chart of Accounts.
3. On the Chart of Accounts screen, click the New tab.
4. Choose Bank or Expense for the Account Type. You may choose any detail type you want for your clearing account.
5. Type in the Name for the clearing account.
6. Make sure you do not type in any amount on the balance before clicking Save and Close.

After that, you can do the following:

1.  Enter a bill and use that clearing expense account as the expense for the transaction
2.  Edit the original bill as follows:

• 2a. Increase the total amount for each item by a portion of the new bill.
• 2b. Change to the account portion of the bill at the top, select the clearing expense account, enter the amount of the bill as a negative number
• 2c. Save the edited bill and click through any warning you may get about payments being applied.
• 2d. Insure the clearing expense account is zero balance, if not go back and adjust the item totals.

Once done, QuickBooks will use the edited bill to update the purchase cost. If any of the items were sold between the original transaction and the additional bills, the system will automatically make the adjustment to the COGS account for the change in purchase cost.

I'd suggest visiting this link if you need help in managing your items: Set up and track your inventory in QuickBooks Online. On the same link, you'll find what report to pull up to see your best sellers.

Ping me in if you have additional questions about QuickBooks items. It's my priority that all of your concerns be addressed. Have a fantastic day!

@99duckey 

You need an additional app with that feature to integrate with QBO.

Thank you both for the reply. I understand QBO does not track landed cost (cost + duties + freight), but from what I'm seeing now and getting from tech reps...it doesn't track plain cost either. Is this correct that the user has to manually enter the cost per SKU if they want that? 

It's true that you need to manually enter the cost amount when setting up an item or SKU, 99duckey.

Let me share the steps on how to enter the purchase cost of an item. Here's how:

1. Go to the Gear icon and select Products and Services.
2. Click New in the upper-right hand corner.
3. Select a type of item.
4. Scroll-down to the Purchasing information section and enter the amount in the Cost field.
5. Click Save and close.

I also encourage you to send feedback about this to our product engineers. Feedback or feature request vcan be submitted for review directly from QBO. Here's how:

1. Go to the Gear icon and select Feedback.
2. Type in your feedback and suggestions about the advertisements in QBO. 
3. Click Next to submit them. 

In the meantime, let me share these extra references with you when managing your inventories in QBO:

• Use Reports to See Your Sales and Inventory Status 
• Impacts of Inventory Tracking on Balance Sheet and Profit & Loss Reports 

Reply to us again in this thread or visit the Community anytime you have more questions. We're always here to offer our help again.