Thank you for reaching out to the Community, Accountant2024. I understand that you wanted to know how to track your inventory. I'd be glad to provide information on tracking your inventory.
For you to know how to track your inventory in QuickBooks Online, you can refer to this article: Set up and track your inventory in QuickBooks Online
If you're short on time, updating your records weekly or monthly might seem a faster option. However, this can lead to delayed insights and increased risk of errors. It's easy to forget updates that need to be made, which can cause problems.
On the other hand, daily updates ensure that the inventory levels are updated in real time, providing a clear picture of the stock on hand. While it may take a bit more time to record each transaction, it helps in maintaining accurate inventory records and can prevent issues such as stockouts or overstocking.
We'd recommend reaching out to an accountant to ensure what's best for their business structure. If you don't have one, I can help you get an accountant.
Furthermore, feel free to check on this article for you to track the value of your inventory assets manually in QuickBooks Online: Track inventory manually in QuickBooks Online
Feel free to leave a comment if you have further concerns about inventory tracking. I'd be glad to help you anytime.
