Should I be able to see more Item Types than Service, Non-inventory item and Bundle when adding a new Product to inventory? I recently subscribed to Inventory add-on.

Hi there. To access the Inventory item type, enable the inventory tracking in your settings. While your subscription now supports it, toggling this on is required for QuickBooks to automatically track quantities and calculate your Cost of Goods Sold (COGS).

When this setting is not enabled, the program defaults to basic types to maintain a simple interface. To enable the missing item type, follow these steps:

1. Navigate to the Gear icon > Account and settings > Sales > Products and services.
2. Click the Pencil icon to edit.
3. Toggle on the Show Product/Service column on sales forms.
4. Toggle on the Track quantity and price/rate, and Track inventory quantity on hand.
5. Click Save and then Done.

You can check our Set up and track inventory in QuickBooks Online guide for a deeper dive into managing your product list.

Once these boxes are checked, return to your Products and Services list and click New product/service. You will now see the "Inventory Item" option. Entering an "Initial quantity on hand" establishes your starting Balance Sheet, ensuring your Profit and Loss accurately reflects margins as items are sold.

If you encounter any issues while setting up your opening balances, please don't hesitate to notify us. We're here to assist you.