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kaycee1
Level 3

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?

I just started working here a few weeks ago, and in the past all credit card purchases were simply entered as bills to the CHASE vendor.  I know this isn't the correct way to do it, but when I tried setting up an actual credit card account and entering the purchases, there's only a place to enter expenses, not inventory parts or non-inventory parts.  Any suggestions? 

 

After over 20 years of using QB Desktop this is my first position that uses QB Online.

Solved
Best answer July 13, 2020

Best Answers
vpcontroller
Level 11

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?


@kaycee1 wrote:

I just started working here a few weeks ago, and in the past all credit card purchases were simply entered as bills to the CHASE vendor.  I know this isn't the correct way to do it, but when I tried setting up an actual credit card account and entering the purchases, there's only a place to enter expenses, not inventory parts or non-inventory parts.  Any suggestions? 

 

After over 20 years of using QB Desktop this is my first position that uses QB Online.


@kaycee1 

 

For inventory purchases, you can't enter it from the Banking tab or add manually to the register.

If it's credit card purchases for Inventory items, you will need to use the Expense form. And you will need to enter it in the Item Details sections, not the Category Details section. (Left Dashboard > + New > Vendors > Expense).

 

item_details2.PNG

 

Also, the inventory feature is available in QBO Plus and Advanced only.

View solution in original post

4 Comments 4
Nick_M
QuickBooks Team

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?

Hey there kaycee1. 

 

What you're going to want to do is add your inventory/non-inventory items and then add your products sales, tax and purchasing info. Here's how:

  1. Add your product’s description on sales forms. This shows on invoices, sales receipts, and other forms you send to customers.
  2. Add the Sales price/rate.
  3. Select the Income account ▼ drop-down and find the account you use to track what you sell.

    Tip: You can use an income account QuickBooks already set up for you. But if you need a new account, scroll to the top of the drop-down list and select + Add new. Or learn more on chart of accounts first.

  4. Select the Sales tax category ▼ drop-down and specify how the item should be taxed. If you don’t see this drop-down, set up sales tax in QuickBooks.
  5. Add your product’s description on purchase forms. This will show on bills, purchase orders, and other forms you send to vendors.
  6. Add the product’s Cost. If this changes, don’t worry. You can still enter the updated price when you buy supplies.
  7. From the Expense account ▼ drop-down, select Cost of Goods Sold. QuickBooks uses this account to track the cost of products you sell.
  8. Select a preferred vendor. QuickBooks remembers your preferred vendor so you can reorder this product easily.
  9. Select Save and close.

You can find this info and much more including a helpful tutorial video at the following link: Add inventory products in QuickBooks Online.

 

If you have any other questions or concerns, feel free to post below, Thank you and have a nice afternoon. 

 

kaycee1
Level 3

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?

The items are already set up, but how can I pay for the items I've purchased with a credit card?  When I try to enter the items on the credit card purchases screen, there's only a space for an expense account, not items.

 

 

kaycee1
Level 3

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?

Capture.PNG

vpcontroller
Level 11

How can credit card purchases for inventory parts and non-inventory parts be entered in QB Online?


@kaycee1 wrote:

I just started working here a few weeks ago, and in the past all credit card purchases were simply entered as bills to the CHASE vendor.  I know this isn't the correct way to do it, but when I tried setting up an actual credit card account and entering the purchases, there's only a place to enter expenses, not inventory parts or non-inventory parts.  Any suggestions? 

 

After over 20 years of using QB Desktop this is my first position that uses QB Online.


@kaycee1 

 

For inventory purchases, you can't enter it from the Banking tab or add manually to the register.

If it's credit card purchases for Inventory items, you will need to use the Expense form. And you will need to enter it in the Item Details sections, not the Category Details section. (Left Dashboard > + New > Vendors > Expense).

 

item_details2.PNG

 

Also, the inventory feature is available in QBO Plus and Advanced only.

View solution in original post

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