Can I add inventory with different purchase prices? For example, we purchased 100 ton of a chemical at $40 a ton, then later purchased more for a higher price.

schaafag6-gmail- · ‎November 05, 2020

How do I reflect this when adding inventory? I use qb online. My husband said he used to be able to show rate changes using qb desktop.

MaryLandT · ‎November 05, 2020

Yes, you can add inventory items with different purchase prices, schaafag6-gmail-.

To do so, you need to use the Reorder feature to reflect the new amount of your purchases. Let me show you how:

Go to Sales then Products and Services.
At the top, you’ll quickly see if you have low stock or out of stock items.
Select Low stock or Out of stock to see those items.
Click the triangle icon under Action, then choose Reorder.
This creates a purchase order for a single vendor.
Complete all the details of the purchase order, including the new price.
Click Save and close or Save and send.

To check what's still on order, feel free to visit this page: Reorder inventory or supplies from vendors.

I'm also adding this link for your future reference: Add inventory products in QuickBooks Online.

Let me know if you need anything else about adding inventory items. Just tag my name and I'll get back to you.

View solution in original post

MaryLandT · ‎November 05, 2020

Yes, you can add inventory items with different purchase prices, schaafag6-gmail-.

To do so, you need to use the Reorder feature to reflect the new amount of your purchases. Let me show you how:

Go to Sales then Products and Services.
At the top, you’ll quickly see if you have low stock or out of stock items.
Select Low stock or Out of stock to see those items.
Click the triangle icon under Action, then choose Reorder.
This creates a purchase order for a single vendor.
Complete all the details of the purchase order, including the new price.
Click Save and close or Save and send.

To check what's still on order, feel free to visit this page: Reorder inventory or supplies from vendors.

I'm also adding this link for your future reference: Add inventory products in QuickBooks Online.

Let me know if you need anything else about adding inventory items. Just tag my name and I'll get back to you.

Trebby · ‎August 18, 2023

I would like to know how it works...

Bought 10 pens at $1 last week and entered it into quickbooks

Bought 20 pens at $2 this week and want to enter it but when I do it asks if I want to 'update' to cost of the product. If I do 'update' the cost will it think the original 10 pens cost $2? or will it keep those 10 pens cost at $1 and the new 20 pens cost at $2?

DebSheenD · ‎August 18, 2023

Welcome to the Community, @Trebby.

Allow me to chime in and share some insights about this item concern.

At the moment, the option to change the inventory amount to the same item is unavailable. Since you're not going to track stocks, you can create a new item for the products.

To do that, tap the Gear icon the choose Products and Services.
Click New then pick the type you want to use moving forward.
Fill out all the information about the item then press Save and close.

Then, you can replace the items on the sales transactions with the new item one by one. Here's how:

Go to the Gear icon again then Products and Services.
Find the inventory item then head to the Action column.
Tap the drop-down beside Edit then pick Run report.
All the entries related to the inventory are displayed on the report.
Click the entry to open, then change the item manually with the new one.
Make sure the amount is correct before saving.

Once everything is cleared, you can make an inventory adjustment to zero out the inventory quantity. This article will help you with the steps: Adjust inventory quantity on hand in QuickBooks Online

You can also make it inactive to remove it from the list of products. Just go to the Products and Services page then select Make inactive in the Action column.

Let me know if you have additional questions about running the inventory in QuickBooks. Have a good one.

Rainflurry · ‎August 19, 2023

@Trebby

"If I do 'update' the cost will it think the original 10 pens cost $2? or will it keep those 10 pens cost at $1 and the new 20 pens cost at $2?"

No, it will keep the original 10 pens purchased @ $1/ea. QB just asks that question so that it can auto-populate bills and inventory adjustments with the new cost but it will not change previously received items.

Trebby · ‎August 19, 2023

It will keep the original pens at the lower price even if I haven’t sold all of them?

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Can I add inventory with different purchase prices? For example, we purchased 100 ton of a chemical at $40 a ton, then later purchased more for a higher price.