I can definitely show you how inventory works in QuickBooks Online, davidrojas4seaso.
Before we dive into the process, we'll have to take note that the Inventory features are only available in QuickBooks Online Plus and Advanced. If you don’t have Plus or Advanced, you can upgrade your QuickBooks plan to start tracking your inventory.
QuickBooks Online provides you all the functions that you need to efficiently manage your inventory. We can track what's items are on hand, get alerts when it’s time to restock, and see insights on what we should buy and sell. We can also create non-inventory products and services. This way, we'll be able to quickly add them to your sales forms.
The first step in this process is turning on the Inventory Tracking feature in your settings. Let me show you how:
- Click the Gear ⚙ icon.
- Choose Account and Settings.
- Select the Sales tab.
- Click the Pencil icon in the Products and services section.
- Turn on Show Product/Service column on sales forms.
- You can also turn on price rules if you want to set up flexible pricing for the things you sell.
- Turn on both Track quantity and price/rate and Track inventory quantity on hand.
- Click Save, then hit Done.
Once done, we can now start adding inventory items. These are the products that you sell that need to be tracked. If you want to add products and services that don’t track as part of your inventory, you can refer to the articles below:
- You can add service items for the services that you sell to customers. For example, landscaping or bookkeeping services.
- You can add non-inventory items for the items things that you buy or sell but don’t track as inventory. For example, nuts and bolts used in an installation.
- You can create bundles to group multiple products or services together. For example, a gift basket of fruit, cheese, or wine.
In addition, the program will automatically let you know when something's running low if you set a reorder point to your products.
I encourage you to visit this article to learn more about how to track your inventory in QuickBooks Online: Set up and track your inventory in QuickBooks Online. It also contains information that will help you in restocking your inventory and generating reports to check the status of your inventory.
As always, you can count on the Community if you need help in managing your inventory. Assistance is just one post away.
