Welcome to the Community. QuickBooks Online Essentials will only let you track non-inventory, service, and bundle.
Hence, the feature to add the cost of an item is only available in the inventory item which is applicable in the Plus and Advanced version of QuickBooks Online.
You may want to consider upgrading your subscription to the higher version of QuickBook (Plus, Advanced) so you can start using this feature. Here's how:
Click the Settings (gear icon), then select Accounts and Settings.
Go to Billing & Subscription at the left pane.
In the QuickBooks Online section, select Upgrade.
Choose the plan you want, and select Upgrade.
Confirm your payment information, then select Save.
You can also visit our plan and pricing page to see the lists of plans and features that best suit your business needs.
For future reference about adding products and services in QuickBooks Online, check out this link: Track inventory in QuickBooks. This feature lets you add your inventory products so you'll know the quantity on hand of your inventory items.
Feel free to message again if you need more assistance. We're always delighted to help.
Hello I just signed up for QuickBooks Essentials Online and want to change the cost price of a product. Cost Price is not an editable field. How to change it?
Hello I just signed up for QuickBooks Essentials Online and am being charged $40 but the online price shows 25 and this is the price quoted to me by sales also. I spoke to customer service this morning and I was told the price is $40 and that the website is wrong due to a technical problem. Can you clarify I am so confused.
QuickBooks Online (QBO) offers a 50% discount (or changes may vary daily or weekly) when you subscribe to QuickBooks for the first time. Please know that you can only take advantage of a single discounted rate. If you've used a trial or resubscribed to a canceled account, you can't avail of the discount. That said, this could be the reason why you're QBO Essentials costs you $40. And the discounted price is $25.