I have deposits for Sales of Product Income that are not matched with inventory. The Cost of Goods sold is therefore $0 for these items. How do I fix this?

It's good to have you here, lburke88.

Before matching an inventory outside QuickBooks Online (QBO), you'll want to add an inventory item that will affect your income account and your cost of goods sold.

Here's how to do that:

1. Go to Sales, then Products and Services.
2. Select New or Add a product or service. Then select Inventory.
3. Add a Name, SKU, or category for what you're tracking.
4. Fill in the necessary information and click Save.

After this, you can use the newly created inventory item when you create an invoice. Once done you can pay the invoice using the Receive Payment feature.

With regards to your question about matching inventory, I recommend reaching out to eBay or PayPal. They can help make sure the accounts were correctly mapped.

Learn more about how QBO calculates COGS through this article: Cost of goods sold: How to calculate and record COGS.

To give more information about managing inventory and what reports are available in QuickBooks Online, check out the following articles:

• Inventory management.
• Use reports to see your sales and inventory status.

I'll be right here if you have further questions while working with inventory. Keep safe and have a good one.

Hi, lburke88.

Hope you’re doing great. I wanted to see how everything is going about matching deposits with your inventory you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!