Invoiced a product that had no cost. Transaction did not credit inventory/debit COS. I entered the cost into the P & S list, deleted invoice, re-invoiced, still Dr./Cr.

Let me share some details how the setup for Cost field when setting up a product item works in QuickBooks Online (QBO), Psimkus.

Once you initially set up a product or service item (without an amount in the Cost field), the moment you edit it and enter an amount, it still has no retroactive effect. This is why the transaction did not credit inventory and debit Cost. To resolve this, we can set up a new service item and enter an amount in the Cost field.  Here's how: 

1. Go to Sales and choose Products and Services.
2. Click New.
3. Select your preferred Product/Service information.
4. Enter the amount in the Cost field. 
5. Fill in the necessary information and choose COGS under the Expense account.
6. Press Save and close.

Once done, create an invoice and run a Journal report to see the Debit and Credit details. For more insights on how you can set up and track product and service items you buy and sell, you can check out this article: Add product and service items to QuickBooks Online.

You can check out these articles for more information about managing inventory and the available reports are available in the program: 

• Set up and track your inventory in QuickBooks Online
• Use reports to see your sales and inventory status.

I'm just one post away if you have further questions about managing your product service items or any inventory-related concerns. I'll be here to help you out. You have a good one.