Add inventory products in QuickBooks Online

To track your inventory stock, you must add inventory items to your records. Once items are in your system, you can track your inventory and costs automatically.

If you buy and sell products and services but don't track them as part of your inventory, here's how to add them to QuickBooks.

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What you’ll need

• QuickBooks Online Plus or Advanced
• Inventory tracking enabled in your settings.

Note: Make sure to turn on inventory tracking before adding items. This allows the system to manage your stock levels automatically.

Add a new inventory product

Tip: If you have your products listed in a spreadsheet, you can import all of them at once to save time.

1. Go to Settings ⚙ and then Products and services (Take me there).
2. Select New , then select Inventory.
3. Fill out the required details like Name and SKU.
4. Add the Initial quantity on hand.
5. Enter the date you started tracking in the As of date field.
6. Enter the quantity that we send you an alert to order more of that product in Reorder point.
7. Select the Inventory asset account ▼ dropdown and choose Inventory Asset.
8. Enter a description for sales forms. This shows on invoices and receipts you send to customers.
9. Add the Sales price/rate.
10. Select Income account ▼ and find the account for tracking sales.
11. If you need to change the tax settings, select Edit sales tax. Choose the product type to specify how we should tax the item.
12. Enter a description for the item to show up on vendor forms like purchase orders.
13. Add the Purchase cost.
14. Select the Expense account ▼ dropdown and choose Cost of Goods Sold.
15. Choose a preferred vendor for easier reordering.
16. Select Save and close.

Results

QuickBooks now updates your inventory automatically. You can track inventory value and add products to sales forms.

Related links

• Set up and track your inventory in QuickBooks Online
• Import products and services into QuickBooks Online
• Set up low stock alerts
• Inventory valuation methods for cost accounting
• Understanding the chart of accounts in QuickBooks Online
• Set up and use automated sales tax in QuickBooks Online