Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Welcome to the Community, kabarnard.
Let me share insights about updating prices or costs in QuickBooks Online (QBO).
Updating costs or prices has to be done manually in QBO. When you update the cost for inventory items in QBO, the new prices will only affect your future sales and won't change your past rate. Then, once you update a bill, the cost will be based on the price in the bill, but it will not change the cost of the previously purchased items (First In, First Out concept).
Once you're done updating your inventory cost, I recommend opening the Inventory Valuation Detail report. It will enable you to check the cost/selling price of your recent and ongoing sales for a particular inventory. To do that, navigate the Reports menu and enter Inventory Valuation Detail from the search bar.
Moreover, you can check out this article to customize the data showing on your report: Customise reports in QuickBooks Online.
Feel free to comment below if you need further assistance updating inventory costs. The Community is pleased to help you. Stay safe!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.