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info2102
Level 1

Good morning How do I add a cost price and selling price to my items

 
1 Comment 1
ChristineJoieR
QuickBooks Team

Good morning How do I add a cost price and selling price to my items

We can add selling and cost price on your items in just a few clicks, Info. I'll show you how to do it in QuickBooks Online.

 

Adding both a selling price and cost price for items is vital for effective inventory and financial tracking within a business. 

 

Here are the steps below:

 

1. Click the Product and Services from the Gear icon.

2. Choose the Inventory Type.

3. Set up all the details like the Name, SKU, Category, and the Description.

4. Enter your selling price in the Sales Price/Rate and the Income Account.

5. Next, tick on the Purchasing Information check box to enter the Cost Price and the Expense Account.

6. Press on the Save and Close button once done.

 

For further details on setting up and tracking the products and services, kindly refer to this article: Add product and service items to QuickBooks Online.

 

You need to update the item type for your product or service. You can refer to this link for assistance: Change product and Service item types.

 

That should do it! Let me know if you have any more questions about managing your inventory or service items in QuickBooks. I'm happy to assist you again. Stay safe and have a great day!