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theteam
Level 2

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

 
6 Comments 6
RaymondJayO
Moderator

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

It's great to see you here today, @theteam. Yes, there's a way to get the information you need. 

 

Let's run the Product/Service List report so you can view the summary of the selling prices and purchase costs of all your products. I'll guide you how. 

  1. Go to Reports from the left menu. 
  2. Locate the Sales and customers section. 
  3. Select Product/Service List to open the report.

 

The screenshot below shows you the steps. 

RunTheProductServiceListReport.PNG

 

Once done, you can compare the amounts in the Price and Cost columns on the report. This way, you'll have the option to update them weekly. Here's a sample screenshot of how it looks like in QBO. 

RunTheProductServiceListReport2.PNG

 

I recommend running other reports to see your sales and inventory status in the program. Two of them are Sales by Product/Service Summary and Inventory Valuation Detail. For more information, visit this article: Use Sales and Inventory Reports.

 

You can also customise those reports to format things just the way you want them. Then, memorise them to save their current customisation settings. That way, you can quickly access them in the future. 

 

I'm here anytime you have other concerns. Keep safe always, @theteam.

theteam
Level 2

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

Thank you for the reply.

I tried that method, as seen in the picture below, the report is generated without the selling price.

How do I connect both Purchase price and selling price in one report?

In our business both prices are variable and I must monitor to make profit.

JessT
QuickBooks Team

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

Hi theteam!

 

Thank you for joining the thread and for your screenshot. I'll help you check the change in prices.

 

You can use the Inventory Valuation Detail report, as suggested by ReymondJayO. This will give you the combined list of purchases and sales transactions of them items. You can also filter items to easily check the change of price, like in the screenshot below. They are determined based on a First-In-First-Out basis.

 

change in price.PNG

 

To filter certain items, click the Customise button on the report page. Then, expand the Filter section and choose the list of products in the Product/Service drop-down list. See more info about customising reports.

 

Fill me in if you need more assistance with getting the change of price of your items. Have a good one!

theteam
Level 2

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

Thank you very much for the reply.

To Run Inventory Valuation Report I will have to change all item type to "Inventory". 

Are there any way to generate this report for "Non Inventory" Items?

theteam
Level 2

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

Thank you for the reply.

COS is not generated for the "Non Inventory" Items. are there anyway to do this?

Angelyn_T
QuickBooks Team

Are there any way to get the summary of products selling price and purchase cost of products? Our product costs are variable. I want to compare and update each week.

Thank you for getting back to us here on the Community page, @theteam.

 

The cost of sale or goods sold will only be realized when you sell the item on invoices or sales receipts. At this time, you can a report from the Product/Services window to check the details of your items added from there. We don't have the option to include the non-inventory items on the Inventory Valuation Detail report.

 

Here's how:

 

  1. From the Gear icon, select Products and services under the Lists menu.
  2. Select Run report from More's drop-down arrow.
  3. From there, you can customise or add the column/s you want to display by clicking on the small gear icon beside the export tab.

To learn more about setting up and tracking inventory in QuickBooks Online, check out this link.

 

Post again if there's anything you need assistance with. I'm here to help however I can. Keep safe!