The best way to check your business sales records in QuickBooks inventory tracking. The facility provides you with accurate information so that you can effectively calculate your profit margin and optimize your sales strategy. QuickBooks Online also offers an exceptional feature that allows for inventory tracking and enables users to keep track of their sales orders.
In this blog, we will help you set up the inventory tracker on your QuickBooks Online account. You may also get in touch with QuickBooks Online Support phone number via call if you need immediate remote assistance regarding the same. Our team would be happy to offer a helping hand in boosting your sales and improving your business productivity.
Steps for Set Up QuickBooks Online Inventory
QuickBooks online inventory management allows you to keep a regular track of all the products you sell. It provides a broad overview where you can easily check which product is constantly selling and which one is not-in-demand. Similar to the QuickBooks Memorized Transaction feature that allows you to keep track of every transaction, this feature keeps you updated with every product and item.
These are the steps you need to follow if you want to wish to set up QuickBooks online inventory:-
Step 1:– From the Settings icon placed on the top right corner, click on ‘Account and Settings’
Step 2:- Now, from the menu that is visible on the left side of your screen, navigate to the Sales Tab that is placed just below ‘Billing and Subscriptions.’
Step 3: You will find a small pencil/edit icon on the right corner. Click on that icon and then press ON to track the quantity of inventory in hand. Don’t forget to click on Done in order to save all the changes.
Step 4: Now, press the Settings or Gear icon again and click on ‘Products and Services’ for creating a new Inventory item in your QuickBooks Online software.
Step 5: Type all the information for the New Item. Make sure that fill out all the mandatory information.
Step 6: From the inventory asset drop-down menu, click on the ‘Add an Asset’ account. Make sure that the account is type is Inventory detailed type.
Step 7: For the Expense Account field, you can select ‘Cost of Goods Sold/COGS’ and for the Income Account field, choose the Sales of Product Income option.
After setting all the inventory items, you will be able to run a service or product list report in QuickBooks Online. The above steps may vary depending on the QBO version you are using. In case of any difficulty in understanding the setup process, do not hesitate to contact our experts. You can post your doubts or questions in the comments below.
Conclusion
In this blog, I will tell you how to tracking QuickBooks online inventory. I hope my information is useful for QuickBooks Users. If you want more detail about QuickBooks and our support services contact us on our QuickBooks Support Phone Number.
