If you are new to QuickBooks then you may be finding a hard time enabling tracking of inventory within QuickBooks. If this is the case then you can follow this step-by-step process to find “How to track inventory in QuickBooks”.
Table of Contents
Enabling Tracking of Inventory
- Click on the Gear symbol and navigate to company settings page from the drop down button.
- Click on the sales tab.
- In-order to do the tracking for your inventory you would need to click on the pencil icon which will be placed next to the products and services tab.
- From there check mark the option where it says “Track all the quantities on hand.”
- Now hit Save.
After you have managed to enable all your inventory, you will now have to add products and set up the same within QuickBooks. To do so, just follow along.
How to Create a New Stock
- By login in to your QuickBooks accounts you would need to click on the Gear icon.
- You can find the icon on the upper right corner of your screen.
- Now click on the products and services tab.
- From here select New button and you will now be able to create a new product.
- Here select the new inventory item.
- Enter all the details related to the product that will follow along like: Name, image, SKU number etc.
- Now choose the asset account from the Inventory Asset Accounts tab.
- Now from the sales info. Section, choose to add an income account.
- Enter the Price or sales of the product and in the purchasing info.
- Add the COGS account to enter the real cost of this product and hit save.
- This will add a new item in your inventory that you will be able to track.
Hope you were able to follow along. If in case you are stuck and want any help then you can talk to our QuickBooks Consultant experts that will help and guide you on phone to update and import inventory. To give us a call you can dial our QuickBooks Tollfree number.