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Easy Method to Add Inventory in QuickBooks Online & Desktop?

Looking for the best and easiest steps on how to add inventory in QuickBooks online and desktop? Then scroll down this guide. Here, you Understand the two categories of adding inventory in QuickBooks desktop and online. Adding the inventory in QuickBooks can help the business cut down the time it takes to process and increase productivity, resulting in better profit and reducing the aged inventory and deadstock.

Before proceeding with the steps for adding inventory in Quickbooks online and desktop, it is necessary first to set up the inventory. This will allow you to complete the inventory procedure both on your desktop and online with ease.

Steps to Set Up the Inventory in QuickBooks Desktop?

Let’s follow the step-by-step points and set up your inventory in the QuickBooks desktop:

  • Firstly, open the QuickBooks desktop, go to the “Menu” option and select “Edit”.
  • Then, hit the “Preferences” option.
“Preferences” option
  • Next, go to the left side of your screen and click on the “Items & Inventory” tab.
  • Click on the “Company Performance” tab, and checking the box will make the inventory and purchase orders active.
Inventory in QuickBooks Desktop
  • Now, click on “OK”, which will display a warning message suggesting to close the window and open it so that it can change this preference.
Inventory in QuickBooks Desktop-2
  • Lastly, hit the “OK” on the warning message.
the “OK” on the warning message

When you are done with the set-up process in the inventory feature in QuickBooks, you are good to go with the steps of how to add inventory items in QuickBooks desktop.

How to Add Inventory Items in Quickbooks Desktop?

Once you are done with the above process of setting the inventories, follow the listed below steps to add the inventory items to the QuickBooks desktop. Let’s take a look:

  • Firstly, go to the home page of QuickBooks and select the “Services” icon.
  • Now, click on the “Select Items” option.
  • In the drop-down menu, select the item and hit the “New” tab.
  • Furthermore, select the “type” and then hit the “Inventory” option.
  • Then, enter the item identifier in the item name. This will help in tracking and identifying the items.
  • Fill in the unit of measure field (only if you use QuickBooks Premier or any above version).
  • Now, fill in the purchase information in the purchase field.
  • Go to the sales field and fill out the sales information.
  • When you fill out both the information correctly, QuickBooks automatically detects the COGS account (Cost of Goods Sold Account).
  • Fill in the “Income Account of the Inventory” located in the income account section. Resulting in a better inventory tracking process..
  • Lastly, after filling in all the requirements, enter the “OK” tab.

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How Can I Add Inventory in QuickBooks Online?

The answer to your question of how to add inventory items in QuickBooks Online is divided into three easy steps listed below. Adding the inventory in QuickBooks online will help you to seamlessly manage the accounting process. This will provide the user with both features and flexibility. Follow the steps to glitch-free processing in adding the inventory online:

Step 1:- Enable the Inventory management in the QuickBooks Online

In the QuickBooks, management and tracking are not enabled by default, which you must enable to start adding the inventory processing. If you have a QuickBooks plan, then only you can enable this feature. Follow the listed below steps and check if your subscription plan is enabled or not:

  • First, choose the “Gear On” icon.
  • Then, hit the “Account and Settings” option.
  • Click on the “Billing and Subscription” tab.
  • Now select the “View plan” tab to see all the plans with details.
  • At last, if you noticed that the subscription plan is not active, then enable it immediately.

Step 2:- Enabling the Inventory Tracking in QuickBooks Online

Follow the steps mentioned below to enable the inventory tracking in your QuickBooks online:

  • First, visit the home page and select the “settings” option.
  • After that, move to the “Accounting and setting” tab and click on the sales button.
  • In the sales tab, you have to go to the “Product and Services” section.
  • Now, simply click on “Edit”.
  • In the “product and services” column, enable the “Sales” forms.
  • Now enable the “Track the inventory” quality in hands.
  • Enable the Quality and price per rate.
  • At last, click on the save button, and it is done.

Step 3:- Fill in the Details of the Items

It is very important to fill in the essential information, including the name of the product, its category, product number and more. You can also add additional information for better data processing. If you want to create your data in an Excel sheet, then you can also import the Excel sheet on QuickBooks online. Follow the steps to fill in the information correctly:

  • The first step of how to add an inventory item in QuickBooks is to go to the main menu and select the “Sales” option.
  • Now, click on “product and services.”
  • Select the “New or Add product and services” option.
  • Select the inventory.
  • Theron, fill in all the necessary details. Also, add the HSN no. of the items. With this information, you can easily track the data in future.
  • In the unit drop-down menu, add the unit.
  • Now, go to the category drop-down list and select the appropriate category for the items.
  • In the stock quantity of the item block, type the quality item.
  • Choose the date of the tracking item from the date field. Automatically tracking of items starts on the selected date.
  • Now, add the low stock alert. This will help you to remember the warning message when the stock is in the low warehouse.
  • Choose the appropriate account for your item from the inventory asset account in the dropdown menu.
  • Create a new asset account for track items by clicking the inventory assets.
  • Thereon, go to the sales form.
  • Adding all detailed information which you want to be seen on the invoice, which has to be sent to the customer.
  • Fill in the price/rate of the sale.
  • Select the income account dropdown menu open.
  • You can also add a new account or choose the account to track the item.
  • Now, check the inclusive of tax.
  • Hit the Tax dropdown menu.
  • Now, select the correct tax rate which is applicable to that inventory item.
  • Then, go to the purchase form.
  • Add a detailed description of the item which is sent to the vendor, and this description will be showcased on the bill which is to be sent to the vendor, and then click on the “Expense Account”.
  • Now, choose the cost of the sales, which is majorly used for tracking the goods which the company sells.
  • Then, tick-mark the “Inclusive Tax” option.
  • Then, enter the “Purchase Tax”, which is on the drop-down menu.
  • Choose the essential purchase tax for the item or add the new one.
  • Furthermore, add the reverse charge related to the item as you wish.
  • You can also buy items from the supplier here (according to your preference).
  • Now, the items are recorded repeatedly by the supplier.
  • At last, complete the process by clicking on the “Save” option.

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Conclusion

So, this is it; we hope you get the answer to your question about how to add inventory in Quickbooks online and desktop. The above steps will make the whole process easy, fast and glitch-free. Just add the inventory in QuickBooks online and desktop, which gives you the exact value of the inventory of your company in just a minute if you are still facing the problem or stuck in a different situation. Then, don’t worry! Contact our specialist by dialing the QuickBooks support number. And get the best appropriate and detailed information regarding your doubts.

Benjamin James
Benjamin James

I am Benjamin james, a technical content writer with over 13 years of experience in the domain. My passion for technology and writing has helped me become an expert in software tools. Through my extensive knowledge and expertise, I am working to help the world leverage the power of technology.

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