QuickBooks Online has everything you need to manage your inventory. Track what’s on hand, get alerts when it’s time to restock, and see insights on what you buy and sell. We’ll help you set it all up and get going.
Step 1: Turn on inventory tracking
If you haven’t yet, turn on these settings so you can add your inventory.
- Go to Settings and select Account and Settings.
- Select Sales.
- Select Edit in the Products and services section.
- Turn on Show Product/Service column on sales forms.
- Turn on both Track quantity and price/rate and Track inventory quantity on hand.
- Select Save and then Done.
Step 2: Add your inventory products
Now that your settings are in order, you can add your inventory items.
Add things you buy or sell but don’t track as inventory
Not everything you buy or sell is part of your inventory. Here are other things you might also need to set up in QuickBooks:
- Add any services you provide to customers. For example: landscaping or bookkeeping services.
- Add non-inventory items. These are things you buy or sell but don’t (or can’t) track as inventory. For example: nuts and bolts used in installation.
- Create a bundle for any collection of products or services that you sell together. For example: a gift basket of fruit, cheese, or wine. Adding these products in a bundle saves you from having to select them one by one in invoices or receipts.
Step 3: Keep track of what sells
Once you set up all your inventory products, you track them when they sell. There are two ways to track what you sell:
- Create an invoice if you’ll get paid later.
- Add a sales receipt if your customer paid on the spot.
QuickBooks then decreases what’s on hand by the amount on the invoice or sales receipt.
Check what’s on hand and what’s on order as you work
Check what’s on hand and what’s still on order as you work on an invoice, sales receipt, or another type of transaction. Just hover your pointer over the quantity you entered for an item to see more info.
If you set reorder points, QuickBooks will also let you know when something’s running low.
Note: To check all your products’ quantity on hand, go to Sales then Products and Services. Or run reports to check what’s in stock at any time.
Step 4: Restock your inventory
QuickBooks tells you when it’s time to restock. You can order inventory right in QuickBooks. Then, track what you receive from suppliers and what’s still on order. When you do, the quantity on hand automatically increases by the number of items you receive.
Step 5: Use reports to check the status of your inventory
Access reports to instantly see your best sellers, what’s on hand, cost of goods, and more.