I moved to QBO. In QB desktop I would enter item receipt for product I bought then reconcile bills to the item receipt. How do I go this in QBO?

QuickBooks Online handles inventory purchases differently than Desktop, Barry. Since there's no Item Receipt feature in QBO, you can create purchase orders to track your purchases and reconcile bills. I'll show you the process below.

To record the items you intend to purchase from a supplier, create a Purchase Order first. Here's how:

1. Go to the + New on the upper right corner of your screen.
2. Select Purchase Order.
3. Enter the necessary details 
4. Hit Save and close.

Since a Purchase Order is a non-posting transaction, it doesn't affect your financial records. Once you receive the items, you need to create a bill, which is then posted to your accounts, updating your inventory value. Here's how:

1. Go to the Expenses menu, select Purchase Orders, and click on the one you created.
2. Click Copy to Bill to automatically route to a bill from the Purchase Order.
   
   
3. Review the bill details to ensure everything is correct, then click Save.
4. Navigate to Bills under the Expenses menu, and find your bill in the Unpaid section.
   
5. Click Mark as paid to complete the purchase cycle.
   
6. For an additional cost, add cost as an additional line item.
7. Once done, hit Save.

The status of the Purchase Order will then change to close showing that you've received the items or services ordered. See screenshot: 

Another option is to upload the receipt and convert it to expense. See this article for more details: Upload your receipts.

Additionally, check this resource to learn how to compare your income and expenses for different periods in QuickBooks Online: Run a profit and loss comparison report in QuickBooks Online and Online Accountant.

Let me know if you have any additional queries about purchase orders or bills in QuickBooks Online by leaving a comment below. I'm here to help you.