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Priscilla Mwendwa
May 17, 2022
Question

Adjusting cost of products

  • May 17, 2022
  • 1 reply
  • 0 views

Have uploaded products and services for my company and i didnt put cost price, consequently most of the invoices have not reflected the right cost of sales

What should be done to make sure that old invoices reflect cost of products?
I aslo upload some invoices wrongly and they are many to delete one by one

1 reply

A
AbegailS_
May 17, 2022

I'd like to help you fix this, @Priscilla Mwendwa. 

 

First, let me show you where you can add the cost of your products in QuickBooks Online (QBO). To make sure that your next set of invoices will have the right cost price. Here's how:

  1. Go to Products and services.
  1. Find the product or service on the list and select Edit in the Action column.
  1. Select I purchase this product/service from a supplier.
  1. Add a description. This shows on bills, purchase orders, and other forms you send to suppliers.
  1. Add the Cost. If the price changes, don’t worry. You can still enter the updated price when it’s time to buy supplies.
  1. Select the Expense account dropdown and then the account you use to track the cost of things you sell.
  1. Select your preferred supplier.
  1. When you're done, select Save and close.

 

If you want to change the invoice cost price, you can manually edit it. Or delete and recreate the invoice.

 

To learn more about managing product and service items in QBO can be found in this article: Add product and service items to QuickBooks Online.

 

To help you with future tasks and tips when using QBO, you might want to visit our Help Articles.

 

Get back to me if you need help with something else. I'd be happy to assist. Enjoy the rest of the day!

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