Inventory items cost

Hi JohnHarasym,

QuickBooks is designed to make your work easier with its time-saving features. I'll be happy to share more information about this so you can get back to doing what you love.

Based on what you've described, if you have an item on your account that has a different price than what it is set to, you'd have to use QuickBooks Enterprise advanced features. QB Enterprise has an option for automatic costs updates which you can take advantage of. If you put a different cost on an bill it will ask if you want to change it to that. The process isn't fully automated as you'd have to manually confirm the cost. I recommend you to look into FIFO which is also a QB Enterprise advanced inventory option. You have the option to switch from average cost to FIFO (first in, first out) to calculate the value of inventory sold and on-hand. When you use FIFO, QuickBooks calculates inventory values based on the assumption that the first inventory items received are the first sold.

Let me know if this info helps. In case you have other questions, feel free to contact our support team using this link here.