I buy finished product for resale to my customers. I am trying to figure out where and how do I report purchase transaction because I don't see "Purchase" account in CoA

You can add your purchase account in your Chart of Accounts (CoA) in QuickBooks Online (QBO), @mehul-damania. With this, you'll be able to report and track your purchase transactions accordingly.

QuickBooks automatically creates your CoA based on the industry and type of company you choose when creating your company file. It uses your list to organise your transactions on your reports and tax forms.

To create a new (purchase) account, here's how:

1. Go to the Gear icon.
2. Select Chart of accounts.
3. Click the New button.
4. In the Account Type drop-down menu choose an account type (i.e Expenses).
5. In the Detail Type field, select the detail type that best fits purchase transactions (i.e. Supplies & Materials).
6. Input all other necessary details.
7. Select Save and Close.

I've attached a screenshot below that shows the last four steps.

To learn more about your CoA in QBO, you can refer to this article: Understand the chart of accounts. It also includes the list of common CoA tasks like editing, deleting, and activating accounts to name a few.

I'll be around to help if you need anything else. Take care always.