We do not resell the items we purchase. We use them.

Welcome to the Community, janetb1510. I’m here to assist you in effectively tracking inventory for your racing car business in QuickBooks Online.

While the platform doesn’t currently support tracking operating supplies, you can still manage your parts and materials effectively by entering them as inventory items. Every time you use these items to rebuild cars, you can create an inventory quantity adjustment. I'll walk you through the process.

First, set up the parts and materials as inventory items. Then, follow these steps to create an inventory quantity adjustment:

1. Go to the +New button.
2. Select Inventory qty adjustment.

    

3. Fill out the form.
4. Click Save and close.

Additionally, I recommend consulting with an accountant for tailored advice specific to your business's needs. They can help ensure that your financial records are accurate and compliant. If you don’t have a current accountant, you can utilize our accountant tool to find a professional nearby.

For further information on managing your inventory, here’s a helpful article: Set up and track your inventory in QuickBooks Online.
 

I'll also leave this guide on running reports to know what's on hand and what's in stock: Use reports to see inventory status.

Feel free to reply to this thread if you have any other questions or need further assistance in tracking your inventory. I'm right here ready to guide you every step of the way. Keep safe, janetb1510!