How Inventory Works in Quickbooks Online (QBO)

If you want to use the Inventory module in QBO, you need to have the QBO Plus subscription or higher. If you need a new QBO account, make sure you get the best deal on QBO for a full year here: www.claracfo.com/QBO Inventory is anything that you buy from vendors (or make yourself) and sell to customers. Knowing how inventory works in QBO can help you track, measure, and report your inventory correctly. This video will help you understand how inventory flows through QBO. 0:00 Inventory overview 1:20 Screenshare of QBO - where to find inventory 2:34 Creating new inventory items 7:36 Selling inventory items - invoicing 8:40 Accounting effect of selling inventory 9:49 Buying new inventory - bills 12:00 Accounting effect of buying inventory 14:54 What to do as you scale 16:50 What QBO level has inventory? To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: https://claracfo.com/services Here are some of the tools I trust and recommend to help you manage your business finances more effectively. These are affiliate links, which means I may earn a small commission if you use them—at no extra cost to you. Thank you for supporting the Clara CFO channel! 🔢 QuickBooks Online – 30% Off for 12 Months plus 30-day Free Trial https://claracfo.com/QBO Get organized with the most popular small business accounting software. 🏦 Relay Bank – Get a $100 Bonus https://www.claracfo.com/relay Modern banking designed for business owners. Sign up and deposit $100 to claim your bonus. 👥 Gusto Payroll – Earn $100 https://claracfo.com/gusto Run payroll and receive a $100 reward—perfect for growing teams. 💰 Monarch Money – Extended 30-Day Free Trial https://claracfo.com/monarch Smart personal finance software for entrepreneurs and families. 📊 RC Reports – Get $50 Off a Compensation Report https://claracfo.com/RCReports Ensure your S-Corp salary is IRS-compliant with a professional comp report. Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. CODE: TFZZTS9IS62XJJCX, YJSHXKP9AIEEIWBW