If you use inventory tracking in Quickbooks Online you may be confused when looking at your Sales by Product/Service Detail report.  Rather than list the sales of the items as they appear on your invoices, the report shows the same item several times. This is because QBO is tracking the movement of that item through the appropriate accounts, such as Cost of Goods Sold and the Inventory Asset account.

Inventory report detail

 

 

 

 

 

 

 

 

 



If you're not concerned with seeing this level of detail and would like to just see the items listed as they appear on your invoices, follow these steps to customize the report.

In either the Sales by Product/Service Detail report:

  1. Click Customize.
  2. In the Customize Sales by Product/Service Detail window, click Filter on the left.
  3. From the Distribution Account drown-down arrow, select All Income Accounts.

    select all income accounts













     
  4. Click Run Report.

The report will now only show one entry for the sale of your inventory item as it does on your invoice:

sales inventory report

 

 

 

 

 



 


For more information on how inventory tracking and cost accounting works in QuickBooks Online, you may find the following knowledge base articles helpful: 

Buying and Selling Inventory and Adjusting Quantity on Hand, see Buying and Selling Inventory and Adjusting Quantity on Hand.

Inventory Cost Accounting and Cost of Goods Sold (COGS) see Inventory Cost Accounting and Cost of Goods Sold (COGS).


If you need to see your quantity on hand for a certain date:

  1. Choose Reports > Balance Sheet.
  2. Click the link for the Total for Inventory Asset (or whatever account you are using for the inventory item).
  3. On the report that comes up, click Customize.
  4. Click Change Columns.
  5. Scroll down the available columns list, click Qty, then Add.
  6. Click OK.
  7. Above the Change Columns button, click on the Group By drop-down menu and choose Product/Service.
  8. Click Run Report.

If you need a report that totals your inventory valuation:

  1. Choose Reports.
  2. Search for Inventory Valuation Summary.
  3. Click to run the report.

 

4977