Considerations for Inventory
At the beginning of this chapter, we discussed when tracking inventory might be appropriate for a retail-based business. If this feature is in use, at some point in time, the business will need to do the following:
- Update price lists
- Revalue inventory items
- Adjust stock quantities
Adjusting stock quantities was covered in Chapter 3, QuickBooks Online for Manufacturing Businesses, so please refer to the appropriate section within that chapter if you need help with that.
Updating Sales Prices
If you only have a few items where the default sales price needs to be increased or decreased, you can simply edit the Product/Service item and amend the price accordingly. However, if you have a lot of items, the last thing you want to do is spend a lot of time editing them individually. Thankfully, there is a much more efficient way to change a lot of values very quickly.
Toward the right of the Products and Services center, above the...