Set Up Inventory After a Desktop Import

After you import inventory items from QuickBooks Desktop, the items appear in QuickBooks Online Products and Services, but inventory tracking is not turned on automatically. Set up tracking and enter opening quantities before you record new sales or purchase transactions, using the Desktop Inventory Valuation Summary as your source.

Turn on inventory tracking first

QuickBooks Online will not track stock on imported items until the company setting is on. Open Settings (gear icon), select Account and settings, then choose Sales. In the Products and services area, turn on Track quantity and price/rate and Track inventory quantity on hand. Save these settings before you open any item.

Until tracking is enabled, QuickBooks Online treats imported items as non-inventory products or services. Sales and purchase forms will not reduce a stock count or post to the inventory asset account. Turning this on after transactions are posted is harder to correct, so do it before sending invoices or bills.

What is the opening balance as-of date?

The as-of date is the date the opening inventory is recorded in QuickBooks Online. Choose a date that falls before any new online transaction that would change stock, usually the conversion date or the first day of your first full period.

Run the Inventory Valuation Summary in QuickBooks Desktop as of that date. Keep a dated copy of the report for each item’s quantity and value. If the Desktop file is no longer available, use the last report or backup you exported before the conversion.

Enter the opening quantities

Start with a printed QuickBooks Online Balance Sheet before you enter balances. Then:

1. Open Settings (gear icon) and select Products and Services.
2. Choose an imported inventory item.
3. In the Product/Service information section, select Track inventory.
4. Enter the As of date.
5. Enter the Quantity on hand and Inventory asset account from the Desktop report.
6. Select Save and close.

Repeat the steps for each inventory item. The inventory asset account is usually Inventory Asset, but use the account that already exists on your imported chart of accounts.

Check the imported balances

After every inventory item is saved, run the QuickBooks Online Balance Sheet again. Compare the inventory asset balance with your printed baseline. Also run the QuickBooks Online Inventory Valuation Summary and compare it with the Desktop report at the same as-of date.

If the balances differ, check three things: the As of date on the item, transactions dated before the opening date, and quantity or value typos. Correct those before posting new transactions.

How we help

If the imported inventory still does not tie, we can review the Desktop Inventory Valuation Summary and your QuickBooks Online Balance Sheet and provide a line-by-line reconciliation. We work from the reports you export, so we do not need access to your Intuit account.