Can anyone help. I initially entered the value of each stock item but this showed as retained profit not stock. Any advice?

I'd be delighted to help and ensure you entered your stock value accurately, Brad.

There's a possibility that the start date was set to a close period, thus, it's the reason why the stock item is shown as retained profit. To isolate this, let's edit the start date of your stock item and ensure it's not set to a closed date. Here's how:

1. Go to the Gear icon in your QuickBooks Online (QBO) account.
2. Select Product and services.
3. Locate the stock item and click the Edit link under the ACTION column.
4. Make some changes if needed.
5. Click the Starting value link under the Quantity oh hand section.
6. Adjust the As of date of the stock item.
7. Make some necessary changes then click Save and close once done.

I'd also suggest consulting with your accountant to further guide you in keeping your stock and accounts accurate. If you're not affiliated with one, you can visit our ProAdvisor page and we'll help you look for one from there.

Moreover, I'm adding this link that can guide you in efficiently keeping track of your stocks: Set up and track your stock in QuickBooks Online.

I'll be around if you need more help setting up your Stock items. I can also answer any QuickBooks concerns you may have. Just add them in your response and I'll take care of it for you. Have a good one and wishing you continued success!