If I purchase stock items and then at a later date use some of them within the business, how do I transfer them to an expense account?

Welcome to the Online Community, chris155.

To easily track your stock items, create an expense account, and then make an invoice to record the transaction. Setting up the information can be done with just a few clicks.

Here's how to enter an expense account:

1. Go to the Accounting menu on the left panel and choose Chart of Accounts to open the All Lists page.
2. From there, tap the New menu to view the Account window.
3. Choose Expenses for the Account type and then select Advertising/Promotional as the Detail type.
   
4. Type in the name in the Name field and fill in the remaining field boxes.
5. Click Save and close.

Once you use some of the items, create an invoice to record it in your company. Next, enter a journal entry to clear the income, credits the customer in Accounts Receivable, and credits Cost of Goods to record the Expense.

To continue with the process, follow the recommended steps in the Write off inventory items given as promotional samples article. Then, proceed directly to the Create a journal entry section and continue up to Apply the credit note.

Stay in touch if you have any other concerns or questions about QBO. I’m here to answer them for you. Enjoy the rest of the day.