Import Inventory from Excel

Yes, you can import Inventory with Quantity on Hand as well.

To Import from Excel spreadsheet (see attached sample spreadsheet format below)

Inventory Excel Format
Inventory Excel Format
  • GO the Company Gear (located at upper right hand corner)
  • Select “Import Data” under Tools heading
  • Select “Product and Services”
  • Click “Choose File” button to import
  • Follow the instructions

I would recommend importing few inventory items first and review it.
It will post inventory to Inventory Asset account as debit side and Opening Balance Equity as credit side. So, you may have to reclassify from Opening Balance Equity to some other appropriate account to close this account.
Note: They do have inventory limit up to 1000 items.