Is there a way to track the actual cost of an item that is being invoiced?

Unknown

I love the invoice feature, and how I can add items that it keeps a running list of.  However I would love to know if there is a way that I can track the actual cost of the items that are attached with these invoices.  Then when my profit and loss report prints I can see that I spent $xxx.00 for the invoices associated with the purchase.  I am small business, don't want to have to track cost of goods on separate program.  Thought this was one stop program for these things.  Running 2018 version.

UKR

Sorry to disappoint you, but if you're in the business of manufacturing items for sale, Quicken H&B is not for you. It does not have the functions for tracking cost of goods and handling inventory.

If you must have these features, you may want to take a closer look at QuickBooks. http://quickbooks.intuit.com/

NotACPA

The invoicing features in Q can handle  billing for time and billing  for expenses/materials at actual cost.
It can't handle inventory, inventory markups, etc.  It also doesn't have any payroll functions.
I concur with UKR that it sounds like you need Quickbooks.  FORTUNATELY, Quickbooks can import your Quicken data file if you've input anything into it.