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Community Explorer **

Inventory Valuation Summary and Balance Sheet Details differing due to starting balance

We seen to have a critical problem with our inventory. Our Inventory Valuation Report shows anomalies with our stock. Quantity can be at zero but still with an asset value (Some Positive, some negative). When we migrated to QBO, the first entry of a product was the combined total of all asset adjustments made in our previous system (Reckon). The problem seems to be the unit price at the time of adjustments varied, but the QBO beginning adjustments has used the most recent unit price.

2 Comments
QuickBooks Team

Re: Inventory Valuation Summary and Balance Sheet Details differing due to starting balance

HI Wholesaler, this sounds like it could be a case for one of our QBO experts. Try giving them a call here: https://help.quickbooks.intuit.com/en_AU/contact

 

Cheers,

Community Explorer **

Re: Inventory Valuation Summary and Balance Sheet Details differing due to starting balance

I have been in email contact, the best answer I have had so far is to do an adjustment for each item. This would mean getting an Inventory Valuation Report for each item individually (the report is too large otherwise) and then comparing it to a Inventory Valuation Report from Reckon to workout the variance between the individual adjustment and the bulk adjustment. Was hoping the community may have another answer as we have 2300 products on file