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C
ChiColorLabel
January 9, 2022
Solved

Inventory (QOH) Adjustment Value Changed

  • January 9, 2022
  • 1 reply
  • 2 views

We entered a very large QOH inventory adjustment on 1/3/2022 (back dated to 12/31/2021 for a conversion from Sage 50).

 

Today when I checked the balance sheet, I noticed the value of the inventory account associated with that adjustment had increased. When I looked at the original inventory adjustment record in "Adjust Qty/Value On Hand", it shows the new amount as well (an increase of $17,073.12). It seems this value changed between yesterday and today.

 

** SCREENSHOT OF BOTH ATTACHED

 

Aside from modifying the inventory adjustment itself, does anyone know what kinds of transactions would cause this value to change for a historical inventory adjustment?

Best answer by AlexV

Hi ChiColorLabel!

 

Thanks for the reply. Let me share more details about this issue with the inventory adjustment.

 

The inventory value of the adjustment should not be changed even after creating multiple transactions. You'll want to ensure that your company file is not damaged by following these steps:

  1. Select Close All from the Windows menu.
  2. Go to the File menu, select Utilities. then Verify Data.
  3. Wait for it to scan your file.
  4. Go back to the File menu, Utilities then Rebuild Data.
  5. Click OK when you get the message "Rebuild has completed".

 

Also, make sure you have the latest fixes by updating QuickBooks Desktop to the latest release.

 

Once done, review your Balance Sheet again to verify if everything's good. I added this link for your reference in adjusting the quantity or total value of your products: Adjust your inventory quantity or value in QuickBooks Desktop.

 

Lastly, I added these links if you encountered other concerns with your balance sheet:

 

Shoot me a reply and I'll help you. Wishing you all the best!

1 reply

Rubielyn_J
Rubielyn_J
Level 8
January 10, 2022

I appreciate you for sharing a screenshot, @ChiColorLabel. This helps me to have a visual view of your concern.

 

QuickBooks Desktop updates inventory quantities and value as you track every purchase and sale. Aside from that, it could be that someone created an adjustment. To verify, we can use the Audit trail. 

 

Here's how:

 

  1. Click Reports at the top menu bar.
  2. Select Account & Taxes.
  3. Choose Audit Trail.

  4. Click the Customize button to add the filters and show the data you want. 

 

Additionally, let me share this link to help you adjust the quantity or total value of your products. It also includes the idea of how to view your inventory status reports and make sure everything looks good.

 

Please feel free to leave a reply on this thread if you have any additional questions about inventory adjustments. I'll be happy to help. 

C
ChiColorLabelAuthor
January 10, 2022

Thanks Rubielyn_J,

 

There have not been any adjustments made according to the audit trail report.

 

When entering a QOH inventory adjustment, I would assume the inventory value as of the date the adjustment is static. Is that not the case? It sounds like your saying the inventory valuation affects historical inventory values as well as future ones. Is that correct?

 

 

AlexV
AlexVAnswer
Level 10
January 10, 2022

Hi ChiColorLabel!

 

Thanks for the reply. Let me share more details about this issue with the inventory adjustment.

 

The inventory value of the adjustment should not be changed even after creating multiple transactions. You'll want to ensure that your company file is not damaged by following these steps:

  1. Select Close All from the Windows menu.
  2. Go to the File menu, select Utilities. then Verify Data.
  3. Wait for it to scan your file.
  4. Go back to the File menu, Utilities then Rebuild Data.
  5. Click OK when you get the message "Rebuild has completed".

 

Also, make sure you have the latest fixes by updating QuickBooks Desktop to the latest release.

 

Once done, review your Balance Sheet again to verify if everything's good. I added this link for your reference in adjusting the quantity or total value of your products: Adjust your inventory quantity or value in QuickBooks Desktop.

 

Lastly, I added these links if you encountered other concerns with your balance sheet:

 

Shoot me a reply and I'll help you. Wishing you all the best!

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