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I can tell why the Inventory Asset account on the Balance Sheet report is showing an amount, puja-eclectiquec.
The Balance Sheet report draws information from the accounts whether they are associated with items or not. The data file has a discrepancy in the Inventory Asset account when:
This may happen if:
To fix the amount on the report, please refer to this article: Balance Sheet and Inventory/Stock Valuation reports show different amounts for the Inventory Asset a.... It shows for QuickBooks Desktop, however, you can run the same report and find affected transactions.
Access reports to instantly see your best sellers, what’s on hand, the cost of goods, and more. In addition to this, you can learn how to use reports to see inventory status and performance.
Keep me posted if there's anything else you need about the Inventory Asset account on the Balance Sheet report. I'll be around to provide answers to your questions.
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