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:
- The accrual basis Balance Sheet Standard run for All dates shows an amount.
- The Inventory Valuation Summary and Detail reports for all dates show a different amounts.
This may happen if:
- You have transactions to the Inventory Asset account that do not have inventory items.
- You have inactive inventory items that have a non-zero value.
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.
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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.
