When transferring your inventory item to QuickBooks Desktop, it is possible that existing sales or purchase transactions associated with the item caused QuickBooks to adjust the Average Cost automatically, Brita2.
Before making any changes to your company file, I recommend creating a backup to safeguard your data.
Reviewing the Inventory Valuation Summary report is essential to correct the Average Cost. This report provides details about the transactions that triggered the adjustments.
- Go to the Reports menu at the top and select Inventory.
- Choose Inventory Valuation Summary, then set the Dates to All.
- Locate the affected item (R0006, based on your screenshot) and double-click it to view detailed transactions.
Once we've identified the transactions associated with the item, we'll need to review each and make necessary adjustments. Here's how:
- From the Inventory Valuation Detail report, double-click the relevant transaction.
- Remove the item, then click Save.
- Add the item back in, then click Save again to refresh the details.
- Repeat these steps for all other transactions that require updates.
After completing these updates, return to the Edit Item window to verify the changes made to the Average Cost. I recommend reviewing this article for more information on Average Cost: Understand inventory assets and cost of goods sold tracking.
If you still have trouble correcting the Average Cost, I suggest asking your accountant for further assistance. They can provide professional guidance tailored to your accounting needs.
Feel free to reach out if you have additional questions or need further help.
