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tim80
Level 1

I have recently updated the costs of my products, the prodcut were created previously, however after inputting costs, no valuation shows up? how to fix

 
4 Comments 4
Catherine_B
QuickBooks Team

I have recently updated the costs of my products, the prodcut were created previously, however after inputting costs, no valuation shows up? how to fix

It's possible that we have zero quantity on hand, tim80. 

 

Let's refresh the page to see the updates we've made. To do that just press F5 on your keyboard. Then, let's pull up the item's QuickReport if the new item value now shows up. 

 

Here's how:

  1. Go to the Sales menu and click Product and Services
  2. Look for the item we just changed. 
  3. Click the drop-down arrow beside Edit
  4. Select Run report

Let's also make sure the report date is correct. 

 

I'm here if you have other questions. You take care always. 

Rustler
Level 15

I have recently updated the costs of my products, the prodcut were created previously, however after inputting costs, no valuation shows up? how to fix

@tim80 

 

Products, assuming you are asking about inventory items, get their cost from a purchase. You have to purchase the item first, just changing cost on the item screen does not do it.

Have you purchased the item using the item details part of the expense form, and specifying the item, qty and total cost?

tim80
Level 1

I have recently updated the costs of my products, the prodcut were created previously, however after inputting costs, no valuation shows up? how to fix

No the products were imported from an existing inventory. I think normally what would happen is that you would have your cost input as part of the product creation, and your initial stock starting at that time would be calculated from this point. However we did not have the exact costs worked out so all inventory items were uploaded with no cost input. So now we have items in inventory, and a cost for those items, but do not have an inventory valuation.

Hoping to find a solution on here that doesn't require re uploading 5000 products haha

Rea_M
Moderator

I have recently updated the costs of my products, the prodcut were created previously, however after inputting costs, no valuation shows up? how to fix

Hello there, tim80.

 

I'm here to share details about inventory valuation on your imported products in QuickBooks. This way, you'll be able to determine which report you'll pull up to view their cost.

 

When you import inventory products, their asset value will not show in the Inventory Valuation report even if you've added their cost manually. However, you can pull up the Product/Service List report to view the list of all items and their cost. Here's how:

  1. Go to the Gear icon.
  2. Select Products and Services.
  3. Click More.
  4. Select Run report.

 

I've attached screenshots below for your reference.

65 QBO Product Report.PNG66.PNG

 

Also, you can pull up the Inventory Valuation Summary report to view the complete list of your inventories with their quantity, asset value, and average calculations. Then, you can customize it to focus on the details that really matters. After that, you can memorize the report to save the current customization settings. For the detailed steps, kindly visit this article: Memorize reports in QuickBooks Online.

 

Please let me know if you have other concerns. I'm just around to help.

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