Inventory Adjustment Error

I love to help you, Shannon.

In QuickBooks Online, you can adjust an item's quantity without recording a purchase or sale to match what you actually have in stock. To ensure that I'll be able to provide you with the most accurate solution, can you provide the screenshot of the error and recorded inventory? It seems that they weren't attached to your original post.

Looking forward to your reply. Have a great rest of the day.

Thank you for your help! I have been on the phone with Intuit Support and they've directed me to Tier 3 Support, but I welcome your help also! 

 Screenshot attached. The crux of the issue is that QBO limits how many FICO units can be used in an inventory adjustment and this particular false inventory has been accruing since 2013. 

   Thanks for adding the screenshot, Shannon in Colorado.

The error you encountered usually occurs when you attempt to create an adjustment for a company that has no inventory. Since the program requires a particular number of FIFO units for a single sale, you may need to contact our technical support. This way, we'll be able to pull up your account and perform the adjustment for you. here's how to connect with us:

1. Go to the Help icon.
2. Select Talk to a human.
3. Enter "Talk to a human" again in the search bar.
4. Choose I still need a human, then click Contact us.
5. Select Get a callback or Send a message to start a conversation.

Keep me posted if you have any other concerns or follow-up questions about inventory. Take care and have a good one.

Thank you so much! Will contact tech support and will post updates here. 

@Shannon in Colorado 

Are there actual inventory products in QBO that need to be removed or is that $7M balance just recorded as inventory on the balance sheet with no products in QBO?  If there are no products, this can be easily handled with a journal entry.  The bigger question is: has this business been recording purchases as inventory when they should have been recording them as expenses?  I can't imagine they under-reported their expenses by $7M over the past 10 years but, if that's the case, you need a CPA/tax accountant to help reconcile this.

Thanks for your help! It's a service business with no actual inventory that has been accruing inventory via a inventory item on invoices called "project costs" that should have been a non-inventory item. The $7.9M adjustment was too big for QBO to handle at once, so I broke it out into eight $0 invoices. Included a screenshot of my solve in another post on the thread.