Hi. I lumped my inventory into one "inventory" asset, but need to break it down now. How do I delete that inventory and create a new list?
Let's do this the right way
create a dummy cash bank account and a dummy vendor
debit the dummy bank, and credit the inventory asset account you used for the full amount
Now use a check on the dummy account, do not print this is data entry, and "buy" each item you have in stock from the dummy vendor. for each item be sure to use the qty actually on hand, and the total cost of that qty.
I suggest you create the inventory items first, creating them from the transaction will sometimes hang QB.
When you are done, the dummy bank must be zero balance, then you can make it inactive.