Hi. I recently noticed that one of my inventory items is no longer showing up on my balance sheet or chart of accounts. I can find it on the item list. It is there when I go to make invoices. I can find it other places. But when I pull the report it is not there. The item is active. It has quantity and value on hand. I can increase the value when bills are entered. Why doesn't it show up on my reports????? Thanks for any and all help!
Please let me know if you have further questions or concerns. I'll be here to help you every step of the way. You can always reach out to the Community or me anytime you need a helping hand in getting back to business. Take care!
Thanks for getting back with us, Stephanie810. I appreciate you trying our troubleshooting steps. That helps to better identify what's going on.
I reviewed some of our resources and found that when a Balance Sheet report is out of balance, you'll want to initially run it in accrual basis, which you might already be doing. If it's still misbalanced when generated in this way, or if it is out of balance when baseses are set to cash only, a rebuild and verify are recommended. Since you've already performed this process, you can continue to the next step.
Before going over the second set of steps, I'd like to point out that Intuit recommends asking your bookkeeper or accountant for help before continuing due to these types of reports being tricky. If you don't have one, there's an awesome tool called Find an Accountant which may come in handy.
The secondary fix is locating where your balance document began displaying incorrectly. To do this, you'll need to locate the transaction(s) causing problems.
These can be identified by finding the date where your report went out of balance: 1. In the top menu bar, go to Reports, Company & Financials, then Balance Sheet Summary. 2. Click Customize Report. 3. Open the Display tab and choose All in the Dates drop-down menu. 4. Access your Report Basis area. If it's not displaying correctly in accrual only, pick Accrual. Otherwise, go with Cash. 5. In the Columns section, use our Display columns by dropdown and elect Year, then hit OK. 6. Compare total assets with totals for liabilities and equity to identify where your sheet is going out of balance.
After you find the year, you'll want to begin narrowing down the exact date. Once that's been found, a Custom Transaction Detail report can be ran for it to find the transactions that are making your document display incorrectly. Next, they can be re-dated.