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EL34
Level 4

QB desktop cost of goods is wrong after update

QB2017 pro desktop
Yesterday I received a popup that said there was an update ready to be installed

The update installed and then it said it had to modify my company file.
That all finished and I was processing sales receipts all day without any problems

Now today I noticed in the P&L report for this month that the cost of goods is not correct.
Here's just one example of a sales receipt transaction detail
Look at my screen shots
The 3 income sections at the top are all correct

The Cogs/parts section is wrong.
For example, look at the mini shielded cable amount is -87.86
That items cost is .20 each in the item list x qty 3 = 0.60 cost
I have no idea where QB is pulling these cogs figures from?

Nothing has been changed by me in any of the accounts or setups in QB
Look at the screen shots below
All the cost of goods prices are wrong

cable2.pngcable.png
cable3.png

7 Comments 7
Michael K
Moderator

QB desktop cost of goods is wrong after update

Hey there, @EL34. Glad to have you here.

 

To resolve this issue, you'll need to rebuild your file. No worries, it takes less than 15 minutes and can be completed in just a couple clicks. To do this:

 

  1. Go to the File menu. Then hover over Utilities and select Rebuild Data.
  2. On the QuickBooks Information window, select OK. Follow the onscreen steps to save a backup.
  3. Let the tool repair your file. It may take some time. QuickBooks may seem stuck, but as long as you can move your mouse, the tool is working.
  4. When the tool finishes, select OK.
  5. Open QuickBooks and your company file. Everything should be fixed.

If the issue persists, continue following the steps outlined in Resolve data damage with your QuickBooks Desktop company file.

 

That's it! Please touch base with us here if there's anything else you need, I'm determined to ensure your success. Thank you for bringing us your questions.

EL34
Level 4

QB desktop cost of goods is wrong after update

Ok, thanks
I'll do that after I close tonight and let it run
I'll report back

EL34
Level 4

QB desktop cost of goods is wrong after update

Ok, Rebuilding the data did not work
It found one issue and fixed it, but the P&L is still wrong
All the cost are incorrect

This is the one issue it found
---------------------------------------------------------------------------------------------
qb1.png


EL34
Level 4

QB desktop cost of goods is wrong after update

Michael K
Moderator

QB desktop cost of goods is wrong after update

Thanks for providing me with an update, @EL34.

 

I recommend contacting our QuickBooks Desktop Support Team to further investigate this issue, as they have the tools necessary to determine the cause of the issue. I've included the steps for contacting them below:

 

  1. Open QuickBooks.
  2. Go to Help, then select QuickBooks Desktop Help.
  3. Select Contact Us.

     
  4. Give a brief description of your issue, then select Continue.

     
  5. We’ll provide you a few support options. Select which one is best for you.

 

Please touch base with us here if there's anything else you need, I'm determined to ensure your success. Wishing you and your business continued success in all that you do.

EL34
Level 4

QB desktop cost of goods is wrong after update

Thanks but the people from QB on the phone were useless
They want me to buy QB2020
They had no idea why the cost of items were wrong.
Total waste of my time and about an hour on the phone
---------------------------------------------------------------------------------------------------------------------
Since then I have figured out where these exaggerated items cost are coming from
The average cost is way off for the item below that I am using in a test sales receipt
I created a sales receipt and sold one item and the cost is .20 each
I ran a report that shows income and cogs for that one sales receipt
The cost shows as -29.29 for that .20 item
I looked at the item and the cost is correct at .20
But the average cost is showing as 29.28667Round that up and you get 29.29
The average cost is where the issue is
Note that the on hand is -339

Screen shots below show this 
QBSales Receipt.pngQBReport.pngQBAvgCost.png


EL34
Level 4

QB desktop cost of goods is wrong after update

I found this post here that seems to be the same as my issue with average cost
https://quickbooks.intuit.com/learn-support/en-us/other-questions/re-average-cost-of-an-item/01/4176...

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