BS Inventory Value for a specific item not matching value in the Item Report

Hello, JS4510. 

I can provide some insight into the differences between the BS Inventory Balance and the Inventory Valuation report. 

The Balance Sheet report pulls information from accounts, whether or not they are associated with products. The Inventory Value reports, on the other hand, exclusively use information from items. This means that transactions involving inventory goods show on both reports, but transactions involving non-inventory products appear only on the Balance Sheet report. 

The following are some examples of transactions that will display on the Balance Sheet but not on the Inventory Valuation reports: 

• Bills, checks credit card charges with the Inventory Asset account on the Expenses Tab.
• Journal entries using the Inventory Asset account.
• Inventory adjustments offset to the Inventory Asset account instead of a COGS account. 

To resolve the issue, consider one of the following solutions: 

1. Use the Balance Sheet and Inventory Valuation reports to find all transactions causing the discrepancy.
2. Locate the bills or checks that affected the Inventory Asset account without using items. You can edit the transaction by associating an item.
3. Find and correct journal entries that affected the Inventory Asset account without using items.
4. Find and correct inventory adjustments that use the Inventory Asset as the adjustment account. Delete all transactions on the report then re-enter them.
5. Find inventory adjustments with dates in the future. If inventory adjustments are dated in the future, change the date range to include all future adjustments, and then re-run the Inventory Valuation report. 

 Adjustments can be tricky, thus I recommend consulting with an accountant. If you need a handy reference, refer to these following articles:  

• Balance Sheet and Inventory/Stock Valuation reports show different amounts for the Inventory Asset a.... 
• Adjust your inventory quantity or value in QuickBooks Desktop.

If you have any further questions about managing inventory in QBDT, please leave a comment below. I'm just here to help.

Unfortunately it isn't a non-inventory item that is causing the discrepancies.  There are differences in build assembly numbers (value of the assembled good supplied by QB) and then another difference in the value of the goods sold (again, assigned by QB).  I've attached documents showing the issue.

Hi there, @JS4510.

It seems like the documents you want to share were not attached to your post. Let me guide you on how to attach files to your post in QuickBooks Community. 

Here's how:
 

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Any information and files you can provide will be appreciated, it'll be a great help for us to check the issue further.

We're looking forward to getting this sort out. Feel free to provide us with more information by leaving a reply. The Community team always has your back. Have a good one.

There is no update on this? I am having the same issue and would love some help. 

There is no fix for this as yet? I am having the exact same issue.

So this is what I found and so far it has worked.

I compare these 2 reports:

• Inventory Valuation Detail
• Transactions by Account - Total by Item Detail

I am able to find where the issue and it is usually a build that has messed up for some unknown reason (Intuit couldn't explain why).  I have fixed it by creating a new build and deleting the build with the issue.

Hope this helps.