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Difference in Inventory reports

Forum|Forum|3 years ago
July 6, 2022
4 replies
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My company uses Quickbooks enterprise, and we have most features turned on including multi-currency and advanced inventory (we use FIFO costing).

Our Inventory valuation summary and our Inventory valuation by site reports are showing different asset value for the same date. The Inventory valuation by site report agrees to the trial balance. No filter has been changed or added to the standard reports except the date.

I have verified and rebuilt the file but the difference is still there. I pin-pointed the exact date when these two reports started being different and ran the Inventory Valuation detail report for that date, but all the transactions seem OK.

Is there anything else I can do to correct the difference in these two reports?

QuickBooks Enterprise Suite

Best answer by JosetteB

Just an update. I was not using the latest version of QB Enterprise, so we upgraded to the latest version over the weekend and ran the verify and rebuild tool again. The problems were all fixed. Thank you.

AlcaeusF

Level 14

Hi, @JosetteB.

Thanks for sharing the steps you've performed to fix this. I'm here to help ensure this is taken care of for you.

If the dates of the reports are the same, they should have the same asset value. Since the issue persists after performing the Verify and Rebuild utility tool, I highly suggest contacting our Support team. They have tools such as screen-sharing (remote access) that pull up your account in a secure environment and check the cause of this issue. They can also perform other troubleshooting steps if necessary.

Here's how to reach them:

In QuickBooks Desktop (QBDT), go to Help menu at the top, then select QuickBooks Desktop Help.
Click Contact Us.
Give a brief description of your issue, then tick Let's talk.
Choose a way to connect.

To see our Support hours, please refer to this article: Contact QuickBooks Desktop support.

In QBDT, reports are based on a set of instructions known as a Report set. With this, information is extracted from the data file and shown as a set of transaction lines. To learn more about this, kindly check out this article: Understand reports.

For more tips and other resources, I recommend visiting our website for future reference: Self-help articles.

Please let me know if you have additional questions about reports or anything else QuickBooks. I'll be here to assist. Take care.

J

JosetteBAuthorAnswer

Just an update. I was not using the latest version of QB Enterprise, so we upgraded to the latest version over the weekend and ran the verify and rebuild tool again. The problems were all fixed. Thank you.

AlcaeusF

Level 14

Hello @JosetteB,

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

We love to see members supporting one another! Have a great day.

J

JosetteBAuthor

Just an update. We were not using the lastest version of QB Enterprise so we upgraded over the weekend. When we ran the verify and rebuild tool again it fixed all the problems. Thanks.

S

Steve8888

New to this community but we're considering implementing QuickBooks' inventory system; however, the information I have received hasn't been very helpful. I would really appreciate speaking with an actual user in order to find the capabilities of their inventory system. If this request is inappropriate, my apologies but I have spoken with four different people at QuickBooks and none of them even know the different costing methodologies available. Any suggestions about a platform where I can become knowledgeable about the inventory capabilities would be appreciated. Thank you.

Rainflurry

Level 11

@Steve8888

QB Desktop products (Premier, Enterprise) use average cost and QB Online uses FIFO. Do you have a specific question beyond that?

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