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joneill86
February 25, 2020
Question

Finished goods and raw materials inventory report

  • February 25, 2020
  • 7 replies
  • 30 views

Hi! 

 

I am looking to generate a report to show our finished goods inventory value and our raw material inventory value. 

The items are defined as such by assigning the item to the FG or RAW asset account in the item card. 

When I run the report REPORTS --> Inventory ---> inventory valuation summary 

I customize report, filter by account, and set it for either the FG or RAW account, but nothing happens. It doesn't filter anything. 

How can I create a report to show the inventory valuation summary for the specific accounts?

7 replies

MariaSoledadG
MariaSoledadGQuickBooks Team
QuickBooks Team
February 25, 2020

Hi joneill1186,

 

The Inventory Valuation Summary Report will only show the quantity summary, average cost and extended value of each of the inventory. You'll want to run the Custom Transaction Detail Report to show the specific account of the item. 

 

Here's how:

  1. Click Reports on the upper menu.
  2. Select Custom Reports.
  3. Choose Transaction Detail.
  4. Go to the Display tab, filter accounts, and item to show it on the report. 
  5. Click OK.

Once done, export the Inventory Valuation Summary and Custom Transaction Detail report to Excel. Then, consolidate both reports to show the inventory valuation summary for specific accounts.  

 

You can also add or delete columns on your reports. Here's an article for more information: Customize Reports in QuickBooks Desktop.

 

If you have any other questions, feel free to comment below. We're always here to help you.

joneill86Author
February 25, 2020

Ok, so basically for my hundreds of items, I have to go through and tally each one? There has to be an easier way to do this. 

joneill86Author
February 25, 2020

Sorry, I didn't mean to be snarky. I just feel that's an asinine way to give an inventory valuation report of RAW material and finished goods. I'd be better off manually going through the spreadsheet and separating the two categories. 

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