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Level 3

Finished goods and raw materials inventory report

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?

5 Comments
Highlighted
QuickBooks Team

Finished goods and raw materials inventory report

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.

Highlighted
Level 3

Finished goods and raw materials inventory report

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. 

Highlighted
Level 3

Finished goods and raw materials inventory report

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. 

Highlighted
Level 3

Finished goods and raw materials inventory report

Unless there is a better way, I think this is what I am going to do. 90%-95% of our finished goods are assembly items. The report can split assembly with reg inventory items. If I split the report, I can just go in and pick out the few 5%-10% of items that are finished goods. 

Highlighted
QuickBooks Team

Finished goods and raw materials inventory report

The workaround provided by my colleague is the only way to achieve what you need, Joneill1186.

 

I know how convenient it is to get the information in one report. I'm taking notes of our customers' concerns. I'll be sharing this with our management team. This will be reviewed and might be added in future updates.

 

You can also check this article on how to create, access, and modify memorized reports in QuickBooks Desktop for future reference.

 

If you have other concerns, please let us know. We'd be happy to help you. 

 

 

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