How do I fix an item showing an inventory asset value and no inventory?

I appreciate all your efforts in trying to fix your inventory issue, KLB_1.

Let’s go to the Products and Services page and review the item’s setup. Then, update the details to fix the issue.

An item will show that it has an asset value with no inventory when the Starting value is incorrect. Also, there was an adjustment created for the product.

1. Tap the Sales menu on the left panel to choose Products and Services.
2. From the list, select the item you’re working on and hit the Edit button under the Action column.
3. Go to the Quantity on hand section and hit the Starting value link to see more information about the product.
4. Choose Got it to confirm the action.
5. On the Inventory Starting Value # Start page, check the item details and make sure the data entered is correct.
6. If it’s incorrect, update the information.
7. Click Save and close.

If there's an adjustment entered for the goods, run through the data and make sure it’s correct. Follow the steps in this article on how to check information. Proceed to the Edit or delete an inventory quantity adjustment section to view the complete instructions: Adjust inventory quantity on hand in QuickBooks Online.

For future reference, I’m adding a link that contains solutions on how to resolve negative inventory issues in your company.  

Please let me know if I can be of further assistance. I’ll be happy to lend a helping hand. Have a good one.

Below you will see what I am experiencing.  Upon review, everything looks OK, from the start qty / value, as well as all of the transactions and adjustments.

I attempted to correct the valuation via more adjustments, but realized that every transaction would change both the inventory and the valuation.  I then deleted the adjustments I made.

I did this for both items, the same way, and in the same entry.  I went back to validate I hadn't changed anything, and the first item below was fixed!  The second item was not.

I have to believe there is a bug or a transaction that is hung up.  I have no idea what to do now.  I suspect the issue occured in May for both of them based on my review of all of the transactions - qty vs valuation.

Any ideas? 

Hello there, KLB_1.

I appreciate following the steps I provided and sharing the result. Let me help point you in the right direction in resolving your inventory concern.

We’ll have to perform in-depth troubleshooting to identify the cause of the issue. The process requires us to view your transactions and the item in question.

The safety of our customers’ accounts always comes first. For this reason, I recommend you get in touch with our QBO Care Team.

They can access your company in a secure space. Also, they have extra tools to help trace why the item shows an inventory asset value without any inventory.

Here’s how to contact them:

1. Tap the Help icon at the top and hit the Contact us button located at the bottom of the window.
2. Type the issue in the What can we help you with? section and press the Continue button.
3. Choose Chat for real-time assistance or Callback.

I’m adding a link to get you acclimated to the program’s features. It contains self-help articles that will guide you on how to perform any QuickBooks processes.

Please let me know if I can be of further assistance. I’m only a few clicks away for help. Enjoy the rest of the day.