Let's go through the steps on how you can run an inventory valuation report categorized by preferred vendors.
I'll show you how:
Go to the Reports menu.
Select Inventory Valuation Detail.
Click the Customize Report button.
Under the Display tab, change the Sort by drop-down menu to Pref Vendor.
Additional details on the process of customizing reports in QuickBooks Desktop is in this article: Customize reports in QuickBooks Desktop. It has several links for related articles on this process, along with the general steps you can take to customize reports.
Don't hesitate to post a comment if you have other concerns. I'll take care of them as soon as I can.
Unfortunately this did not work. No matter what I choose in the Sort By dropdown it still subtotals the inventory by Item Name instead of Vendor. Changing the Sort By will only sort the list under each item, it will not subtotal the entire report by vendor.
I appreciate the steps you've tried, mark_g. I've got a workaround to achieve your goals today.
The Inventory Valuation report is the only report that will provide you the average cost of an item while this can be grouped by Item. You'll want to export this and fix the groupings through Excel. You can add the Pref Vendor and Item as a column on the report.
To add Pref Vendor and Item as a column:
In the Inventory Valuation Detail page, select Customize Report.
Select the Display tab.
Under the Columns field, search Pref Vendor and Item.
Click on OK.
Once done, you can export it to Exceland fix the groupings from there to get the information you need.
Of course I know you can use Excel to accomplish this. You can use Excel to do practically anything, but I was looking for something built into Quickbooks. This is an incredibly common report, so I was certain it was available in QB without exporting the data to Excel or using QBAR. I was hoping that I was somehow overlooking the report, but now I realize it is not available as an option in Quickbooks. Strange how Version 20 of a product still lacks such basic reporting functionality.