Welcome to the Community, @2000yearsago.
Let me sort things out for you. Your asset value will depend on the transactions entered in your QuickBooks. Possible reason that the calculation is incorrect is because of some data damage. To fix this you can Verify and Rebuild Data in QuickBooks Desktop.
I'll show you how:
If you're still having the same result after performing all the troubleshooting, you can contact our support team. They have the necessary tools to further investigate and fix your concern.
Please let me know if you need further assistance. I'd be glad to help you. Keep safe.
I know how important to account for every number accurately, @2000yearsago.
This discrepancy usually happens because the program is rounding the decimal points. You may try checking the original price of your Item List from the Lists menu. This way, you'll be able to verify if you got the same price/cost shown in your report.
While the report shows the rounded number, the total amount always bases on the original price/cost of the item.
Let me also add an article about setting up multiple locations for tracking inventory: Multiple Inventory Sites.
Please let me know if you have other concerns. Have a great day.
Hey there, @2000yearsago.
Thanks for following up with us.
At this time, you can't round to the nearest 100th. The average cost is based on the math for the qty and the asset value for the item. I can see how this would be beneficial for you and your business. If you'd like, I can submit product feedback to our developer team so this could be considered in a future update.
Please let me know if you have further questions or concerns. You can always reach out to us here in the Community anytime you need a helping hand. Take care!
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You can manually adjust the cost of an item through these steps:
Here's an article that might be a help as well: Adjust your inventory quantity or value in QuickBooks Desktop.
I'd also suggest reaching out an accounting professional when managing your inventory items. They can give you options that will suit your business setup.
If you encounter the same issue with the amounts, you can contact our Technical Support Team. They can review your company file and provide additional troubleshooting steps.
We'll be right here if have additional concerns.