Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
2
2000yearsago
May 5, 2020
Question

Asset Value Calculations incorrect

  • May 5, 2020
  • 1 reply
  • 11 views

Hello, 

In my inventory evaluation summary report, the calculations for inventory asset value is off by a few $.

760 units X  $37.38 = $28408.00

 

Can anyone explain why?

 

Thank you for your time.

1 reply

Rubielyn_J
Rubielyn_J
Level 8
May 5, 2020

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:

  1. Close all the windows in your QuickBooks.
  2. Go to the File menu, then choose Utilities.
  3. Select Verify Data.
  • If the result will be QuickBooks detected no problems with your data, no further action is needed.
  • When a specific error message pops up, you can search it ou QuickBooks Desktop support site for specific instructions.
  • When the result is Your data has lost integrity, follow the steps below to rebuild the data to correct the problem.
  1. Go to the File menu.
  2. Select Utilities, then choose Rebuild Data.
  • If it detects additional damage, locate the error within the qbwin.log and look for a resolution at the QuickBooks Desktop Support site.
  • If the error can't be found, try to restore a recent backup copy. Make sure not to overwrite your existing company file. 

 

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.

2
2000yearsagoAuthor
May 6, 2020

Thanks for the reply.

Tired the steps above and it said "QuickBooks detected no problems with your data"

 

The math is still wrong.

2
2000yearsagoAuthor
May 6, 2020

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! 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Accept as solution"


Hey, 

So is there any valid Solution to the problem I'm having? 

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.
Terms & ConditionsAccessibility statement