Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowwhen i checked the "Cost of Sales" in trail balance sheet. i found the amount (I assume it is cost of items) is far more than the sales of that invoice. i don't know why does it act like that?
does anyone can help?
regards,
Bob
I can help you review the price you entered in your items, googlebobby.
The Sales price/rate on the items information is the amount you sell to your customers. The item's cost on the other hand is the amount when you purchased it from a vendor.
To verify these details, you can follow these steps:
QuickBooks doesn't retroact. Thus, changes will only take effect in future transactions. If you want to update existing ones, you can open them individually and toggle the item again.
I'd still suggest reaching out to an accountant that will help you manage your inventory setup. Updating your items can affect your books and a bit of advice from them is also a great help.
I'll be attaching articles for future reference:
Keep me posted if there's anything else that you need help with. Take care and have a great day!
hello Catherine,
thanks for the reply and much appreciated.
there are an item cost and sales price for these items (local currency), however, that invoice is for exporting and the sales price is in USD. but I don't think the currency is the factor that causes the issue.
also, there is something I can't understand, the purchase of one of the items 8810 doesn't show in the inventory, that is why there is a minus in the inventory when we issue the invoice to the clients.
do you have any idea how could it act like that?
thanks
Bob
Thanks for getting back to us and providing screenshot, Bob. I can help share some information why you got a negative inventory in QuickBooks Online.
When you sell out a product, the quantity on hand is zero. If the QOH is less than zero, then you'll have a negative inventory. I've listed down below the causes of a negative inventory in QBO:
You can learn more details on how to fix the negative inventory in this article.
Should you have any additional questions regarding inventory, do let me know. I'm here to help.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here