Thank you for coming back to the QuickBooks Community, robbin-taylor. I'll share details on how items work in QuickBooks. Then, ensure you'll be able to change the asset value to $0.00.
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. With this, I suggest going to the Products and Services page and reviewing the item’s setup. Then, update the details to fix the issue.
Here's how:
- Tap the Sales menu on the left panel to choose Products and Services.
- From the list, select the item you’re working on and hit the Edit button under the Action column.
- Go to the Quantity on hand section and hit the Starting value link to see more information about the product.
- Choose Got it to confirm the action.
- On the Inventory Starting Value # Start page, check the item details and make sure the data entered is correct.
- If it’s incorrect, update the information.
- 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.
Lastly, you may refer to this article to view details on how to check your inventory so always have an accurate count: Fix negative inventory issues in QuickBooks Online.
If you have any further questions or concerns, please don't hesitate and reach back out to me. I'm always here to help you. Stay safe!
