Inventory asset

I can tell you more about running a Balance Sheet report in QuickBooks Online (QBO), @larrysrsp.

When you run your Balance Sheet report, only the Inventory Asset accounts that are associated with your inventory-enabled Product/Service items will show on your report. You'll find these grouped under Other Current Assets. Then, the asset balances show the cost of your current inventory.

For more information about the Balance Sheet report, check out this article: Run a Balance Sheet report in QuickBooks Online. It'll tell you more about why it doesn't match your other reports even after making sure that all the filters are the same.

I suggest running your report on an accrual basis so that Quantity on Hand (QOH), Cost of Goods Sold (COGS), and Inventory Asset Account values will reflect the correct amounts. You'll just have to click the Accounting method in the report to select either Cash or Accrual. For detailed guidance with changing the accounting method for your company and on the report, check out this article: Choose between cash and accrual accounting methods in QuickBooks Online. 

Here's more information on how you can customize your report to get the information that you need: Customize reports in QuickBooks Online. 

Let me know if you need further help with running your Balance Sheet report in QBO. I'm always here to help. Have a great rest of the day!

@larrysrsp 

If you have excess inventory, you most likely also have understated expenses/COGS depending on how you entered the bills for those items.  Ultimately, you will need to make adjustments to each item which will reduce your inventory and increase your expense.  

On my transaction report for Inventory Asset my transaction type is "Inventory Starting Value" and START. I dont think this is what was suppose to occur.