Inventory Valuation Detail Report

Hi there, jason.

I understand the importance of having an accurate and complete Inventory Valuation Detail report. I can share some details 

There are a few possible reasons for this discrepancy if the beginning quantity on hand does not appear on your Inventory Valuation Detail report. The first thing to do is double-check that the report's filters are correct. Ensure that the date range begins on March 1, 2024, or the desired start date. 

Also, one of the possible reasons is an inventory adjustment. These adjustments can be made for various reasons, such as damaged or lost items, changes in pricing, or updates to inventory counts. That said, to ensure the accuracy of your reports, you can review some of the changes that have been made. Since it is important to accurately record inventory adjustments with the proper dates and details.

I've added this article as an additional resource in resolving inventory issues: Fix negative inventory issues in QuickBooks Online.

If you have any further questions or need additional assistance, please don't hesitate to let me know. I'd be glad to help. Have a great day!

@jasonlewis 

The beginning balance should be there when you run the report with a date range.  There is no beginning balance if the report is just for the current day.  If you're running the report for a date range and not seeing a beginning balance, can you post a screenshot of the report?     

I am always running the prior month's inventory valuation detail and the report worked for January 2024, but now does not work even when I go back to prior months.  And when I entered my year end inventory adjustments, I followed the "Adjust Inventory Quantity" instructions. The weird thing is that when I run a Inventory Valuation Summary and then click down on a specific SKU, the Beginning Qty on Hand appears.

For my year end inventory adjustments, I followed the inventory adjustment instructions and not sure why that would cause the beginning quantity on hand to disappear.  The report worked for January 2024, but not now.  And I ran the January report after entering inventory adjustments.  The bizarre thing I am seeing is that if I run an Inventory Valuation Summary and then click on a SKU and then re-run that SKU detail, the beginning quantity on hand appears (see attached).  That makes no logical sense to me.

@jasonlewis 

The screenshot attached shows the beginning quantity on hand of 17,224 with a cost of $163,455.76.  Am I missing something?  

Wrong screen attached, I guess.  Here is what I see when I run an Inventory Valuation Detail report.  When I run an Inventory Valuation Summary report and then click on a SKU, I do see the starting quantity on hand...but that goes away if I add SKUs via the customization button.  

Assuming I made a mistake when entering the Inventory Adjustment dated 12/31/23, what is the fix to see the quantity on hand again?  Here is a screen shot of my entry and it does show on the Dec 23 inventory detail report with an ending quantity, so not sure why the Jan 24 report is not picking up that quantity.

Allow me to jump in into this thread, Jason.

To see the quantity on hand beginning balance, you'll need to run two kinds of reports.  

Here's how:
 

1. Go to Reports.
2. Search for and open an Inventory Valuation Detail/ Inventory Valuation Summary report.
3. From the Report period dropdown, select All Dates.
4. Select Run report.
    

Moreover, you can check out this article for more details to have an accurate count of your inventory: Fix negative inventory issues in QuickBooks Online.

If you need further assistance, feel free to comment down below and I'll be here to assist.

@jasonlewis 

"Here is what I see when I run an Inventory Valuation Detail report. When I run an Inventory Valuation Summary report and then click on a SKU, I do see the starting quantity on hand...but that goes away if I add SKUs via the customization button."

I'm still not sure what you think is not working properly.  The Inventory Valuation Summary report is a snapshot of your inventory value by item/SKU at one point in time, just like a balance sheet, so there's no starting or ending balance - just a balance as of the specified date.  The Inventory Valuation Detail gives you the starting and ending balances over the specified date range and all of the transactions that got you from the beginning to ending balances.  Your screenshots look as they should IMO. 

@jasonlewis 

"Here is a screen shot of my entry and it does show on the Dec 23 inventory detail report with an ending quantity, so not sure why the Jan 24 report is not picking up that quantity."

The screenshot attached is not a an 'ending quantity' as you mentioned, it is a change in quantity as of the date entered (there's no date visible on the screenshot).  If the adjustment is dated 12-31-23, it ill show on the Inventory Valuation Detail report as long as the date range starts prior to 12-31-23 and ends after that.  Those quantities will not show on an Inventory Valuation Summary report because that report only shows the on-hand quantity, not the change in quantity. 

On a related note, one of the screenshots you attached is your Inventory Valuation Detail report for Feb. (beginning Feb. 1, ending Feb. 29).  That screenshot indicates you are overselling (allowing on-hand inventory to go negative) a lot of your products.  Forgive me if you know this but you never want to let your on-hand inventory go negative if at all possible. That screenshot alone shows more than $35K in oversold inventory.  The issue is that QB is just using an estimated cost and not basing on your actual FIFO inventory costing.    

It sounds like the beginning quantity on hand not appearing in your Inventory Valuation Detail report could be due to how QuickBooks Online (QBO) handles inventory reporting. QBO focuses more on financial transactions rather than detailed inventory quantities, and sometimes this means that certain details might not show up as expected in specific reports.

One possible reason is that QBO's inventory reports might not always reflect the beginning quantity correctly if there are discrepancies or if the inventory records are not fully updated. Ensure that all transactions are recorded correctly and that your inventory data is up-to-date.

For more comprehensive inventory management, including tracking quantities and detailed reports, you might want to consider a third-party solution like Warehouse 15. Warehouse 15 integrates with QuickBooks to provide a more detailed view of inventory, including real-time updates and accurate reporting of quantities on hand.

You can explore Warehouse 15 here: Cleverence Warehouse 15.