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dracinelli
Level 1

Receipts for advanced inventory

I have advanced inventory setup for over a year.  I am now having an issue. My invoice from Company A is 40,000 worth of goods which I them receive, I go to my offset account and it shows 39,000.  I scroll through the items and instead just hitting the balance sheet it is offsetting the COGS account for not a $1000. but  24.00.  I just started doing this since switching to 2020 version. I make sure the item is properly built, delete the receipt re-enter and the same thing happens.

Please help explain why

1 Comment 1
JenoP
Moderator

Receipts for advanced inventory

A possible data issue might have caused the issue when receiving the item and running the report, dracinelli.

 

Let me share some steps and links that can resolve most common data issues when using QuickBooks Desktop.

 

First, make sure your software is on the latest maintenance release. Here's a guide for more details: Update QuickBooks Desktop to the latest release.

 

Second, proceed to using the Rebuild and Verify Utility tool. Here's how:

 

Run the Verify Utility

  1. Go to the File menu, scroll-down to Utilities, and then click Verify Data.
  2. Select OK when you see the message QuickBooks detected no problem with your data. You may continue using your company file.
  3. If Verify finds an issue with your data, you will be prompted to Rebuild Now or View Errors. Select Rebuild Now.

Run the Rebuild Utility

  1. Go to the File menu, scroll-down to Utilities, and then select Rebuild Data.
  2. Select OK if you receive a prompt to back up your company file. Note: Your computer may display the message QuickBooks is not responding. However, as long as you can see your mouse cursor move, Rebuild is still ongoing. Wait for it to complete.
  3. Select OK when you get the message Rebuild has completed and proceed with the next step.

Third, go back to the item receipt or to the report and check if the amount is already correct. I'd also recommend reaching out to our Technical Support Team just in case you're still getting the same amount. They'll double check your company file to determine what's causing the issue.

 

Here's how:

 

  1. Go the Help menu and select QuickBooks Desktop Help.
  2. Click Contact Us.
  3. Let them know that you need help with your item receipt or inventory reports.
  4. Click Continue, then select the available options that you can see there.

I'd also like to inform you in advanced that due to the ongoing pandemic, our phone and chat support channels are only open between 6:00 AM to 6:00 PM from Monday-Friday. They're also open from 6:00 AM to 3:00 PM on Saturday. Here's a quick guide for more details: Support hours and types.

 

Please don't hesitate to reach out to us again if you have other questions. 

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