Advertise here    

QuickBooks Forums      

Go Back   QuickBooks Forums > QuickBooks Software Support > QuickBooks Pro Forum

Thread Tools Rate Thread Display Modes
Old 01-23-2017, 07:01 PM
jwells2 jwells2 is offline
Registered User
Join Date: Dec 2008
Posts: 7

I've been reading up and checking all the possibilities for this but there is something seriously wrong with my inventory and I can't figure it out. Three things do not reconcile. When I open Item List my quantities are no where close to the Inventory Valuation and neither are close in value to the Inventory Asset account. Nothing was every posted directly to the Inventory Asset account. There are also no transactions in all of QB after today's date and I am using the correct dates. How can I straighten this out?
Reply With Quote
Old 01-24-2017, 06:06 AM
Rustler Rustler is offline
Registered User
Join Date: Feb 2008
Location: Texas - The Republic
Posts: 2,412
Qty never equals value, unless of course you buy one each for $1 each

Open a balance sheet, double click on inventory asset, set the date range to ALL using the date selector drop down arrow, click customize.
Lower right set the total by field to Item details, save and refresh the report

scroll down the report looking for a section (usually at the end) titled No Item - If that section is missing or empty, you are right inventory asset has not been used in a transaction, but if there are any entries at all - those are part of the problem and need to be examined to see what they are supposed to be doing, and correct the entry

Run that and let's check for sure

make sure your procedure for buying inventory is the same as this one

If not, read about this inventory bug and let me know if that applies to your accounting
Reply With Quote
Old 03-12-2017, 02:49 PM
Workin4ALivin Workin4ALivin is offline
Registered User
Join Date: Mar 2017
Posts: 1
I have 2 Inventory accounts, one is for skincare/makeup and the other is Salon Inventory of Hair products. Each has it's own credit card and checking account.

In going over my balance sheet I have noticed that one purchase of makeup products (entered as enter credit card charges to the Skincare/Makeup Credit card) divided the items between the two different asset accounts. I cannot figure out how or why this happened and how to rectify it.

any ideas?

Thank you in advance.

Reply With Quote
Old 03-13-2017, 06:25 AM
Rustler Rustler is offline
Registered User
Join Date: Feb 2008
Location: Texas - The Republic
Posts: 2,412
There is no reason to have two inventory accounts in QB, and what CC you use to pay for what is immaterial to how it posts in QB

QB does what you tell it to, when you made the purchase, assuming you are using inventory type items on the purchase, the purchase posts to the inventory item you select. So which account gets the added value is determined by the asset account listed on the inventory item screen. Check the items that you put on the item tab on the purchase.
Reply With Quote

Bookmark and Share
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is On

Forum Jump

All times are GMT -5. The time now is 01:04 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
All contents copyright (c) by AccountingUsers Inc.