QuickBooks Q&A
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The inventory Amount on the Balance Sheet is way off than the actual. Previously, the Bills from the supplier were entered on the category details as "Inventory" instead on the Item details, so there were balance in the Inventory account but no Inventory count. After a few months, An inventory management was used and started to record inventories manually in QBO that resulted to Inventory Starting Value and Inventory Qty Adjust transactions added into the Inventory Account. Basically, it doubled up the amount in the Inventory Account. Should I just delete the Inventory Starting Value to correct it? My concern is, if I do that the Inventory count will also change and if I correct that by adjusting the quantity, Inventory Shrinkage would be my next problem. Any advise and suggestion is highly appreciated. Thank you.
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Invertory shrinkage
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