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Lee-A
March 25, 2025
Question

Balance sheet & Inventory valuation discrepancies - No item reconciliation

  • March 25, 2025
  • 1 reply
  • 0 views

We currently have a large discrepancy between our balance sheet and inventory valuation. I used solution 1 from the below QB resource to try and resolve the issue but I am finding some strange transactions in the "No item" section of the transaction by account report. The most common transactions I am seeing are inventory adjustments. The issue here is that not only do they seem to be entered correctly, but they are also showing in the itemized section above the "No item" section and both of which are affecting the balance sheet. Is there a particular reason why they would be found in both sections? Any insight on this issue or the no item section in general would be greatly appreciated. 

Balance Sheet and Inventory/Stock Valuation reports show different amounts for Inventory Asset account

1 reply

R
rvrfrf
March 25, 2025

Thanks for getting in touch with the Community, Lee-A.

 

Since you're seeing an itemized area above your No item section on the transaction detailed report, I'd recommend getting in touch with our Customer Care team. They'll be able to pull up your account in a secure environment, do a screen-share with you to see what you're seeing, and create an investigation ticket if necessary.

 

They can be reached while you're using QuickBooks.

 

Here's how:
 

  1. Open QuickBooks.
  2. In the top menu bar, go to Help, then QuickBooks Desktop Help/Contact Us.
  3. Enter a question, keyword, or topic you need help with.
  4. Select Contact Us.

 

Be sure to review their support hours so you'll know when agents are available.

 

I'll be here to help if there's any additional questions. Have a wonderful Tuesday!

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