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jasonlewis
March 2, 2024
Question

Inventory Valuation Detail Report

  • March 2, 2024
  • 3 replies
  • 0 views

Starting today, March 1, 2024, the beginning quantity on hand is not appearing on my Inventory Valuation Detail report.  Yet all debits and credits on the report are correct and my quantity on hand on the Inventory Summary Report are correct.  Knowing my running balance of inventory is crucial.

3 replies

A
Archie_B
March 2, 2024

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!

J
jasonlewisAuthor
March 2, 2024

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.

Rainflurry
Rainflurry
March 2, 2024

@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?     

J
jasonlewisAuthor
March 2, 2024

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.

Rainflurry
Rainflurry
March 2, 2024

@jasonlewis 

 

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

S
SergeyBazh
July 29, 2024

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.

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