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Yash307
June 9, 2022
Solved

Wrong data coming in report

  • June 9, 2022
  • 1 reply
  • 0 views

Hi,
i added one product with cost 300 initially then made one invoice with this item
and then in the report there was cost coming as 300 which was correct
but then i removed that cost from product and set it to 0, but now it doesnt reflect when i create the report again and still shows 300 there as cost
how do i achieve this/ how can i set the cost to 0 so that i get it in the report

Best answer by Rea_M

Hi,

I'm having  problem in  opening the pop-up where i can adjust the initial cost in the report, I'm not able to find where should i click to open it,

Because when i click anywhere it opens the  invoice.

Also thanks for quick replies and help :)


Hello there, @Yash307. Let's pull up another report where you can open the pop-up to adjust the initial cost of your inventories in QuickBooks Online (QBO), and I'm here to show you how.

 

The Inventory Valuation Detail report will display the list of your inventory items and transaction you've made related to them. However, you're unable to open the pop-up where you can adjust the initial cost of the item through it. With that, I'd recommend pulling up the Product/Service List report instead. To do this, here's how:

 

  1. Go to the Reports menu.
  2. Search for the Product/Service List report and select it to open.
  3. Find and double-click the inventory item you want to update.
  4. Once the Product/Service information window opens, click the Starting value option.
  5. Click Continue. 
  6. On the Inventory Starting Value page, go to the Initial cost field and make the necessary changes to the item.
  7. When you're done, click Save and close. 

 

Also, you may want to check out this article as your reference if you need a guide in familiarizing the Reports feature in QBO: Run reports in QuickBooks Online. It includes links on how you can customize, memorize, and run financial reports, to name a few.

 

Please keep me posted in the comments on how it goes. If there's anything else you need or reporting concerns and questions about managing inventory items in QBO, I'll gladly help. Take care, and have a great day, @Yash307.

1 reply

Adrian_A
Adrian_A
June 9, 2022

Hi Yash307,

 

I want to ensure that we're on the same page so I can provide the correct solution.

 

Can you tell me the name of the report you run? I would also appreciate it if you can share a screenshot.

 

I'll be keeping an eye on your response. 

    Y
    Yash307Author
    June 10, 2022

    Its the problem with all the reports that have the "cost"  part in it under cost of goods sold. Attaching screenshot of one of the reports which is "transaction report by account" . In which you can see the cost showing as 300,400 for two invoices, but there is no entry of this cost anywhere, not in product nor in invoices

    S
    ShiellaGraceA
    June 10, 2022

    Thanks for getting back to us, @Yash307.

     

    I'll share some insights about the COGS transactions that are showing up on your reports. You'll want to open the invoice to see the item or account associated to the COGS account. If that item or transaction shouldn't be recorded, you may want to delete the invoice.

     

    Here's how to delete:

     

    1. Double-click the invoice in the report.
    2. Scroll down and tap More.
    3. Click either Delete or Void.
    4. Select Yes to con firm.

     

    See this guide for more information: Void or delete transactions in QuickBooks Online.

     

    After deleting the invoice, pull up the report again and check if you still have the amounts posted under COGS.

     

    In case you need help with other customer-related tasks, go to this link. It has our general customer topics with articles: Topics about your company's income and customers.

     

    Please let me know how it goes after trying the above steps as I wanted to ensure this is resolved for you. Take care and have a great day ahead.

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