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mdrose42
September 12, 2020
Question

PST affecting inventory value

  • September 12, 2020
  • 1 reply
  • 0 views

In Quickbooks Online, I purchased an inventory item that included GST/PST and later sold the item charging GST/PST.  Now in Inventory the item has a quantity of 0 but a value equal to the PST on the purchase price.

Looks like I should not have paid PST on the purchase but need to know how to get it out of inventory value.

 

1 reply

L
LauraAB
September 14, 2020

Hi there mdrose42,

 

I love that you're using QuickBooks Online's inventory option, available in Plus packages. It's a great, simplistic way to keep track of the items you have on hand to sell to your customers. I want to make sure you have the right direction for sorting out your situation with the inventory value, so I'll point you in the right direction.

 

In this situation, being able to see what you're seeing will help with identifying where different figures are coming from and how to balance things out using the program's features. For that reason, I recommend checking in with our tech support team to have a team member take a closer look at this with you. Support has the option to accept screenshots or even do a screen share session in some cases, which are useful tools when it comes to these scenarios.

 

There are a few ways to reach out, so choose whichever works best for you.

 

Schedule a Callback or Chat: click (?)Help in the upper right > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat. Support is available from Monday to Friday between 9 a.m. and 8 p.m. ET.

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We're here to help you get back on track!

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