(Note: The above example provides such a depiction without other optional criteria being displayed.) This provides you with the ability to follow-up on an item and then use item history to find exactly when an item ‘went negative’ in order to make adjustments. You can see if items have negative values as of a specific date (the end of the evaluation period), or you can option to see if items had negative values at any time during the evaluation period). The Troubleshoot Inventory tool gives you both of these capabilities. Because improper set-up of items is a frequent cause of discrepancies in these reports, such set-up irregularities may impact the displayed totals in the tool. If you have chosen to establish more than one Inventory Asset account, the value shown as the Inventory Asset Account value in the tool window will be the total of all accounts which are tied to actual inventory items (or inventory assembly items). This is especially true for Balance Sheet computations. I have noticed that amounts displayed in the tool may sometimes differ from those appearing on the corresponding reports. You can change the date, refresh, and click the links to see the Balance Sheet and Inventory Valuation Summary as of the new date. There are links to the Balance Sheet report and Inventory Valuation Summary as of the selected date. When the tool shows a discrepancy, there are some helpful links available to assist you in troubleshooting the problems. While a green circle indicates that the inventory account on the Balance Sheet and the Inventory Valuation Summary match, a yellow warning triangle (like the one shown in the example above) indicates that there is a discrepancy between the inventory account on the Balance Sheet and the Inventory Valuation Summary. We will look at this topic in a little greater detail when we discuss the Troubleshoot Inventory tool. One common cause is inventory items with Quantity On Hand that have been made inactive will also cause a discrepancy between the inventory valuation summary report and the totals for the inventory asset account on the Balance Sheet. So let's look at how these tools work together to give you improved inventory troubleshooting capabilities.Ĭlient Data Review (CDR) provides several tools to troubleshoot Inventory within the Troubleshoot Inventory window including the Compare Balance Sheet and Inventory Valuation.Ī variety of transactions posted directly to the Inventory account will result in a situation in which the Inventory Valuation Summary will not agree to the Inventory Asset balance on your Balance Sheet. Two of the major tools to help you our are the Inventory Troubleshooting section of the CDR (Client Data Review) tool, and the Add/Edit Multiple Item List feature. There are a variety of tools that will assist you in identification, troubleshooting and repair of these kinds of problems within the Accountant's Version of QuickBooks and QuickBooks Enterprise Accountant. Instances of where the general ledger inventory account(s) and the inventory valuation do not match are not uncommon, and people are always asking why. Well one of the things that commonly occurs at 'this end-time of the year' when QuickBooks clean-ups are going on is the troubleshooting of inventory. Recently I was at a meeting where the question was asked of a group of ProAdvisors, "how many of you use the CDR tools in Accountant Edition?" I was amazed to see the small percentage of hands raised, I then interrupted the meeting to ask, "how many of you who have used CDR ever use the various Troubleshoot Inventory tools?" I was even further shocked by the yet smaller number of users.
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