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Procedure for troubleshooting Negative Inventory Issues in QuickBooks Desktop
Blog Information
- Posted By : James Ryter
- Posted On : May 03, 2023
- Views : 88
- Category : Technology
- Description : Do you need to address the problem related to negative inventory in your QuickBooks Desktop?
Overview
Do you need to address the problem related to negative inventory in your QuickBooks Desktop? The term "negative inventory" indicates that the inventory count shows that there are less than zero items in stock. The meticulous tracking of inventory using various accounting approaches, computer systems, etc. leads to the temporary inventory state. The current blog shall visit the various fixes for negative inventory issues in QuickBooks desktop.
Follow the points to fix negative inventory issues in QuickBooks
- Click on the "Reports" option in the menu.
- Then, from the list of options, choose "Inventory Valuation Detail.
- Mark "All" in the "Dates" Scroll down the report until you find each item with a negative amount in the "On hand" column. Change the date on the bills.
- Repeat the steps again, but this time, add the negative amount.
Points to Note
- Back up company files without tampering with the backup files already created.
- Save the backup in a convenient location.
- A new data file should be created to initiate with a negative inventory.
- You can inspect proper numbers if there is a mismatch in the inventory reports. As a precedent, if the average cost is missing, set latest transactions like credit card on hand Qty/value, check, bill, etc.
- The procedure for the same is:
- Click on the ''reports''
- Now, go to ''inventory.''
- Head to "inventory Valuation Summary."
- Click on QuickZoom and opt for the double item showing incorrect numbers. The information related to the purchase of the item will appear.
- Inspect the first bill upon going to "run the bills".
- Make necessary alterations to the bill date. It should be changed such that it shows up even before the first payment.
- Hit on "Save and close" for saving the bill with a latest date.
- Examine the incorrect item and modify it.