I am using QB Premier 2006 5 user. On a monthly basis I use Adjust Quantity/Value On Hand. I have been trying to figure out why the Inventory Valuation Summary Value doesn't match the Inventory Asset Value on the Balance Sheet. The Balance Sheet Value is greater. I thought it might be something I set up incorrectly but I just made the entry in the sample wholesale file and got the same results. Here is what happens. Make note of the value of the inventory in the balance sheet and the inventory valuation summary, it is the same. Go into Adjust Quantities.... select Inventory Asset account and reduce the qty of a product, it shows a negative amount such as -1,000 Save and close. Run a Inventory Valuation Summary and it will have a decrease of 1,000 Go to reports and run a Standard Balance Sheet and it does not show the decrease in value.
I manufacture product and over the last few years from making this adjustment this number has grown out of balance considerably. I use wasp bar code for labels and it does not recognize inventory assembly so I don't use that function. Regardless, shouldn't this value stay in balance?
I would appreciate any help with this matter,
Tim