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Sometimes, you find inconsistency in the Inventory Asset account in your QuickBooks. The figure recorded in the Balance Sheet doesn’t meet the product items recorded in the QuickBooks inventory valuation summary report. It can be a frustrating moment for the responsible professionals, but fixing the differences is no longer a challenging job. There are some technical procedures that you can implement to get rid of it immediately.

Above all, most of the businesses prefer dialing Intuit QuickBooks support phone number to get an instant and productive QuickBooks customer service to fix the mismatches or inconsistency in the balance sheet and inventory reports.

There are basically two types of error that may result in mismatching the figures in your balance sheet and inventory report. The first type of mistake comprises of the entries that the professionals enter in the inventory account using either expense tab or the “Adjustment Account” dropdown list. Some of the wrong entries may cause inconsistency in the figures recorded in the balance sheet and inventory report.

On the other hand, the second type of error takes place when you create an inventory item with inactive values. In such cases, you may find a huge inconsistency in the overall figure.

How to get rid of the inconsistent data:

When it comes to fixing the issue in QuickBooks, you need to be careful regarding the possible issue with your QuickBooks company data files. You would better reach out to the QuickBooks customer support by dialing a toll-free QuickBooks help desk phone number. You may get some technical tips on how to add lot numbers in QuickBooks inventory account.

You may fix the issue by using the following steps:

  • You may fix the issue by using balance sheet and inventory valuation report to identify those transactions that are causing inconsistency.
  • You may also get rid of it by filtering those bills and checks that are causing issue with the inventory stock report.
  • The inventory adjustments can also be resolved by finding out all the future adjustments. Tracking lot numbers in QuickBooks can also help you understand the real reason.
  • You must be aware of the inventory items that have an inactive value. The balance sheet report shows all the active and inactive entries, but on the other hand, inventory report displays only active items.

So, these are some important things that you must consider before you start troubleshooting the inconsistency between the balance sheet and inventory stock report.

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