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Thank you for your prompt response, Max. I will explain how Asset Value works in QuickBooks.

QuickBooks calculates the Asset Value of an item based on its Inventory Cost and the Quantity on Hand. If you set the Quantity on Hand to zero, both the Inventory Starting Value and the Asset Value will also show as zero. However, the Asset Value is updated each time you record a transaction.

If you haven't made any transactions, you can click on the Asset Value amount in the Inventory Starting Value to adjust the transactions, just like my colleague mentioned above.

However, if you have already recorded transactions, that could explain the difference in the Asset Value. You can view the Inventory Valuation Detail report to see more information. If you need to make adjustments, you can do so by clicking on the amount listed under the Asset Value.

Additionally, please refer to this article for comprehensive guidance if you want to edit or create management reports in QuickBooks: View and edit management reports in QuickBooks Online.

You are welcome to reach out if you have inquiries or questions about how Asset Values are calculated in QuickBooks. Simply click the Reply button below, and I will assist you promptly. you for your prompt response, Max. I will explain how Asset Value works in QuickBooks.