Other questions

Allow me to clarify how the instructions provided by my colleague above can help you correct the value of your items accordingly, Max.

With the inventory adjustment function, you can handle discrepancies in your items/services quantity on hand (QOH). Before initiating this action, it's recommended that you work with an accounting professional, as this procedure is complex and can impact your books.

To proceed with updating your QOH, refer to these steps:

1. Go to the + New icon and select Inventory qty adjustment.
2. Enter the appropriate Adjustment date, Adjustment reason, and Inventory adjustment account.
3. You can also input a unique Reference number if needed.
4. Choose the Product/Variant in question and enter its New QTY.
5. Double-check everything, and once done, hit Save and close.

For more information about the process, kindly access this link: Adjust inventory quantity on hand in QuickBooks Online.

On the other hand, the advice shared by my colleague to fix the item's value on the Inventory Valuation Detail report can help you if you've already recorded a transaction that's causing a discrepancy. In doing so, you can adjust the items involved in the transaction and their amounts. With this, it's also best to seek assistance from an accounting professional.

Additionally, if you need to edit an item's designated account or classification, you can utilize these articles as your guidance:

• Change the account for a product or service item in QuickBooks Online
• Change product and service item types in QuickBooks Online

If you have more questions about managing your inventory value and QOH, click the Reply button. We're always available to assist.