@Shannon in Colorado
Are there actual inventory products in QBO that need to be removed or is that $7M balance just recorded as inventory on the balance sheet with no products in QBO? If there are no products, this can be easily handled with a journal entry. The bigger question is: has this business been recording purchases as inventory when they should have been recording them as expenses? I can't imagine they under-reported their expenses by $7M over the past 10 years but, if that's the case, you need a CPA/tax accountant to help reconcile this.
